Nest’s Mid-Year Real Estate Market Report

Today, Nest Realty Group released our first mid-year market report (archived: 2011). Personally, I am excited about this because it represents one of the reasons we originally partnered – to produce more thorough and comprehensive real estate market reports and analysis for the Charlottesville, Virginia region. This report is but a start, as we are already planning supplements to the report.

Please, read the whole thing (archived: 2011). Download it as a PDF with full charts and graphs here.

From the "Positive Signs" section (bolding mine):

2. Anecdotally, if you talk with any active Realtor in the local market, they’ll tell you that there are definitely buyers looking at properties. We don’t have access to the ‘total number of house showings’ for the entire Charlottesville EMSA, but there is a healthy flow of real buyers still in our market that are ready, willing, and able to purchase homes. Here’s the proof: approximately 1 in 3 single family homes in Charlottesville and Albemarle that have sold in 2009 were on the market for less than 30 days (32% to be exact). In fact, approximately 1 in 4 single family homes that have sold so far in 2009 went under contract in less than 2 weeks. While we’re not completely sold on the accuracy of ‘Days on Market’ (DOM) given that some Realtors attempt to ‘game‘ the system, it is a positive sign that homes do sell quickly if they are in good condition, in a good location, and priced well.

If you have any questions, please feel free to contact us anytime. We licensed it under a Creative Commons license, so feel free to use it how you see fit (with attribution, of course).

Update: Direct Link to PDF is here.