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Vacant houses

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I’ve written about vacant houses before.In the Charlottesville/Central Virginia area*, there are 1709 residential properties on the market.  620 of these are vacant – a staggering 36%.Breaking the numbers down a hair more:1278 properties are not marked as “new construction.”38% of these are vacant.  The 38% number surprised me a bit; I don’t know why, exactly.

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Vacant Homes in Charlottesville & Albemarle

in Albemarle Charlottesville General Real Estate on

There are almost 1200 residential properties actively on the market in CharlAlbemarle.  Almost 400 of these show as vacant, almost 300 of these are vacant homes are new construction.  For the entire market area, there are about 2,000 homes on the market, 600 of which are vacant, 450 of which are new construction.Vacant homes on the market used to be rare.  Now, not so much.  Anecdotally, it feels like there are more vacant homes on the market than (almost) ever before.  I know that we have more inventory that we have seen in some time.  The vacancy rate means that Sellers are 1)confident that their houses will sell, 2) they are able to carry two mortgages or 3) they are holding their breaths and hoping, with fingers crossed, that an offer will come in.*Numbers used are mostly accurate, depending on the GIGO principle.

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