April 2012 Charlottesville Real Estate Market Report


– Days on Market (an inherently flawed data point, yet still relevant trend) are down in Charlottesville, Albemarle and Fluvanna.

– Average Sales prices are down (not surprising)

– Total sales across the MSA are down (not surprising)

– Total inventory is down. (this may not be a good thing, but so far this year, it has been perceived as good in Charlottesville) see: Reason & Matrix  

Thoughts/initial conclusions:

– More buyers are looking to be closer in/closer to stuff

– Good properties are selling and selling quickly

– Interest rates remain low – a good thing for buyers.

– I think we may have pulled the spring market forward a bit; the early spring may have pulled transactions into the earlier months of the year.

Dead simple Takeaways:

– Buyers: do your due diligence, don’t let emotion enter the equation and make sound, rationale decisions with the intent of holding the property for at least five to seven years

– Sellers: do your due diligence and realize that buyers most often don’t have to buy, but want to buy – it’s your job to make them want to buy your house. This means: price, presentation, perfection … and a great location and setting.

Download the April 2012 Nest Report

Nest Report – Charlottesville Real Estate Market Report for 12 April 2012

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  • Dave

    Always appreciate the rational thought you bring, Jim. Your candor and willingness to cut through the hype (whether it be sky-is-falling or recovery-is-in-full-swing!-hype) is a welcome antidote.

    • http://www.realcentralva.com Jim Duncan

      Thanks, Dave. I find it’s easier to be blunt and hype-free. Looking at the numbers and trying to discern insight is easier when I don’t have to look for the hype. :)