Highlights:
– Days on Market (an inherently flawed data point, yet still relevant trend) are down in Charlottesville, Albemarle and Fluvanna.
– Average Sales prices are down (not surprising)
– Total sales across the MSA are down (not surprising)
– Total inventory is down. (this may not be a good thing, but so far this year, it has been perceived as good in Charlottesville) see: Reason & Matrix (no longer available)
Thoughts/initial conclusions:
– More buyers are looking to be closer in/closer to stuff
– Good properties are selling and selling quickly
– Interest rates remain low – a good thing for buyers.
– I think we may have pulled the spring market forward a bit; the early spring may have pulled transactions into the earlier months of the year.
Dead simple Takeaways:
– Buyers: do your due diligence, don’t let emotion enter the equation and make sound, rationale decisions with the intent of holding the property for at least five to seven years
– Sellers: do your due diligence and realize that buyers most often don’t have to buy, but want to buy – it’s your job to make them want to buy your house. This means: price, presentation, perfection … and a great location and setting.
Download the April 2012 Nest Report
Nest Report – Charlottesville Real Estate Market Report for 12 April 2012
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I have been been representing buyers and sellers in Charlottesville, Albemarle, and Central Virginia since 2001. Get local insight born of experience.
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