Friday Chart – Charlottesville & Albemarle – February Homes Under Contract

How good (or bad) will February home sales be in Charlottesville, Albemarle and the surrounding counties?

We’ve been talking recently about what the effects the various snowpocalypses have had on the Charlottesville real estate market; people were snowed in, buyers couldn’t get out to see houses (yet another argument for high-quality photos and videos in the Charlottesville MLS), sellers couldn’t get their houses ready or activated on the market … the consensus has been that February 2010 was going to be a pretty sorry month for home sales.

But the data seem to indicate something different … February doesn’t look to be so awful relative to February 2009. I suspect that we’ll see another 10-20 contracts written at least this weekend.

This clearly does not account for canceled contracts, contracts that fall apart due to home inspections, financing or appraisal issues …

Homes – single family, attached and condos – that went under Contract in February in the Charlottesville MSA*

Homes – single family, attached and condos – that went under Contract in February in Charlottesville and Albemarle –

12 condos went under contract in February. 8 were foreclosures or short sales. Two were owned by an LLC, and the remainder appeared to be normal, private sales. This really could be the year of the short sale and more foreclosure delays.

As always, the data is after the jump.

For Charlottesville and Albemarle in February 2010 for far:

– 2 8 were new construction attached
– 31 were resale attached
– 0 9 were new construction single family detached
– 64 were resale single family detached
– 12 were condos
– 0 0 were new construction condos

(and yes, I added the above manually and they match the spreadsheet. 🙂 )

Update 1 March 2010:

Thanks to Greg, I fixed the new construction numbers above.

Charlottesville MSA for these purposes includes Charlottesville, Albemarle, Fluvanna, Greene and Nelson

See all previous Friday Charts at RealCentralVA, Charlottesville’s most widely read real estate blog.