Wednesday, June 30, 2010

Single Family Home Sales Jan 1 - June 1: 2010 Sales Are Up Over 2009, But Down Over 2008 For Cville, Albemarle, Greene, Fluvanna, Louisa

The first five months of 2010 beat the "Great Recession," but not the trend in declining single family home sales in this area. 

Published RE data in the area is comparing 2010 to 2009, and there's a sense of relief for  YOY increases.  But this isn't a "turn" in the market: it's a bump up from the Great Recession.    2010's sales are largely the result of extraordinary federal government intervention--homebuyer tax credit and ultra-low interest rates.  

And still, the sales numbers don't beat the numbers from 2008, which was already in decline off 2006's peak.  Yet there's much more inventory.  And take a look at the City of Charlottesville, which is experiencing shockingly low sales.

The sales figures are for January 1 - June 1 for each year.

City of Charlottesville

The first five months of 2010 were the same as 2009, which means a decline of -48% over  2008.

Albemarle County

2008 - 279
2009 - 202
2009 declined -28% over 2008
2010 - 244
2010 increased 20.8% over 2009

2010 declined -13% over 2008

Greene  County 

2008 - 76
2009 - 51
2009 declined -33% over 2008
2010 - 62
2010 increased 18% over 2009 

2010 declined -18% from 2008

Fluvanna County

2008 - 134
2009 - 91
2009 declined -32.1% from 2008
2010 - 100
2010 increased 11% over  2009

2010 declined -25% over 2008

Louisa County

2008 - 82
2009 - 36
2009 decreased -55% from 2008
2010 - 69
2010 increase 92% 2009

2010 declined -15% from 2008

See numbers at this source.

See May Closed Sales 1999-2010

See Graphs and Charts of Cville Area RE Sales 2003 - 2009

1 comment:

Anonymous said...

So when mr. duncan was saying in that IGNORE post that sales were up, he just meant over 2009?

Real estate is only local when a sales figure is given out of context.