What does this mean? It means simply that the Greene County real estate market – and Greene County itself – is becoming more self-sufficient and independent of Charlottesville-Albemarle (CharlAlbemarle). People are choosing to buy and live in Greene County and don’t have to commute into the City of Charlottesville or Albemarle to work. I’d *love* to see updated commuting data from the US Census.
In this market, a slowing decline of home prices is a good thing. Seriously.
This is just a reasonably high-level overview of the Greene County real estate market. If you’re curious about what’s happening in your location in Greene, or are currently searching for homes for sale in Greene, please feel free to contact me anytime with questions.
Sold listing volume is down just a bit in Greene County year over year:
Charlottesville MSA Real Estate Market Update – 30 August 2011 – How this matters to YouMedian Sold Price for Single Family homes in Greene County is down but hopefully that decline is moderating. I opted for embedding the data rather in lieu of the pretty chart – I figure most of my readers prefer numbers rather than flash.
Active inventory is up, and I’m thinking that this is due to the rapidly increasing new construction segment in Greene County.
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. There has to be an explanation for this sharp decline â€¦ again, I’m presuming this is due to some new construction properties’ fluctuations in the Greene County market segment.
* 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.