Albemarle County Real Estate Market Update – August 2011

What’s happening the Albemarle County real estate market? Lots of stuff. Perhaps the two most relevant posts I’ve written in the past few weeks are these:

Goodbye, 0-5 Buyer -OR- Finance a House or an Education? in which I discuss the elimination of the short-term homeowner and this effect on the Charlottesville area real estate market

and

Categorizing the Charlottesville Real Estate Market – in which I break the market down into four segments – from distressed to price aggressively.

This is just a reasonably high-level overview of the Albemarle real estate market. But … this matters little to you if you’re looking for a home in Albemarle, start your home search here. If you’re curious about what’s happening in your location in Albemarle, or are currently searching for homes for sale in Albemarle, please feel free to contact me anytime with questions.

Sold listings are down in Albemarle County year over year:

See also:

Charlottesville MSA Real Estate Market Update – 30 August 2011 – How this matters to You

Median Sold Price for Single Family homes in Albemarle County is down. I opted for embedding the data rather in lieu of the pretty chart – figure most of my readers prefer numbers rather than flash.

Active inventory is down – and this is a good thing.

New listings coming on the market is good as well – eventually, fewer homes coming on the market combined with (really, we’ll get there eventually) will lead to a balanced market. When will we achieve balance? No one knows.

* Of the options available in the new real estate data package, the ones that I cannot use are the Days on Market and the Ratio of Original List Price to Final Sold Price – both of which are far too easily manipulated.

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