Some segments are moving, some are slowing, some are stagnant in the Charlottesville area real estate market. Start with this caveat – these are broad numbers that should be taken broadly. I’m going to write about this in more depth in this month’s note.
– Charlottesville + Albemarle
– Single family, attached, condos
– Not specifically looking at new construction data, as these contracts are not necessarily entered
– 1 January – 24 March, 2014 vs 2015
- In the $200k – $400k segment: 30% more contracts this year than last
- In the $400k – $600k segment: 12% fewer contracts
- In the $600k – $800k segment: 8% more contracts
- In the $800k – $1 million segment – 57% fewer contracts*
- In the $1 million – $2 million segment – 44% fewer contract*
Note also that this doesn’t reflect canceled contracts – whether for new construction or resale transactions.
* My perception is that the $800k + range has more pocket listings, but this year, the Charlottesville MLS has removed one of the greatest incentives to enter data into the MLS. I’ve written before; I trust the MLS data less this year.
Questions about the market or data? Ask me anytime.