There are almost 1200 residential properties actively on the market in CharlAlbemarle. Almost 400 of these show as vacant, while almost 300 of these vacant homes are new construction.
For the entire market area, there are about 2,000 homes on the market, 600 of which are vacant, 450 of which are new construction.
Vacant homes on the market used to be rare. Now, not so much.
Anecdotally, it feels like there are more vacant homes on the market than (almost) ever before.
I know that we have more inventory than we have seen in some time. The vacancy rate means that Sellers are 1)confident that their houses will sell, 2) they are able to carry two mortgages or 3) they are holding their breaths and hoping, with fingers crossed, that an offer will come in.
*Numbers used are mostly accurate, depending on the GIGO principle.
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I have been been representing buyers and sellers in Charlottesville, Albemarle, and Central Virginia since 2001. Get local insight born of experience.
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