National Housing Numbers Mean What for the Charlottesville Real Estate Market?

I was saving this post and data for Friday, but the release of the national housing data spurred me to publish today.

Why June and July rather than just June or just July? Both are post-tax-credit months and are indicators of the state of the Charlottesville real estate market.

Keep the national data in the proper context; that data is meaningful, but not as meaningful as data localized for your real estate market.

See the raw data used for the charts below. (no longer available)*

Charlottesville and Albemarle Attached home sales – June and July for the past decade:

Charlottesville and Albemarle Single Family home sales – June and July for the past decade:

Charlottesville MSA Attached Home Sales – July for the past decade:

Charlottesville MSA – Single Family Home Sales – June and July for the past decade:

So … what are home prices doing in the Charlottesville MLS**?

– The moving median price for the past 200 days shows stability.

– The moving median price for the past 90 days shows what may be a coming decline.

– The moving median price for the past 200 days shows stability.

– The moving median price for the past 7 days shows that the Charlottesville real estate market has transactional volume sufficient to be swayed by even a few transactions.

Looking at the moving median home price for the Charlottesville MLS for the past year,we see the spike attributable to the housing tax credit and either what could be the bottom or the first dip.

And now for the past five years:

And really, if you’re surprised by this drop, you haven’t been paying attention; we’ve been seeing these trends in the Charlottesville housing data for quite some time.

“But no matter when one thinks summer ends, it’s already way past obvious that the Obama administration’s “Recovery Summer” has been and will end up being a big, fat, embarrassing failure. (archived: 2025)“

Not to get too political, but I’m tired of seeing taxpayer dollars spent to try to sell us campaign fictions when we need real leadership. Please don’t try to shine up a bag of crap and sell it to me as a bag of sunshine and rainbows. It’s disingenuous, dishonest, disrespectful.

Related News:

Housing: No Longer A Sure-Fire Wealth Builder – The Big Picture

The Impact Housing Inventory Has on Prices – Keeping Matters Current

Housing Market Insight – Week of August 23rd (archived: 2018) – Bigger Pockets Blog

Housing: Still Widely Misunderstood – The Big Picture

Existing Home Sales Plummet 27& – The Big Picture

Existing Home Inventory decreases 1.9% Year-over-Year – Calculated Risk

Existing Home Sales lowest since 1996, 12.5 months of supply – Calculated Risk

* You won’t find this data anywhere else.:)

** Charlottesville MLS = Charlottesville, Albemarle, Fluvanna, Greene, Nelson, Louisa … Rockbridge, Madison, Orange, Waynesboro, Augusta and others that aren’t part of the Charlottesville MSA or region.