Quick housing inventory update for Charlottesville real estate market

In light of the national new-home sales numbers showing their largest drop in 12 years, here is some local context. These are for all inventory, re-sale and new homes; I don’t trust the MLS data sufficiently regarding new homes sales.

December 2003
215 residential properties sold.

December 2004
249 residential properties sold.

December 2005
258 residential properties sold. 1379 active units on the market = 5.34 months of inventory

December 2006
192 residential properties sold. 1922 active units on the market = 10.01 months of inventory

December 2007
138 residential properties sold. 2169 active units on the market = 15.72 months of inventory

*The MLS now only allows statistical analysis reports back only three years, so I am unable to pull inventory data for anything earlier than January 2005.
*These numbers are for Albemarle, Charlottesville, Fluvanna, Greene & Nelson Counties.

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