Posts tagged Charlottesville real estate market update for January

Charlottesville real estate market update for January

Surprise.There is significant, almost palpable fear in the market right now – from Realtors to home inspectors to builders and subcontractors to buyers and sellers (and not all will survive)….  Fear is not a fundamental.In a nutshell -If you are considering buying in the Charlottesville area and living in the house for four to five years (and perhaps a shorter timeframe, depending on various factors) – interest rates are historically low and sellers are negotiating more than they ever have before….  What the house across the street sold for is likely as irrelevant to determining market value as your new assessment.For both buyers and sellers – look beyond the headlines….  (for some, not all)”Residential homes that went under contract in January in the Charlottesville region*:2008 – 1522007 – 2302006 – 2372005 – 2182004 – 2692003 – 262Under Contract and Sold in Charlottesville/Albemarle:2008 – 105/662007 – 158/1022006 – 160/1262005 – 146/1282004 – 168/97Or, by a graphical measure to show the amount of inventory:*Albemarle, Charlottesville, Fluvanna, Greene, Nelson – including single family, attached homes and condos.

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