Top-level real estate analysis is relevant to get a *sense* of the market, but mostly invalid when seeking to make decisions.— Jim Duncan (@JimDuncan) October 12, 2017
- Across the Charlottesville area market, quality inventory is low.
- Prices are mostly up
- New construction is doing exceptionally well (nearly 25% of the market), in the face of skyrocketing supply costs, and labor shortages.
- If you’re thinking about buying or selling in Spring 2018, best start preparations now. (I can help).
- Sales and contract volumes in some market segments are up markedly (Albemarle County townhomes’ sales are up nearly 55%).
- Every. SubMarket. is Different.
- I talked to someone recently about a foreclosure.
- Talked to someone else about a short sale.
- And another who bought in 2005 who’s just now having a conversation about profit.
- And yet another who bought in the past 18 months who could likely sell for 10% more than they paid.
- The City + The Urban Ring of Albemarle County comprise significant pieces of our market.
Throwing some context into the Twittersphere
Context matters.— Jim Duncan (@JimDuncan) October 12, 2017
re: Days on Market- 3Q 2017:
Charlottesville MSA: 63
C’ville City: 36