Some somewhat random data musing for the day — (when I initially wrote the headline, I was including new construction … which massively increases the totals).
Excluding new construction, City of Charlottesville has 184 homes on the market – highest is $2.75mil, lowest is $69k. Total is $78 mil.
— Jim Duncan (@JimDuncan) May 26, 2015
Last year in the City of Charlottesville, 517 homes (condos + attached + single family) sold – the median price was about $262k and the total sold was about $162 million worth of real estate.
And this:
Excluding new construction, Albemarle County has 753 homes on the market – highest is $14mil, lowest is $42k. Total is $643 mil.
— Jim Duncan (@JimDuncan) May 26, 2015
Last year in the County of Albemarle, 1467 homes (condos + attached + single family) sold – the median price was about $330k and the total sold was about $624 million worth of real estate.
The question I’m going to try to answer later this week is “What are your metrics for gauging market health? How do you decide whether Albemarle is ready for a $1b MKT?”
I do know this – “normal” is now.
Interested in Learning More?
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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