• Home
  • Buying?
  • Selling?
  • Archives
  • Contact Jim
  • About Jim

RealCentralVA.com

Charlottesville's Real Estate Blog. Buyer &/or Seller Representation, Real Estate News

You are here: Home / Market statistics / The Nest Report – Charlottesville Real Estate Market update

The Nest Report – Charlottesville Real Estate Market update

Updated 23 January 2011 to correct a slight miscalculation.

Please read, digest, ask questions.

Download it here.

The 2010 Central Virginia real estate market was the tale of two halves. The first half was pretty good: sales were up, inventory levels were steady, buyer interest was frantic in some neighborhoods, it wasn’t uncommon to hear about multiple offer situations. Total home sales were actually up year-over-year during the first 6 months of 2010.

However, 2010 home sales were artificially pushed up to the first half of the year because of the Homebuyer’s Tax Credit. But when the tax credit expired, the market changed drastically. The second six months of 2010 represented a 180 degree change from the first six: buyer interest was down, sales were down, and great homes weren’t getting showings. As the 4th Quarter rolled around, the panic of Q3 began to subside a bit. There was a sense of calmness in the market…and even a few positive signs. While sales were down in most market segments in Q4, Contracts Written during Q4 2010 were up (or relatively steady) in many market segments. Maybe a bit of hope for 2011…

There are definitely still some issues looming. First of all, inventory levels are still too high. A ‘balanced’ market represents approximately 6 months of inventory…many market segments have 12, 18, even 24+ months of inventory. If we think of basic supply and demand, there is way too much supply…meaning prices will probably continue to back off until inventory levels come under control.


4th Quarter 2010 Charlottesville real estate market report – Nest Realty & Jim Duncan

Share this:

  • Email
  • Facebook
  • Twitter
  • Pocket
  • Pinterest
  • Print

January 19, 2011 2 Comments

Comments

  1. sherry says

    January 25, 2011 at 23:00

    Great info

    Reply

Trackbacks

  1. Tweets that mention The Nest Report – Charlottesville Real Estate Market update | RealCentralVA.com -- Topsy.com says:
    January 19, 2011 at 21:10

    […] This post was mentioned on Twitter by Sean&Vaun Coleman, cd. cd said: The Nest Report – Charlottesville Real Estate Market update http://bit.ly/eqRb7V […]

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

CommentLuv badgeShow more posts

Learn the market, Read Great Stories

Daily updates too much? One email a month? Yes please!

(I'll never spam you)

About Jim Duncan

I am a Realtor/Broker/Partner with Nest Realty in Charlottesville, Virginia. The goal of this site/blog remains unchanged in the nearly 10 years since its founding – to provide clear, coherent and unbiased analysis of the Charlottesville area real estate market.

Learn More

My goal

I help my clients make the best possible real estate decisions.

Looking for something? Find it!

Load More...Follow on Instagram

Resources

  • Ask Jim
  • Buying a Home
  • Selling a Home

Email Updates in Your Inbox

We respect your email privacy

This work by Jim Duncan is licensed under a Creative Commons Attribution-Noncommercial-Share Alike 3.0 United States License.

Top Posts & Pages

  • Dominion Power's Water Line Replacement Program - What is It?
  • Checking Internet Connectivity before you Buy a Home
  • Goodbye, Charlottesville Ice Park
  • Who Are the Major Employers in Charlottesville?
  • Homebuyers - Caution on Radon, Builders' Reps and No Representation
  • A few of My Favorite Hikes around Charlottesville
  • Disclosures versus Disclaimers - caveat emptor to a lesser degree
  • Charlottesville Land Use - A Brief History
  • Buyer Questions: New Developments in Charlottesville and Albemarle?

Copyright © 2019 · RealCentralVA

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.