While I had planned to release the market report for the Charlottesville market today, I have noticed that even properties that closed ten days ago have not yet been closed in the MLS. In an attempt to provide the most accurate data, I’m going to wait until Sunday afternoon to write the report. (and I still need to find the best report to present the median price) Thanks for your patience.
Without a way to determine whether these were changes upwards or down, this is honestly a bit of a shot in the dark; my very educated guess is that these price changes in 2007 were more down than up.Witness this new construction property in Crozet that came on the market last June – it started at one million three hundred forty nine thousand and was just reduced to $899,000!—NB: Contrast what follows with what was released in yesterday’s End of 2006 market report:One factor that affects the DOM statistic is inventory…. Including only our MSA (Albemarle, Charlottesville, Greene, Fluvanna and Nelson), there are as of 10 January 2006, 1672 properties actively on the market…. For example, there are 184 properties on the market in Madison and Orange Counties – at least 35-45 minutes north and north east of Charlottesville. There are 14 on the market in Rockbridge County (home of my alma mater) – at least an hour and fifteen minutes away (realistically 90 minutes).Less inventory is a good thing, at least in this transitional market.* Albemarle, Charlottesville, Greene, Fluvanna, Nelson* This post was inspired by Rob’s continuous tracking of his market.
And inventory is up. Rates are low. Home price appreciation is slowing. Inventory is up. Significantly. note: as soon as I figure out how to upload an image via coding, rather than depending on my…
As our region continues to grow, each area has its own perspective on how to handle growth – Orange County – Resident, after resident, after resident lined up to speak in strong disapproval to the proposed Annandale development.Â The 244 acre site would sit just outside of Gordonsville and house nearly 500 single family homes for people ages 55 and up.Â Some residents felt this many homes could destroy the small town feel.Nelson County – In addressing Nellysford, Rue said there could be three routes taken to complete the plan.Â They include long-term transportation and business growth, a focus of safety issues on Virginia 151 or a plan that looks at safety as well as business growth.Louisa County: questions are raised regarding the mixed-use implementation as they revise their Comprehensive Plan – The suggested changes would define â€œvery low density residential developmentâ€ as one dwelling unit per acre and â€œlow density residential developmentâ€ as up to two dwelling units per acre.Â High density residential development would be defined as more than six units per acre….Â (and one person remarked) â€œIf [one house per acre] is very low density,â€ she said, â€œI donâ€™t know what life is going to be like around here.â€What if a rural county wants to maintain its rural character?Â And one of my favorites comes from Trish, who laments the changing landscape of the CharlAlbemarle area – Why do we have to completely strip the land to build anything?…Â The land-use decisions in Louisa will impact the real estate market in CharlAlbemarle – if more people are able to comfortably buy, live and work in Louisa, perhaps fewer people will move to CharlAlbemarle.
The Weldon Cooper Center has released a study showing population increases throughout the Commonwealth.Â The Thomas Jefferson Planning District (our region) has seen a fairly significant increase in its population – 7.5%.Albemarle has seen a provisional change of 7.4%.Charlottesville – .5%Greene – 11.2%Fluvanna – 24.4%Louisa – 12.1%Nelson – 4.2%The above numbers are the total percentages, combining the natural increases and the change due to migration.
I have just listed a couple of homes that are not yet in the MLS.Â We have decided not to put them in the MLS for a variety of reasons, and each property and clients’ reasons are different.If you have the time and are interested, please check out:Home on almost 2 acres 15 minutes from Downtown.Unique home that flows very well in Wintergreen.Â (this one will be in the MLS today or tomorrow)Great home on 4 beautiful acres in Afton.Don’t forget about:This gorgeous home in Crozet.Nice private home in NE Albemarle.