Region’s home sales continue at blistering pace

Indeed, despite some predictions of a coming slowdown, home sales in the Charlottesville area continued at a fierce pace in the just-ended second quarter of 2005, exceeding the numbers for the same period of 2004.
“We continue to see a great real estate market,” said Dave Phillips, CEO of the Charlottesville Area Association of Realtors. “All looks bright and rosy.”
According to the association’s data, 1,300 homes were sold in the Charlottesville market area during the second quarter of the year, up nearly 5 percent from the second quarter of 2004. From the DP (no longer available).
Keep in mind, however that CAAR’s data (archived: 2006) does not have all the home sales in the region. Discount brokers that do not put their properties in the MLS as well as FSBOs comprise perhaps 10% of the market -this is a fairly substantial percentage, and these homes tend to sell for significantly less than if they were marketed as broadly as possible. (Source: Realtor.org.)
Either way you look at the data, housing prices continue to rise due to the massive influx of people from other areas of the country and world.