Anecdotal evidence on the local market
The news was flooded last week with reports on the housing market's decline. This article in the Washington Times is but one example: The downturn in the housing market is deepening, with new home sales at a nine-year low, prices down for the fourth month…
Advertising is moving to the web. (and this is news?)
It's no wonder that internet startups are poised to blow the doors off traditional real estate business models. This story is a perfect example.Gaining big business' approval to make a shift like this must be quite an ordeal. More nimble competitors have already seen that…
CharlAlbemarle market update
The market always slows in December-January-February. These numbers are ... interesting. Using the MLS as my source, with my standard caveat that the MLS is not all-encompassing ... Inventory for Charlottesville/Albemarle: Active in January 2005 - 229 Active in January 2006 - 296 % increase…
Charlottesville’s 2005 market statistics
The article is here. Read the whole thing with the caveat that the MLS no longer comprises all transactions, but certainly enough to come to accurate conclusions. A few highlights: The median sales price for the entire market area in 2005 was $255,000 which is…
Virginia home sales slow
But the Charlottesville market area remains strong. PDF link here. Virginia's median existing-home price for November was $197,213, up 20 percent from a year ago when the median was $163,750. The median is a typical market price where half of the homes sold for more…
Market Trends
From the most recent CAAR news monthly - Statistics show that the average consumer follows a well-defined housing cycle. In his book The Roaring 2000's, Harry S. Dent, Jr. uses statistical averages to define the housing cycle as follows: By Age 25 – Become apartment…
2004-2005 Stats
For those of you who like data, check out the PDF file in the extended area below. (more…)
Market Stats
Our MLS just released a more robust statistical engine. Here is my first quick attempt - The Median Price is pretty interesting. (more…)