Quick market update for Charlottesville MSA

I have argued that we in the real estate world track the real estate market too closely, parsing short-term data and drawing immediate conclusions in a world that demands long-term analysis. With that caveat, this is some interesting data:

From 1 January 2003 to 17 January 2003:
120 properties went under contract and
195 were listed *

From 1 January 2004 to 17 January 2004:
133 properties went under contract in and
193 were listed

From 1 January 2005 to 17 January 2005
105 properties went under contract in and
202 were listed

From 1 January 2006 to 17 January 2006
129 properties went under contract in and
389 were listed

From 1 January 2007 to 17 January 2007
109 properties went under contract and
351 were listed

A quick look shows that supply is up, and demand is about the same. The first quarter market report is going to be interesting.

*Albemarle, Charlottesville, Fluvanna, Greene, Nelson
**I intend to include Louisa, Augusta and Waynesboro in the data this year, but … for historical data I need to exclude them, as they have only recently become part of our market and MLS.

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