There are currently 1591 properties actively on the market in Charlottesville, Albemarle and Fluvanna (203 of which are condos).*
438 of these 1591 properties are marked as New Construction – 28% of properties on the market now in the above localities are new construction. How many have actually broken ground and are currently under construction? Hard to tell.
434 are not listed as New Construction and are vacant – nearly 38% of resale homes on the market are vacant. Ostensibly, these homeowners are managing two house payments at the same time. Contrast this with the Census Bureau’s vacancy rates.
Good times and good opportunities for buyers.
*Data is from the CAAR MLS, which contains most, but not all property information.