Friday Chart – Charlottesville MSA Real Estate Update – First 47 Days

I’m always trying to get a handle on what’s happening in the Charlottesville real estate market**, and while anecdotal evidence is useful, data is mighty helpful as well.

Showed two houses today. One – on market for 2 days w/ 2 offers. Other – on market for 300+ days, likely w/ an offer.

Today we’re looking for trends; as I’ve said for years, looking at data from any level other than this house (whatever that house is) can be misleading. Real estate trends such as the ones below lead to buyer and seller psychological analysis as much as anything else.

Succinctly:

# of homes that have been listed: down 10% (good news)*
# of homes put under contract: up 3%
# of homes sold: down 2%

Stupid Google Charts not embedding properly

Link to the full spreadsheet.

Every time I see just how dead 2009 was, I’m a little surprised, and thankful to have made it through that time period.

*This could mean there is a lot more shadow inventory waiting in the wings.

**Charlottesville EMSA = Charlottesville, Albemarle, Fluvanna, Greene, Nelson, Louisa

As always, raw data after the jump:


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2 Comments

  1. Alex February 18, 2011 at 21:12

    Aloha Jim,

    What percentage of your active inventory consists of REO’s and Short Sales? And how quickly are those being absorbed by the market? Very interested in knowing how things are shaping up in Charlottesville (I have clients relocating from there).

    Reply
  2. Barrie Real Estate March 3, 2011 at 15:02

    Who ever thought of this was definitely thinking a lot. He/She maybe thinking the whole day on how to make successful deals to clients especially for direct buyers.

    Reply

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