Many years ago, an economist told me that if you don’t make predictions, people are less inclined to trust you. So, here I go.
Assuming our country is still here next year, and economically things stay mostly the same …
- Shortage of good inventory is going to remain a driving force in the Charlottesville – Albemarle market
- New construction will continue to be a large (~25% – 30%) percentage of the Charlottesville/Albemarle market
- The Courts will stay where they are, and the Albemarle County Office Building will move.
- More real estate agents will enter the market, thinking this business is easy. Getting in is easy. Staying in is harder.
- Marketing teams at Nest will continue to rock; they are remarkable people doing incredible things every day.
- Average prices across the board will go up by about 6%. (Don’t forget about micro markets and how unwise it is to make such blanket statements.)
- “Pivoting to video” will continue to be unwise.
- The need for great, consistent local media will grow.
- The Landmark Hotel will see something that resembles progress towards completion.
- Property assessments are going to go up in the City and the County… and there’s going to be a big ol’ fight about it.
- Someone is going to seek enabling legislation to get Impact Fees to help deal with the poor infrastructure
- The City of Charlottesville and County of Albemarle will continue to be very good at planning and very poor at implementing. Okay. that was too easy.
- We are going to hear more about Blockchain. Maybe Redfin, too.