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.
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.