Median Housing Prices for Central Virginia

In response to a reader question, these are the median prices for all residential properties in the Central Virginia* region:

Quick summary – 2006 was the peak year.

2008

2008-Median-Price-Range-Charlottesville-Albemarle-Fluvanna-Greene-Nelson.png

2007

2007-Median-Price-Range-Charlottesville-Albemarle-Fluvanna-Greene-Nelson.png

2006

2006-Median-Price-Range-Charlottesville-Albemarle-Fluvanna-Greene-Nelson.png

2005

2005-Median-Price-Range-Charlottesville-Albemarle-Fluvanna-Greene-Nelson.png

2004

2004-Median-Price-Range-Charlottesville-Albemarle-Fluvanna-Greene-Nelson.png

After the break, I show the median prices for just single family homes in the region – excluding condos and attached homes.

* Albemarle, Charlottesville, Fluvanna, Greene and Nelson Counties. Data for the Shenandoah Valley – Waynesboro and Augusta Counties, is just not as robust as what we have in the Charlottesville MLS – so I am unable to post their data with confidence.

2008

Single-family-2008-Median-Price-Range-Charlottesville-Albemarle-Fluvanna-Greene-Nelson.png

2007

Single-family-2007-Median-Price-Range-Charlottesville-Albemarle-Fluvanna-Greene-Nelson.png

2006

Single-family-2006-Median-Price-Range-Charlottesville-Albemarle-Fluvanna-Greene-Nelson.png

2005

Single-family-2005-Median-Price-Range-Charlottesville-Albemarle-Fluvanna-Greene-Nelson.png

2004

Single-family-2004-Median-Price-Range-Charlottesville-Albemarle-Fluvanna-Greene-Nelson.png

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3 Comments

  1. Jim Duncan May 15, 2008 at 18:41

    A very interesting comment via my meebo widget (to the right):

    Jim, a couple of stats I discovered today. April 2008 New homes sales thru MLS higher in city than county for first time since my records start in 2002.

    Also, the 8 new homes sales in Albemarle for April 08 the lowest for any month since 2002 as well. Ryan sold 27 homes in the “division” for April 08.

    Reply
  2. Larry Jewel May 15, 2008 at 19:08

    Robert Schiller of the S&P’s Case-Shiller Index has suggested that sellers remember that 2006 was when the bubble was expanding to full size. Houses really aren’t worth what they were ‘worth’ in 2006, so it’s no wonder that the ‘median’ is declining here.

    It’s true that Cville isn’t on the the C-S Index, but it *has* been in a bubble.

    When Sellers drop their prices to 2004 levels, the median will obviously adjust itself…and soon we’ll have a market that’s moving again.

    Reply
  3. michael guthrie May 16, 2008 at 14:11

    I found it interesting that when I seached Charlottesville and Albemare stats for April 07 vs April 08, the median price for new listings 342 was $299,000 and the median list price for pendings was $299,000 down $10,000 from 4/07

    Reply

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