Date Archives October 2011

Charlottesville – A Healthy Housing Market (for New Construction) – With some Context

There’s danger in putting much faith in large-scale housing analysts and analysis, but I’ll take Builder online noting Charlottesville as being relatively healthy as a good thing.

Reason #1 that I’ll give the analysis a bit of credibility: They explicitly recognize “Charlottesville” as “Charlottesville metropolitan area”. Most lists about “Charlottesville” do not seem to recognize that “Charlottesville.”

Really, we’re less bad than many, many other markets.

From Builder magazine: (better context for building permits’ history at the bottom of this post)

6: Charlottesville, Va.

– Health Index: 81.0
– 2010 Population Forecast: 201,599
– 2011 Total Building Permit Forecast: 634
– 2012 Total Building Permit Forecast: 798

Charlottesville isn’t a very big housing market, but it’s a pretty strong one. Home to the University of Virginia, the region has benefited from some strong household growth in recent years. It continues to attract second-home buyers from Washington, D.C.

Bargains are tough to come by in Charlottesville, where the median home price in August stood just below $300,000, according to local real estate agent reports. Though prices are down so far this year, Moody’s expects them to rise 1% next year.

The region has had some strong household growth in recent years, a trend expected to continue through 2012. It will also benefit from strong growth in median income–3.7%.

You know what? I’ll take good news/analysis. We need it.

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Fall Foliage and Festivals in Charlottesville

Fall is the best time of year in Charlottesville; Spring is a close second.

I closed with this last year; this year I’ll lead with it:

Enjoy the colors, because you never know; you might not be here next year.

Fall Foliage in Charlottesville

Question from a reader: I am planning a trip to Charlottesville to photograph the fall folliage. It is a day trip and I am trying to figure the best place to go.

Answer: Anytime between the second week of October and the second week of November.

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