The DP, Charlottesville’s biggest daily newspaper, has quite the real estate focus today:
Prices put dream of homeownership out of reach (no longer available)
Flight from high prices costs in road woes (no longer available)
High housing prices hit city in rankings (no longer available)
Housing boom benefits but wages still lag (no longer available)
(All stories on one page (no longer available))
A point of clarification and expansion referencing this (I don’t know why I am taking on the ombudsman role today):
In response to the affordable housing issue, Phillips said, the real estate industry has built more moderately priced condominiums and town-houses. There are 633 active listings for attached homes, which is higher than usual, he said.
In the entire MLS, there are 638 condos or attached properties actively on the market. Albemarle, Charlottesville, Fluvanna and Greene, there are 476 condos or attached properties active on the market, 329 of which are priced under $300k, 151 are under $200k and 38 are under $150k.
Breaking the numbers down a step further to what I believe is a reasonable requirement for many, if not most:
Of all attached/condo properties on the market, with at least three bedrooms:
Under $150k: 0
Under $200k: 1
Under $250k: 2
Under $300k: 6
Another clarification:
The region’s homes-for-sale inventory is also increasing, giving buyers more choices and slightly lower prices. There are currently 3,443 active listings in the region, representing a three-fold increase over three years ago.
In Charlottesville, Albemarle, Fluvanna, Greene and Nelson, there are actually 2,581 properties on the market. I noted inventory levels two days ago, as well as on 31 May.
*Source of data: CAAR (the data was a bit iffy today for some reason)
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