Monday, March 19, 2012

February 2012: Charlottesville Area Median Price For Single Family Homes Drops -32% Since 2010

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.

Charlottesville Home Prices Drop At Faster Rate Than National Average
Nest Report Charlottesville: February 2012

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