“Ofheo (Office of Federal Housing Enterprise
Oversight) says that average home prices rose 11.17 percent from the fourth
quarter of 2003 to the fourth quarter of 2004…. But what happened to home
prices just in those last three months of 2004?… Average home prices rose
1.69 percent in the fourth quarter, for an annualize rate of 6.77
percent.”
Oversight) says that average home prices rose 11.17 percent from the fourth
quarter of 2003 to the fourth quarter of 2004…. But what happened to home
prices just in those last three months of 2004?… Average home prices rose
1.69 percent in the fourth quarter, for an annualize rate of 6.77
percent.”
…We continue to have a
simple supply and demand market. Large demand, driven in large part by the
University, not yet matched by an equal supply. Simply put, the market is
strong and looks to continue that way for some time…. *Note my disclaimers
from purporting to be an actual fortune teller.
“Ofheo (Office of Federal Housing Enterprise Oversight)
says that average home prices rose 11.17 percent from the fourth quarter of 2003
to the fourth quarter of 2004. That’s the year-over-year comparison. But what
happened to home prices just in those last three months of 2004? The pace of
appreciation slowed. Average home prices rose 1.69 percent in the fourth
quarter, for an annualize rate of 6.77
percent.”
says that average home prices rose 11.17 percent from the fourth quarter of 2003
to the fourth quarter of 2004. That’s the year-over-year comparison. But what
happened to home prices just in those last three months of 2004? The pace of
appreciation slowed. Average home prices rose 1.69 percent in the fourth
quarter, for an annualize rate of 6.77
percent.”
What does this mean for
the Central VA region? Not much. We continue to have a simple supply and demand
market. Large demand, driven in large part by the University, not yet matched by
an equal supply. Simply put, the market is strong and looks to continue that way
for some time. Maybe. Perhaps. Probably. *Note my disclaimers from purporting to
be an actual fortune teller.
Interested in Learning More?
I have been been representing buyers and sellers in Charlottesville, Albemarle, and Central Virginia since 2001. Get local insight born of experience.
Dig Deeper
Always Read Covenants and Restrictions
You never know what you're going to find when you dig into Covenants and Restrictions. "1. No shop, store, trailer, temporary living structure, factory, hospital, asylum, institution, tourist home or business house of any kind, and no apartment house shall be erected or maintained on…
Revisiting the “0 to 5 Buyer is Gone” Post – 15 years later
Revisiting the “0-5 Buyer Is Gone” Theory We’re in a different market now. Some of the people who bought between 2021 and 2024 are trying to sell — and the ones who bought new construction, now competing against new construction, are having a hard time.…
A Charlottesville e-bike Success Story
I have an e-bike. I love my e-bike. I ride it to meetings all over the City of Charlottesville instead of driving my car. e-bikes are great. A friend got an e-bike. He loves his e-bike. He has a different perspective, and I asked him…
Flipping the Switch, Part 3: ADUs, Zoning, and the Practical Guide
Flipping the Switch, Part 3: ADUs, Zoning, and the Practical Guide Part 1 covered the data. Part 2 covered the design. This week: the regulatory landscape, the ADU reality check, and the practical checklist. The ADU Conversation Has Changed When I wrote about this in…