Home Sales Trends in Virginia – From Virginia Association of Realtors

I was on the Virginia Association of Realtors’ (no longer available) third quarter conference call this morning. There were very interesting and often divergent outlooks from the different regions of the Commonwealth.

For the purposes of this report, Charlottesville is in the “Central Valley” Region, which includes:

Albemarle, Augusta, Bath, Buena Vista City, Charlottesville City, Fluvanna, Greene, Harrisonburg City, Highland, Lexington City, Nelson, Rockbridge, Rockingham,Staunton City,Waynesboro City

This is the moving median average price for homes in the Charlottesville MLS for the past four years.

– “So for all intents and purposes, the report is somewhat irrelevant as it speaks to such a broad region.”

– “Because Virginia is a non-judicial state, we most likely won’t be affected by the robo-signing issues.”

– “Analysis of past two recessions compared to this one. This recessions’ recovery is stronger than 1991 and 2001, doesn’t feel like it due to in part to consumer confidence (archived: 2019).”

– “Three consecutive months of positive job growth in the state.” (Although the Charlottesville area lost 3k jobs last year (archived: 2010))

Virginia Association of Realtors 3rd Quarter 2010 Home sales press release (PDF) and I’ll post the podcast when it’s up. Here’s the podcast (archived: 2011).

Charlottesville and Albemarle Sales and Inventory history (PDF) — Check out the new graphs at the bottom.