Nest Realty has all the poor performance details for the Charlottesville Metropolitan Statistical Area, which includes City of C'ville, and the counties of Albemarle, Fluvanna, Louisa, Greene, and Nelson. 2010 is shaping up to be worse than the Great Recession year of 2009.
*Total Sales MSA 2010: 137
*Total Sales MSA 2009: 197
*Charlottesville Total Sales Oct 2010 - 9 Single Family, 1 Townhouse, 1 condo
*Charlottesville Total Sales Oct 2009 - 34
* = a drop of over 67%
*Albemarle County Total Sales Oct 2010 -54
*Charlottesville Total Sales Oct 2009 - 69
*Inventory levels in City of Charlottesville = 32 months
*Inventory levels Albemarle County = 22 months
*Inventory in MSA: 20.8 months
*This is the highest inventory for an October since 1990
*October 2010 represents the highest inventory since February 2010
Local RE sales
Read the narrative at Nest Realty: Shield Your Eyes
- The Short Answer to This Question is "No." The Longer Answer is "Not in the Charlottesville MSA, nor in the rest of the United States."
-"The New Normal" - A Multi-Part Series Examining Local and Nat'l RE Issues
- The Third Quarter Market Report
- The Second Quarter Market Report
- The First Quarter Market Report
Here's what the National Double Dip in Housing looks like, via Zillow:
The following charts are via/copyright Nest Realty Group. Click for larger image. Go to NRG for even larger version.
City of Charlottesville Home Sales
Albemarle County Home Sales
Charlottesville MSA Home Sales
"For Sale Sign" image copyright CNN Money.