Wednesday, June 30, 2010

Month of May - Closed Sales for Single Family Homes in C'ville and Albemarle: 2010 Sales Are 21% Lower Than 1999

May 2010 beat May 2009, the Great Recession (not hard to do, right?) but closed sales for detached single family homes are less than every other year going back to 1999.

Green line = Detached, Single Family Homes
Blue line = Attached "Townhomes"

Click for larger image in new window.
  • The "attached" category has more number variations.  Townhomes are now more "affordable" than single family homes and many more townhouses are available than pre-2006.  (Think "Pavillions at Pantops," etc.)
  • May closings would have had contracts signed in March and April.
  • Contracts in May collapsed after an April surge to qualify for the 4/30 Tax Cred deadline.
  • June will have a bump up, due to Tax Cred closing deadline of June 30.
  • May 2010 is a one-month snapshot, not an indication of a rise in sales going forward.
  • June may have more closed sales than in 2009 due to closings rushing to beat today's Tax Credit deadline, but based on contracts, it will look like May when compared to historic data.
The image is via/copyright RealCentralVA.
Putting it into historic context  is via C'ville Bubble.

Charts and Graphs 2003 - 2009

No comments: