And what will be the impact this year?
What exactly is Match Day? I like this description from last year.
Match Day is when 4th year medical students find out which residency program they matched with. Next year (actually this year – 2007), that day is March 15. On March 13, two days before, you find out IF you matched or not. If you don’t match, then you have two days to â€œscrambleâ€ into a program, ANY program that wishes to take you.
What’s a Resident generally looking for?
– At least three bedrooms
– At least two bathrooms
– Under $275k (some go higher, depending on their background, family support, etc)
– No more than twenty minutes from the UVA Medical Center.
Get started on learning the market here. Many new Residents, after analyzing the Charlottesville real estate market, determine that purchasing is a better option than renting. If you’re planning to be here for more than four years, this may very well be the case.
The question is – will they buy this year? Residents provide a much-needed stimulus (real, not fabricated) to the Charlottesville economy. Every year, new Residents match in Charlottesville; every year some rotate out to the next phase of the lives after completing their Residency.
To get acclimated, look at this map; once you eliminate at least two of the areas, your search will be much more efficient. You may find yourself going outside the confines of Charlottesville and Albemarle.
There is significant uncertainty in the Charlottesville market now; but – for those who are ready, willing and able to buy, there are significant opportunities in the market.