1st Quarter 2015 Nest Report

Nest’s 1st Quarter Market Report is out; download it here.

A few highlights –

• Total sales in the MSA are down just a bit. I suspect due to the extended cold and snow.
• Contracts written are up – way up. 24% in the Charlottesville MSA, 26% in Albemarle County, and 13% in the City of Charlottesville.
• If there was enough good inventory in the City, the number of contracts written would have been higher.

Some Days on Market perspective – 

In Albemarle County, about half the homes that went under contract went under in less than a month.

• 457 contracts were written in the 1st Quarter
• 154 had days on market of less than 7
• 191 had days on market of less than 14
• 245 had days on market of less than 30
• … but not everything is moving fast – 139 had days on of more than 90

In the City of Charlottesville, nearly 60% of homes that went under contract went under in less than a month.

• 146 contracts were written in the 1st Quarter
• 54 had days on market of less than 7
• 68 had days on market of less than 14
• 85 had days on market of less than 30
• … and 40 had days on of more than 90

Prices are trending up.

Inventory is trending downward.

Your market – your neighborhood, street, house type – will vary. The market – as a whole – is doing better. You may or may not be …