Believe it or not, houses are selling in the Charlottesville area. It may not feel like it due to the significant amount of inventory currently on the market.
Between 1 September 2006 and yesterday, 27 January 2007, 1188 properties were listed in the MLS (*975 of the properties listed in 06/07 were not condos and 958 listed in 05/06 were not condos).
In that same time period in 2005-2006, 1260 properties were put on the market. Quite simply, homes are taking longer to sell; well-priced homes (priced well from Day 1) are selling.
340 properties were listed from 1/1/5-1/28/2005 and 193 went under contract.
532 properties were listed from 1/1/6-1/28/2006 and 207 went under contract.
441 properties were listed from 1/1/7-1/28/2007 and 116 went under contract
**This post was inspired by my clients whom I showed around this weekend. Their question: “How many properties come on the market?” translated to “How many properties come on the market in Charlottesville/Albemarle?
**Doubly inspired to combat the perception that our market is dead in the water. Properties are in fact selling. Believe it or not.
**Source: CAAR
My fascination with numbers and data confounds me, as I was an English major and have always had an aversion to math. Ah, well. Adapt and overcome, I guess.
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Jim Duncan has been helping buyers and sellers in Charlottesville’s neighborhoods for 25 years. Get local insight born of experience.
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