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Case Shiller’s Perspective on the Charlottesville Real Estate Market

in Albemarle Charlottesville Fluvanna Greene Market statistics Nelson on

Case Shiller doesn’t track the Charlottesville real estate market. Nor Albemarle, Greene, Fluvanna, Nelson, Waynesboro, Augusta … Case Schiller doesn’t track Charlottesville.

I wrote in early 2008 that The Charlottesville/Central Virginia/Shenandoah Valley markets are not covered by the Case-Shiller index. Real estate is local; while trends may be drawn from this type of research, and while the proverbial turned-corner may still be just over the horizon, it’s important to put his study in the appropriate context.

Crap. That “horizon” to which I referred is still a ways off. But … what I said remains true. Case Schiller doesn’t track our market.

But.

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Links for 8 November 2011

in General Real Estate on

To Fix Housing, See the Data – (NYTimes) – The case for principal write downs.

Would Higher Interest Rates boost the Housing Market? – (The Atlantic) –

Local Food: No Elitist Plot (NYTimes)

Making Sense of Home Price Data (Smart Money)

Making Sense: Market Reports all over the place (The HooK)

The Economics of City Mouse vs. Country Mouse – (Get Rich Slowly) – Charlottesville provides a good mix of both City (by our definition) and Country (which is easy enough to get to in under 15 -20 minutes. How you want to live will determine where you want to live.

Mind mapping my social networks – next map will be the flow of information.


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Charlottesville Area Association of Realtors’ 3rd Quarter Market Report (2011)

in Market statistics on

More to come. In the meantime, have a look at the market report.

CAAR 3rd Quarter Real Estate Market Report – 2011

This post will be updated throughout the day as I get opportunities to look at the data. …

Notes:

– The above report is for the entire Charlottesville MLS area, not Charlottesvill and Albemarle or even the Charlottesville MSA (Charlottesville, Albemarle, Fluvanna, Greene, Nelson) or even the Charlottesville MSA + Louisa. So take it for what it’s worth – a very broad overview of the entire Central Virginia region. Example: in Amherst, Augusta, Buckingham, Goochland, Rockbridge and Lexington, there are 156 closed transactions in our MLS … which isn’t particularly relevant to real estate consumers in the Charlottesville area.

– Days on Market is not statistically accurate, as it does not reflect relistings of properties.

– The Charlottesville market is still declining.

– Detailed market report from Nest coming soon, as is county by county break down.

– Townhouse/Attached median sold price is down in the Charlottesville/Albemarle area, in no small part due to Ryan Homes’ driving prices through the floor market-wide.

– Median sales prices are down, but inventory is down as well; the latter qualifying as a good data point.

– What questions do you have about the market data?

Interactive Charts are after the jump; I choose to use the static charts rather than the interactive reports as I don’t like to be locked into a service; I pay $30 a month for access to the deeper data and if I choose to not pay for the service, the interactive charts go away … not a good option.

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