Although there's been some chat about contracts rising, hard data shows that
January 2012 completed sales stank. Now the February Nest Realty Group report shows that for the Greater Charlottesville Area in
February,
completed sales rose because prices have declined; for the single family home, it's
-32%, and for condos/townhouses, it's -14% since 2010. That year, of course, was the height of the Homebuyer Tax Credit; this "gift" from the Federal Government propped up prices before it the scheme, and then led to a
local sales collapse for the second part of 2010 and
significant sales and price weakness in 2011.
Details of February's pricing are in the graphic, below. The entire Nest Report, which details
individual counties as well as
property types, is embedded below.
Click for larger image in new window.
RELATED:
Charlottesville Home Prices Drop At Faster Rate Than National Average
Nest Report Charlottesville: February 2012
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