A few highlights (there are more in the report) –
1 – Inventory is down across the Charlottesville MSA. Quality inventory is seemingly non-existent, depending on your market segment.
2 – Buyers are smart, savvy and patient. Prices go down, sales volume goes up.
3 – New construction costs are up across the board.
4 – Distressed sales continue to drop; they still comprise a significant volume, but less now.
5 – Shadow inventory remains an unknown and thus, a concern.
Click through to read the entire report.
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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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