Monday, October 5, 2009

Charlottesville Area Real Estate Update,Third Quarter 2009: Dismal Sales. The Good News For Buyers? Prices Keep Falling.

 Area sales are at the decade low.

Even with the up-to-$8k tax credit and the annual seasonal uptick in sales plus the majority of transactions occuring at the "low" "First Time Homebuyer" price point of under $300K, as well as the historically low interest rates, sales are sputtering.  And according to minds bigger than this blog's, apparently this is not the area's bottom.

The graph includes all Central Virginia sales 2003-2009.  The blue line on the bottom is 2009.  

More details will f0llow for specific areas and types of sales.  Click on graph for larger image.


Anonymous said...

Where the data from? Thx.

Anonymous said...

Can we get a line for 2002?

Real C'ville - The Bubble Blog said...

This blog doesn't have data for 2002 or earlier. You may verify the data on the graph with any local Realtor (TM), and also ask for earlier data. A local Realtor (TM) should be happy to oblige you of this information at no charge.

Anonymous said...

Sorry to be a nit, but where are you and the Realtors getting the data? MLS? Not publicly available, correct? Thx.

Real C'ville - The Bubble Blog said...

Anonymous, this graph tracks sales from properties that were in the Multiple Listing Service, the MLS. You can find Quarterly and Annual reports on the Cville Area Association of Realtors website CAARdotCOM, going back for years. You can also find a lot of sales data posts at RealCentralVAdotCom.

The City of Cville doesn't have a way to track sales. Albemarle County sales may be tracked by subdivision/neighborhood/time frame at giswebDOTalbemarleDOTorg
Surrounding counties vary in their sales data availability. For instance, Nelson County is not yet online with this info.