I’m working on some more charts and data to put the recent CAAR Market Report into the appropriate context. Writing a story/analysis that will speak to the broadest section of the Charlottesville real estate market is a nearly-impossible task as every buyer and seller has different situations, goals and life circumstances. When I consult with clients and potential clients, I provide more than financial and real estate guidance, but I try to offer life guidance as well, laying out different scenarios that they may not have considered. … Date range: Comparing 1 March 2010 – 11 April 2010 and 1 March 2011 – 11 April 2011 Single family homes: – far fewer homes have come on the market (163) – 11 fewer homes have gone under contract – 9 fewer have sold 
Attached homes: – 9 fewer have come on the market – 24 fewer have gone under contract – 6 more have sold in this timeframe 
Condos : – 1/3 fewer have come on the market – 8 fewer have gone under contract – 8 fewer have sold 
Browsing Category Market statistics
Do Real Estate Assessments Matter?
The answer to virtually everything in my world: it depends. Chiara Canzi at C-Ville wrote an informative article last week in which yours truly was quoted ; it is worth a read if you’re curious about real estate assessments’ impacts on market value.
Charlottesville Area Association of Realtors’ 1st Quarter Real Estate Market Report
Like the new format? 
Download the PDF: Charlottesville Area Association of Realtors’ 1st Quarter Real Estate Market Report – 2011 Note that this report is for the entire Charlottesville area MSA – inclusive of Charlottesville, Albemarle, Fluvanna, Greene, Nelson and Louisa. Detailed, localized analysis is crucial when evaluating residential property in Charlottesville (or any area). * I collaborated on a CAAR group that has made some interesting changes to the format; next quarter’s report is going to be even better.
Monday Links – 21 March 2011 – Short sales, good news, real estate radio & inconsistencies
– Good News for the Charlottesville/Albemarle economy – Two Vacant Manufacturing Plants get Tenants : CustomInk and Indoor Biotechnologies . – Podcast of last week’s radio show on Coy Barefoot’s Charlottesville – Right Now! … If you have 15 minutes, please give it a listen; I’m curious to know your thoughts. (especially about my explanation as to why the Days on Market numbers in the MLS are crap). – If you’re working with an out-of-area agent, you’re doing yourself a disservice (and the agent is opening him/herself up to liability) – If you’re thinking about buying a short sale (with Bank of America), watch this video . … What will the impact be of the Matterhorn SeaStar? – Some really quick, brief perspective on the Charlottesville MSA real estate market, in my attempt to ascertain (and educate about) where we are right now in the Charlottesville real estate market: Listed between January 1 and March 20, 2011: – 1194 in 2011 (down 11%) – 1335 in 2010 – 1437 in 2009 Put under contract between January 1 and March 20, 2011: – 499 in 2011 (down 5%) – 528 in 2010. – 405 in 2009. Closed between January 1 and March 20, 2011 : – 306 in 2011 (down 17%) – 369 in 2010 – 237 in 2009 – I heard from another Charlottesville Realtor yesterday who had met an active buyer that the reason they didn’t buy last year is because they read this blog.
Question Everything – Especially Real Estate Reporting (Friday Chart)
All of the MLS (about 30+ counties)? – In Charlottesville/Albemarle in February 2011, 66 homes sold. – In Charlottesville, Albemarle, Fluvanna, Greene, Nelson, 106 homes sold. – In Charlottesville, Albemarle, Fluvanna, Greene, Nelson, Louisa, 133 homes sold and 172 went under contract. – In the entire MLS , (which is mostly irrelevant to my readers) 455 homes sold. For a better representation of real estate data that is relevant to real estate buyers, sellers, voyeurs, consumers in the Charlottesville MSA: 
Same information, different display: 
(I like this one as it gives a good understanding of the total volume we’re dealing with) As always, raw data is at the bottom of this post. … For the sake of accuracy, I typically discount/ignore aggregate days on market; they are so easily manipulated (such as by those entering new construction with 0 days on market to make their numbers look better, realtors gaming the mls , etc) – Even More about Days on Market – Days on Market Matter in Charlottesville – For consistency, I am excluding Louisa County. … Looking at this broad of a dataset is not useful when considering what your home may be worth. 
Raw data, inclusive of inadequate short sales and foreclosures: .
Real Estate Data and Analysis is Local. And always will be
If you haven’t been paying attention to the national real estate data world for the past week, you might have missed the National Association of Realtors responding to claims that it has been inflating housing sales .
…While some I have spoken with today call the claim by CoreLogic (a housing data provider) that the Realtors overestimated home sales in 2010 by almost 1.5 million, “overblown,” the Realtors themselves admit there is a problem.
… This is a big and important conversation because the NAR’s data, along with Case Schiller, are important, widely read, and depended on by many to ascertain the psychology of buyers, sellers – real estate consumers.
…I’ve said it before, when you’re evaluating the Charlottesville real estate market, ignore the national data ; it will only cloud your opinion .
Friday Chart – Charlottesville MSA Real Estate Update – First 47 Days
I'm always trying to get a handle on what's happening in the Charlottesville real estate market**, and while anecdotal evidence is useful, data is mighty helpful as well.
… Today we're looking for trends; as I've said for years, looking at data from any level other than this house (whatever that house is) can be misleading.
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… Every time I see just how dead 2009 was, I'm a little surprised, and thankful to have made it through that time period.