May 2012 Charlottesville Real Estate Market Report

Dig in. There’s some good news here.

Download the Nest Report for May 2012 here  or read it below.

Here’s a simple “Days on Market” snapshot –

In the Charlottesville MSA:

– 667 homes have “contract dates” of at least 4/1/12
– of those, 270 have CDOM (continuous days on market) of less than 30 days
– 385 have CDOM of less than 60 days
– 451 have CDOM of less than 90 days
– 478 have CDOM of less than 120 days.
– of the remainder, 60 were on the market for at least a year – ranging from $99k to $1,95 million.

Of the 189 homes that sold in the Charlottesville MSA since 1 April 2012 with CDOM of less than 30 days:

– the % of list to sell price was about 95%

Of the 213 homes that sold in the same timeframe with CDOM of at least 120 days:

– the % of list to sell price was about 94%.

That looks like price doesn’t matter … until one keeps in mind that in the previous wildly broad and potentially inaccurate perspective, the list to sell ratio data can be so easily skewed.

If you’re looking at the Charlottesville – Albemarle real estate market, focus on your market – your segment of the market. That $1.95 million dollar house above? It’s as relevant to the $245k attached home as the fishing report on Saturn is to whether I’ll catch a fish this weekend.Nest Report May 2012

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