Browsing Category Market statistics

(nearly) Third Quarter Market Report for Charlottesville Region

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There are currently 381 homes under contract in Central Virginia: 41 have been on the market for at least 365 days, 102 have been on the market for at least 180 days and 163 have been on the market for at least 90 days but – 175 have days on market of at least 60 days 129 have days on market of under 30 days About 46% of homes currently under contract have days on market of under 60 days.

… Breakdown by locality – Days on market are up, year over year, average sales prices are up and median prices are about the same as 2007. 2008 Median-Prices-for-Charlottesville-Virginia-Region-2008 2007 Median-Prices-for-Charlottesville-Virginia-Region-2007 2006 Median-Prices-for-Charlottesville-Virginia-Region-2006 2005 Median-Prices-for-Charlottesville-Virginia-Region-2005 2004 Median-Prices-for-Charlottesville-Virginia-Region-200 Agent Update: Through 3rd Quarter 2008 : 80 had more than ten sides, 223 had more than five sides, 654 had at least one, leaving about 450 with zero transactions Through 3rd Quarter 2007 : 121 had more than ten sides, 297 had more than five sides, 740 had at least one, leaving several hundred (which is historically normal) with zero transactions Through 3rd Quarter 2006 : 166 had more than ten sides, 338 had more than five sides, 792 had at least one, leaving several hundred (which is historically normal) with zero transactions Through 3rd Quarter 2005 : 182 had more than ten sides, 368 had more than five sides, 723 had at least one, leaving several hundred Realtors (which is historically normal) with zero transactions Through 3rd Quarter 2004 : 180 had more than ten sides, 334 had more than five sides, 654 had at least one, leaving several hundred (again, which is historically normal) with zero transactions For context, see the Second Quarter 2008 market report and all market statistics posts here.

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New Construction, Median Sales Prices and Sales Volume for Central Virginia

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Albemarle County realeased ( sic ) numbers for the first part of 2008. 266 building permits for new residential housing units were issued in the first six months of 2008. … One of my goals for next month’s third quarter market report is to pull condos out of the equation so that we can better compare apples to apples. 2008 Sold Data for Albemarle, Charlottesville, Fluvanna, Greene and Nelson for 2008 2007 Sold Data for Albemarle, Charlottesville, Fluvanna, Greene and Nelson for 2007 2006 Sold Data for Albemarle, Charlottesville, Fluvanna, Greene and Nelson for 2006 2005 Sold Data for Albemarle, Charlottesville, Fluvanna, Greene and Nelson for 2005 2004 Sold Data for Albemarle, Charlottesville, Fluvanna, Greene and Nelson for 2004 For an example of the condo component of the market (again, more detailed analysis coming in early September): Condo volume in 2008 in Albemarle County is down nearly 40% and condo volume is down in the City of Charlottesville is down about 35%. 2006: Sold Condos in 2006 2007: Sold Condos 2007 2008: Sold condos 2008 * this post is a good segue way into my post recapping my week so far in Austin, Texas .

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Third Quarter Market Report Coming Soon

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I intended to post an update in August, ( even with the thought that we’re tracking the market too closely ) but saw that too many properties were being slowly closed out in the MLS, and that the data wouldn’t be as up to date as I wanted. … As I said yesterday in an email and on Twitter – Every day I see contrasting nuggets of information that serve only to confuse me about the Charlottesville real estate market.

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A Market “Retort”

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A clarification on their stats: There are 2595 properties on the market in the Charlottesville area, and 239 sold in July 2008, when defined as Albemarle, Charlottesville, Fluvanna, Greene, Louisa and Nelson. … I’ll be posting my own updated analysis in the next few days … it typically takes several days for all the data to be updated in the MLS.

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2nd Quarter Market Update for Charlottesville Region

in Charlottesville Greene Market statistics on

I’m not saying that we haven’t hit the bottom, but that calling it as such with so many unknowns and new variables in the equation would be the wrong thing to do right now, despite Lawrence Yun’s statement – ” Without Forecasts, we don’t look credible .” The Realtor update (1): 1st half 2005 : 115 had more than ten sides, 296 had more than five sides, 679 had at least one, with about five hundred or so not having a single transaction 1st half 2006 : 107 had more than ten sides, 285 had more than five sides, 740 had at least one, about four hundred fifty not having one. 1st half 2007 : 73 had more than ten sides, 232 had more than five, 687 had at least one, about four hundred with zero 1st half 2008 : 44 had more than ten sides, 169 had more than five, 619 had had least one, leaving about seven hundred with zero transactions so far this year. (out of 1201 sold residential properties) From the DP on Saturday : Many real estate agents may not manage to weather the moribund market before it solidly rebounds, Savage said.

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