Supporting the old saying "There's nothing price won't fix," the greater Charlottesville Area (City plus 5 counties) is seeing a rise in closed sales as well as properties going under contract. The -7.5% year-over-year decline in average price represents all property types combined. The "American Dream" category of the single family (detached) homes in the Greater Charlottesville Area fell more: a -9.3% year-over-year decline. Average Q1 prices have now fallen -23.5% since 2005. Despite the loss of $$$ in home eq and for sellers, the current CAAR prez sees the sales portending "blue sky" ahead. Is it a Great Time To Buy? The full report is embedded below.
Average Prices. Click on image for larger version.
See also: Q1 Prices and Sales 2002-2011 and Ongoing Headwinds in C'ville Area RE
Charlottesville 1st Quarter Real Estate Market Report 2012
Image, report, copyright CAAR.
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