And today, Tuesday, there’s this : ‘Yale economist Robert Shiller, who developed one of the widely followed gauges of home prices, said in a speech Tuesday that home prices, which have already fallen about 15 percent from their peak in 2006, may fall further than the 30 percent drop experienced during the Great Depression of the 1930s, so far the biggest decline in home prices in the country. “Basically we are in uncharted territory,†Shiller said, noting that the 85 percent rise in home prices from 1997 to 2006 after adjusting for inflation had represented the biggest housing boom in U.S. history, so the fall in prices could be just as historic.’
Browsing Category Market statistics
“Official” Real estate Market report for Charlottesville area
This is my market report for the City of Waynesboro and Augusta County and this is the market report I wrote last Monday focused on the Central Virginia real estate market ; my market report is more focused on the Charlottesville market area – Charlottesville/Albemarle, Fluvanna, Greene and Nelson Counties – while the CAAR report encompasses the entire super-region. … For a graphical representation, check this out – for the first quarter 2008, sales of condos are down – way down – relative to the past few years. 
I’ll update this post on Monday when the Daily Progress releases their interpretation/report.
Real estate Market report for Waynesboro and Augusta
Keep in mind that these commuting numbers are from 2000 ; I predict that 2010 will show these numbers to have at least tripled: In 1970, 799 people were commuting from Waynesboro/Augusta/Staunton to Charlottesville/Albemarle. … However, their market now has about seventeen months of inventory ( PDF here ) versus about five months of inventory at this time in 2007 and almost four months of inventory in 2006.
Charlottesville area real estate market update – 1st Quarter 2008
Summary – We are going to continue to see a market adjustment (read: many Sellers still have yet to recognize that in many cases, we are back to 2006 price levels), but those who want to sell must realize the new market realities.
Now really and truly is a great time to buy a house – if you are buying for the right reasons (ask me for specific insight for your situation) and you intend to actually live there for a couple of years. I have heard anecdotal evidence that long-term investors are starting to snap up inventory. Multiple offers, while certainly not common, are in fact happening all over Charlottesville and Albemarle.
A GREAT MLS stat for today
In the Charlottesville region*, there are 484 properties that are currently under contract or pending. Of these, 184 were on the market for fewer than 30 days (per the “continuous days on the market” tag of our MLS which is supposed to account for crafty Realtors trying to game the MLS). Nearly 40% of new sellers “get it.”
Grasping at any good news I can find
More houses sold in February 2008 than in January 2008!And in our market area* -From 1 February 2007 to 1 March 2007:190 properties sold andFrom 1 February 2008 to 1 March 2008:138 properties soldMore telling:271 properties went under contract in this timeframe in 2007 while 198 went under contract in 2008.More reading at Calculated Risk.*Charlottesville, Albemarle, Greene, Fluvanna, Nelson**Full first-quarter 2008 market update (to include Waynesboro and Augusta) coming in the first week of April, to coincide with my appearance on WINA’s Charlottesville-Right Now! with Coy Barefoot on 7 April at 5pm.Subscribe to just the Market Statistics category feed.
Media appearance – WINA this afternoon and a brief Charlottesville market update
After suffering being bumped last week, today I’ll be on from four thirty to five. To get ready, I ran a few statistics to get a fresh handle on the market:Things are selling…. Properties are selling in the Charlottesville market – but …… I’ll be posting a full market report in the next few days, to include the Waynesboro/Augusta market as well.