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2012 is in the Past – Looking Forward at the 2013 Charlottesville Market

YearEnd_2012_NestReport_CharlottesvilleMSA.pdf (page 3 of 9).jpg

1 – Inventory is low – (good for sellers, not so good for buyers)

2 – Interest rates remain low

3 – Prices (in many market segments) have stopped dropping, and are largely increasing.

4 – Sales volume is up across the board

5 – As always, do your own, supporting due diligence; your market will vary.

Click through to read the full Nest Report.

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April 2012 Charlottesville Real Estate Market Report

Highlights:

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

– Average Sales prices are down (not surprising)

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

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.

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