Posts tagged Market statistics

Charlottesville MSA Homes Listed, Sold and Put Under Contract

Charlottesville Real Estate Market Update: Transaction Volume for 2000 – 2011

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Part Two of … See Part One – Charlottesville MSA – Single Family & Attached Homes Placed Under Contract – First Five Months

Looking at the Charlottesville MSA for transactional volume history … what we need is stability and consistency. Once we can reach a relatively stable number of transactions, I think we’l be able to start to see normalcy, whatever that is … maybe ~ 1000 transactions per year?

For the first five months of the year, what we’re looking at here is everything – single family detached homes, attached homes, new construction, resale, condos …

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What's Selling in Charlottesville/Albemarle? Single Family homes, attached homes, condos?

What’s Selling in Charlottesville? Single Family, Attached homes or Condos?

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Part Three of …

One of the most common questions I get is – what is selling in Charlottesville and Albemarle? Condos? Attached homes? Single Family? A look at the data gives a look at some answers …

NB:

– I’m keeping this focused on only the City of Charlottesville and the County of Albemarle as that is where the bulk of the attached homes and condos are located.

– Single family homes have come to be more affordable, leading to a decline in transactional volume within the condo and attached home segments of the market.

– 2005 was very good for condo conversions; now the condo conversions have been decimated in value.

– Attached homes can be very attractive – newer ones in good condition price right, especially so.

– Homeowners Associations’ fiscal health is likely to be more and more of an issue as this market correction continues to correct.

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Quick Real Estate Market Snapshot – What’s Happening Right Now

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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 Single Family Homes in Charlottesville MSA - 2011 vs 2010 Attached homes: – 9 fewer have come on the market – 24 fewer have gone under contract – 6 more have sold in this timeframe Attached Homes in Charlottesville MSA - 2011 vs 2010 Condos : – 1/3 fewer have come on the market – 8 fewer have gone under contract – 8 fewer have sold Condos in Charlottesville MSA - 2011 vs 2010

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Charlottesville Area Association of Realtors’ 1st Quarter Real Estate Market Report

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Like the new format? Charlottesville Area Association of Realtors' 1st Quarter Real Estate Market Report 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.

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Monday Links – 21 March 2011 – Short sales, good news, real estate radio & inconsistencies

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– 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.

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