2014’s 3rd Quarter Market Report – Answering “How’s the Market”?

2014-Q3-Charlottesville-Market-Report.jpg

Download the 2014 Q3 Charlottesville Market Nest Report.


The #1 Question buyers and sellers ask – whether in the conference room, the coffee shop, beers or dinner, is “how’s the market?” The underlying question tends to be a variation of, “can I sell?” or “should I sell” or “can I buy a home” or “should I buy a home”?

Update: NBC29 had a nice report last night and I’ve immensely glad they used what I’ve been saying for years –

“Get advice on what this report means to them because the report gives them good guidance but every market truly is extremely localized. The Charlottesville and Albemarle areas can vary neighborhood by neighborhood, street by street,” Duncan said.

For example -

I was pulling some data this afternoon on condos in the City of Charlottesville. Comparing 3rd Quarter 2014 with the 3rd Quarter 2013, condo prices in the City were up about 15%. But. Looking at the data a bit more granularly:

In 3rd Quarter 2013, 32 condos sold in the City versus 22 in the 3rd Quarter 2014 … and one sold in this 3rd quarter for $1.1 million, with the next highest sold price being $485k. Compare that with the 3rd Q 2013 where the highest sold price was $450k.

The data matters, but the context – and relevance to your particular situation – matters more.

 


The below reports will provide some top-level insight, but be cautioned … top level analyses provide just that – insight into what others are able (or unable) to accomplish.

More digging to be done, but for now here is CAAR’s 3rd Quarter Market report.

The Nest Report will be released a bit later today has just been releasedDownload the 2014 Q3 Charlottesville Market Nest Report.

2014 Q3 Charlottesville Market Report

One of the Best Things about Living in Charlottesville

Taken this morning's bicycle ride on Garth Road.

Taken on this morning's bicycle ride on Garth Road. Taken on this morning’s bicycle ride on Garth Road.

One of the best things about living in Charlottesville is, quite simply, this time of year. The weather – the crisp temperatures, clean air, blue skies – and the changing of the leaves makes this truly a great time to live in Charlottesville.

But living in Charlottesville is one thing – making/taking the time to appreciate where we live is another.

C’Ville Pie Fest 2014 – 28 September

https://www.flickr.com/photos/belochkavita/244921874/sizes/s/

I love this about Charlottesville.

C’Ville Pie Fest is Back! It’s this Sunday at the Crozet Mudhouse, supports the Crozet Volunteer Fire Department, and pie entries are needed (there are some hungry judges!)

mmmmm … Pie.

It all started on Twitter and was, as I said at the time, ridiculously good fun at the Charlottesville Downtown Mudhouse.

And we had pie later in 2009 at Crozet Mudhouse, and it benefited PACEM.

And Pie was had in 2010.

And more pie in 2011, benefiting the Haven.

And the judges:

– Head Judge Brian Geiger
– Wendy Novicoff
– Sean McCord
– Rebecca Cooper
– Josh Harvey (Albemarle Baking Company baker)
– Nathan Moore of WTJU
– Gary Dillon of the Crozet Firefighters
– Jim Duncan (that’s me!)

Engaging with Albemarle County

An easy way to learn about and engage with Albemarle County – Engage Albemarle.

Here’s an interesting topic:

The Comprehensive Plan is Albemarle County’s most important document regarding growth, development and change. It establishes government policy to help guide public and private activities as they relate to land use and resource utilization. What general thoughts would you like to share about the Comprehensive Plan as it is being reviewed by the Board of Supervisors this summer and fall?

Better to express your opinion now in the hopes the Comp Plan can be altered than complain about the decisions that have already been made.

What would be helpful would be if the County would identify which specific parts of the Comp Plan are, or are likely to be, up for debate/discussion – in the Housing section, for example (pdf).

New Bike Lane on South Street

Bike lane on South Street in Downtown Charlottesville

The City of Charlottesville has been making some nice improvements of late. This one on South Street (just off the Downtown Mall) is mighty nice.

Bike lane on South Street in Downtown Charlottesville Bike lane on South Street in Downtown Charlottesville[/caption]

Now … for cyclists and drivers to each respect the laws …