Update 10 September Looking at the 2017 market (a very active market) for some context: In Charlottesville + Albemarle, 2,379 homes sold via the MLS. 485 of those were new construction 1,894 were resales 737 of the 1,894 - 39% - were marked as vacant. Now I'm more curious - was the vacancy rate so high because sellers were so confident that they could sell? No answers yet, but curious. Funny thing about practicing real estate, and writing about it, for so long ... some stories become … [Read more...] about Vacant Homes for Sale in the Charlottesville Area – 2018 edition
Q: Is the Charlottesville Real Estate Market Turning? A: I don't know. Yet. I've been saying for months that a turn may be coming, and noted it in the July monthly note. And, I've been saying for years that I'll tell you in 18 months what today's market is actually doing. Hindsight is key; reading current indicators is critical. Housing Inventory Tracking "Watching existing home "for sale" inventory is very helpful. As an example, the increase in inventory in late 2005 helped me call the top for housing. ... … [Read more...] about Is the Charlottesville Real Estate Market Turning?
I live in Crozet; it's easy and natural to focus on that micro-market. https://youtu.be/jeVedaR0Ess The first half of 2018 is behind us, and we talked about resales vs new construction, home prices, where in Crozet homes are selling, what happened with home inventory over the past few years. Note that this is a longer video than typical; we covered a lot. Thanks to the Rooftop for letting us use their ... Rooftop. (Greg and I are getting accustomed to doing these videos together ... we will get better) Transcript … [Read more...] about Mid-2018 Crozet Real Estate Market Update
Download it. Dig into it. Ask questions. Broadly Sales up Prices up Days on Market Down Inventory down Sales volume is up As I'm writing in my coming-this-week Monthly Note: What is it that buyers and sellers want to know? Can I/should I buy a home now, or should I wait? Can I/should I sell my home now, or should I wait? If I'm able to sell, where will I go? No broad-based market analysis can answer the above questions if you're in one of those two positions. Give me two price points and I'll give … [Read more...] about Nest Report – Mid Year 2018 – Sales, Prices Up
tl;dr on the current state of the Charlottesville market Quite a few houses in select pockets of the market are moving quickly Example: Since 1 January 2018, in Charlottesville + Albemarle, 1,296 not-new-construction homes went under contract (no way of telling how many of those contracts fell apart; a couple of those would have been mine). 504 of those 1,296 had cumulative days on market of 7 days or under 303 of those 504 were within 3 miles of Nest Realty in downtown Charlottesville. 230 of those 1,296 were on the … [Read more...] about 2nd Quarter 2018 Charlottesville Area Market Report
More to come, but short takeaway is what I've been saying here, and to clients is this. Some pockets of the Charlottesville - Albemarle real estate market are smoking hot, others are not. Your market will vary. I'm going to update this post, but wanted to get this out. Download here Charlottesville Q1 2018 Market Report … [Read more...] about Nest Realty’s 1st Quarter 2018 Market Report
The Nest team puts out a lot of data. This month, I'm putting it all out there for your review. Dig in. Ask questions, and know that even with this data, your micro-market will require more analysis than is available here. 29 North February 2018 Barracks February 2018 City of Charlottesville February 2018 Rio February 2018 Southside February 2018 Crozet February 2018 Earlysville February 2018 Ivy February 2018 Keswick East February 2018 Fluvanna February 2018 Greene February 2018 Louisa February 2018 … [Read more...] about February 2018 Real Estate Market Stats for Charlottesville Region