Brief Real Estate Market Update for January 2014

A snippet from my monthly note:

Market Update for Charlottesville and Albemarle:

Single family home sales in December 2013 vs December 2012: 87/89 – Same, as far as I’m concerned
Single family home sales in 2013 vs 2012: 1302/1215 – Up 7%

Attached home sales in December 2013 vs December 2012: 23/24 – Close enough to be the same.
Attached home sales in 2013 vs 2012: 441/339 – Same

Condo sales in December 2013 vs December 2012: 6/13 – Down 54%
Condo sales in 2013 vs 2012: 167/234 – Down 29%

Keep in mind that these stats are likely not completely up to date, as agents are still entering in closings from 2013. But they’re likely close enough to say that there were a few more Charlottesville/Albemarle single family homes sales in 2013 than 2012, attached home sales were about the same and condo sales were way down (mainly because Walker Square condos sold out in 2012). And you know what? We’re due for some stability, free of spikes and drops.

List sooner rather than later (Y’know, I’m a Realtor. You could call me . :) )

I suspect that we’re going to see more inventory as the year progresses.

More inventory means more competition and selection for buyers. More competition means potential price appreciation for sellers is likely to be diminished.

Charlottesville MSA Listed, Contract, Sold.png
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