What’s the Most Popular Home Price Point in Charlottesville and Albemarle?

in Albemarle Charlottesville Market statistics on

At a lunch with yesterday, I was asked, “what’s the most popular price point in Albemarle?” My professional instinct said “between $350k and $450k” but as always, I wanted to back that up with actual data.

Looking solely at single family homes in Albemarle County, about 40% of the active inventory is between $300k and $650k.

Albemarle Single Family Active Homes for Sale

And the single family homes in Albemarle that have sold since the first of 2013, a greater percentage of the inventory has sold in the $300k – $650k price point than is active.

Albemarle Single Family Sold since 1 January 2013

(if you’re curious to search the Charlottesville MLS for single family homes for sale in Albemarle)

Great. That’s what’s for Sale and Sold in Albemarle County; let’s look at the home price distribution in the City of Charlottesville – nearly 60% of the active inventory is priced between $220k and $500k.

City of Charlottesville Single Family Active

Looking at the single family homes that have sold since the first of 2013 in the City of Charlottesville, I was a bit surprised to see the relatively lower price point distribution, but not that about 60% of the inventory had sold in that price point.

City of Charlottesville Single Family Sold

Look for yourself …

(if you’re curious to search the MLS for single family homes for sale in Charlottesville)

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Question – What Modern Homes Would Sell in Charlottesville?

in Albemarle Charlottesville on

What do you think?

I think there’s a real, untapped market for modern homes in Charlottesville. Latitude 38’s homes tend to look great and sell very well, for example.

I really like this home; this one, too. (not taking a photos from their site as I don’t have permission … despite it’s being “on the internet”).

The very first RoehrSchmitt Architecture creation, the Wall House is a 2,000 square foot urban infill home that was a great collaboration between the owners, architect and builder. The budget was tight and the expectations high, but working closely together the team was able to achieve the owners’ objectives in a crisp, modern package for less than $150 per square foot. The design is efficient and easily adaptable to other sites and contexts. We see it as a prototype for an affordable modern house on a typical urban lot – a loft with a yard.

As my research has evolved, I’ve finally found a reason to use Pinterest. Really. I’m saving my favorites both in Pinterest and Evernote, but Pinterest just offers a simple, efficient, clean way to save and display these homes.

I’m thinking a modern home like this would be more desirable …

http://www.flickr.com/photos/rkimberly/481512485/sizes/m/in/photostream/

… than something like this (although I am sure that this type of home would sell here – to the right buyer)

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The End of an Era – Arch’s Goes Self-Serve

in Charlottesville on

I’m sure I’m late to the news …

A staple of Charlottesville, Arch’s frozen yogurt has evolved – “Just recently, Arch’s on Ivy Road closed and Arch’son the Corner and  Arch’s on Emmet St. renovated and converted operations to the newest craze in the frozen yogurt industry….”SELF SERVE”..

Arch's Charlottesville

As said on Twitter –

Remember the popularity of TCBY in the ’80s and then all the copycats? Reminds me of how that fad came & went.

Yes.

Berry Berry, Sweet Frogs, Bloop … here’s hoping the evolution continues.

As the HooK noted last month –

… another New Jersey and New York-based eatery called Cups, yet another one of those self-serve yogurt places a la Sweet Frog and Bloop that have been capitalizing on the fro-yo fever over the last few years. Indeed, counting Arch’s, the home-grown frozen yogurt place with locations on Ivy Road, Emmet Street, and on the Corner (which recently went self-serve to keep up with the trend), as well as the soon-to-open Spoon and Berry at The Shops at Stonefield, there will be eight places in town to get the stuff, including Berry Berry on the Corner.

I’m not sad necessarily, but I do lament the loss of something that I perceive to make Charlottesville Charlottesville In high school, I spent way too much time at Arch’s before being local was cool.

As an aside:

1 – The new Google Maps isn’t yet updated with the new imagery showing the business that has replaced Arch’s
2 – The new Google Maps is amazing.

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Quick Question – Do You think Now is Time to Sell Your House?

in General Real Estate on

If you’re thinking about selling your home (in Charlottesville) you might want to do so now-ish.

Because next year … interest rates are likely to be higher. Higher interest rates impact affordability. Simple, right?

Click through for some interesting commentary from Zillow’s CEO (note: the video and insight are useful for a macro perspective, but locally in Charlottesville, Zillow’s not accurate).

See also:

Freddie Mac: “Mortgage Rates on Six Week Streak Higher

Rising Rates Scare Borrowers Into Action

As Prices Rise, Banks Repossess More Homes

Redfin Bidding War Report Shows Home-Buying Competition Eased in May

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