Friday, October 9, 2009

CAAR Third Quarter 2009 Real Estate Sales Report

Details on local real estate sales numbers for Q309.

Via RealCentralVA and the Charlottesville Area Association of Realtors.

Related Reading:
Third Quarter 2009 Graph: Dismal Sales
Graphs Dating Back to 2003

5 comments:

Debaser said...

Sales down 19.1% from last year, and "only down" 6.2% in Q3 = "sales are doing better compared to last year"?

I can understand the point that the YoY % decrease in sales in Q3 was smaller than in recent history but I think it is really stretching it when things getting worse at a slower rate is labeled as doing better.

"Son, how were your grades this semester?"
"Great, Mom! Last year I went from a B to a C- but this semester I only went down to a D+. Can I borrow the Pathfinder this weekend to go celebrate my better grades?...Mom?"

agreed said...

just a handful of properties actually sold in september. so is CAAR counting what went under contract as "sales"?

sellers trying to unload what was bought the past few years are skewing the market. b/c they're the ones who have to have the inflated asking prices. due to trying to cover their asses. i mean mortgage payments.

debaser is on targer: "less bad" is the new "good." it's not realistic.

Jim Duncan said...

agreed -

Not speaking for anyone other than myself -

"Less bad" is just that - not as bad as before.

It's similar to what I tell my seller clients when they receive an offer ... it may be low, but it's better than the one they had yesterday.

Sold properties -

I believe that solds are just that - properties that closed (per the Charlottesville MLS) and pendings are marked as such.

I wrote market report the other day:

http://www.realcentralva.com/2009/10/11/charlottesville-real-estate-market-report-third-quarter-2009/

Nest's Market Report:

http://www.realcentralva.com/2009/10/12/3rd-quarter-nest-realty-group-nest-report/

Dave Phillips said...

Debaser,
I think your grade example is good, but slightly off. Try this:

"Mom, my grades are getting better. Last year I got a 2.8 cumulative average, but at the end of the 1st semester, I was down to a 1.5. I did better in the second semester and I'm up to a 2.2 for the year. Can I barrow the Lexis?"

The link in the article is bad for the CAAR market report. Try this one:
http://www.caar.com/press/market

Buyer 2010...Or Later said...

"Seasonal uptick" accounts for something here...but not much. Sales are still dropping.

I'm going w/Debaser on this one.