Tuesday, February 21, 2012

January 2012 Home Sales: Charlottesville Down -39%, Albemarle Down -15%

Nest Realty Group has released its January Home Sales Report, which is embedded below.  Sales of all types compared to 2011:

Charlottesville down -39% 
Albemarle down -15%
Louisa down -50% (earthquake)
Greene up +112% (due to NGIC/DIA)
Fluvanna up +58% (price collapses have lead to higher sales)
Nelson up +12%

Mortgage rates have been at or below 4% for the past 3 months.

C'ville inventory has increased +44% and Albemarle inventory has increased +22%.  But Nest Realty views lower inventory of the MSA as a positive.  Disagree:  the new normal (and it's nationwide) is due  to this area's prospective sellers understanding they can't unload their current home for what is needed to "move up."  And this area's persistently high--for us--unemployment.

On the upside, Nest notes as a positive the rise in contracts written during January.

Related:   C'ville Area Home Sales in 2011.  C'ville Area Home Sales in 2010.  The "new normal" is lower sales.  Where's the Bottom?

Nest Report Charlottesville: January 2012

4 comments:

Anonymous said...

Greene had a high percentage change, but it was from a very low number. 8 sales in Jan 2011 and 17 sales in Jan 2012.

Anonymous said...

Meanwhile, some are still pricing at Bubble prices.
$150k over assessment, anyone?
http://www.mycaar.com/(0xpk3t3onqvsie55xj4lyc45)/Version15Results.aspx?ID=C5570AEB2C033B98EF2A87FE6DF64EEB&TP=DV&ShowNav=True

Anonymous said...

whats funny about that one is Cville's own stock photo is better than the listing cover photo. some realtors dont even try.

http://realestate.charlottesville.org/CAMA/IMAGES/VIDEO/P0000046/P0023402.JPG

Anonymous said...

I have been in that house (1466 Oxford). Badly in need of updating throughout. Literally 150k to 200k overpriced. Bizarre.