Tuesday, January 18, 2011

Graph: 2010 Albemarle County Single Family Home Sales 30% Lower Than 2001 Sales

2010 single family ("detached") home sales rose approximately 8% over 2008 and 2009, fueled by the Federal Homebuyer Tax Credit, which expired April 30, 2010.  The tax credit was in place both years, and offered up to $8k for First Time and, in 2009, "Move Up" home-buyers.

66% of all 2010 sales were in the "First Time" price category of under $300k. Consequently, in the second half of the year, home sales in this area and category plummeted.   This is the environment for the "Spring Selling Season." 

Buyers expect more price declines, and sellers are cautioned against being greedy.

Albemarle County Single Family Home Sales
  • 2010 sales are approximately -44% lower than during the peak sales years in this category of 2004 and 2005.
  • 2010 sales are approximately -30% lower than a decade ago, 2001.
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See also: Charlottesville single family home sales have plunged, now at a decade low.

1 comment:

Montpellier said...

Ouch! That's gonna leave a mark!

What is going on with the REALTOR head-count these days?