Might the Charlottesville real estate market be stabilizing? I’ll let you know in 18 months.
Looking at all residential properties in the Charlottesville MSA put under contract in the first 27 days of the year over the past ten years …*
Does 27 days lead to a trend? Doubtful. But maybe it’s an early indicator. Or maybe it’s just an interesting Friday Chart.
99 single family homes + 25 attached homes + 17 condos = 141 properties put under contract in the first 27 days of January.
What does this mean to you, if you’re thinking about buying a home in Charlottesville right now? Maybe it means that the market is stabilizing. Maybe it means that we’re seeing normalcy. Maybe it is a precursor to real estate armageddon. Housing sales are at an all-time low (nationally) … make sure to educate yourself about the Charlottesville area market as well.
It means that you as a buyer need to do your due diligence. You need to align yourself with an advisor who has your best interests in mind, one who takes a realistic approach, one who is not afraid to tell you to rent, one who analyzed the market consistently.
Raw data after the jump …
* Source: Charlottesville Area Association of Realtors’ MLS