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Charlottesville VA Real Estate Market Report Condominiums - July 2009

By
Real Estate Agent with Gayle Harvey Real Estate, Inc.

This Charlottesville VA real estate market report will focus on the sales of condominiums in Charlottesville and Albemarle County during July 2009.

22 Charlottesville condos sold during July 2009.  The average sale price was $202,808, with an average list price of $212,808.  They were on the market for an average of 65 days and sold for an average of 95.33% of the list price.

In June 2009, we saw 25 Charlottesville Virginia condominiums with contracts that closed.  The average sale price was $175,004, with an average list price of $187,822 and an average DOM of 133 days.  The condos sold for an average of 93.18% of the list price.

18 Charlottesville VA condos sold in May 2009 for an average price of $148,178.  They were listed for an average price of $164,867, were on the market for an average of 75 days, and sold for an average of 89.88% of the list price.

graph of Charlottesville VA condominiium sales

graph of Charlottesville condo sales by median price

From 1/1/2008 - 8/1/2008, 148 Charlottesville Virginia condos sold.  However during the same time period this year only 81 condos sold in Charlottesville.  This represents a decline in sales of -45.3%.

graph of Charlottesville VA condo sales year to date

Today, 8/9/2009, there are 209 Charlottesville VA condominiums for sale for an average sale price of $242,826, a median of $187,500 and an average of 193 days on the market so far.

As you can see the sales on the Charlottesville VA real estate market for condos are way down.  Tow factors that play into this decline are the large number of condo foreclosures, particularly of investor units, that have come on the market and the unavailability of financing for unwarrantable condo projects. 

The above figures are from the mls, and while they are deemed correct are not guaranteed. 

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Contact Pam Dent, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at 434 960-0161 to buy a property in the following areas in Central Virginia: Charlottesville, Albemarle County, Keswick, Glenmore, Ivy, Crozet, Earlysville, Free Union, Cismont, Scottsville, Fluvanna County, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville.  Email Pam Dent.

  View all of the Charlottesville Virginia homes for sale.

 View my website Charlottesville Horse Farms or visit my other blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville Virginia horse farms, homes, events and real estate. 

 Copyright © 2009 by Pam Dent, all rights reserved, "Charlottesville VA Real Estate Market Report Condominiums - July 2009".

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Comments (1)

Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Good info! Congrats on the featured post.

Aug 11, 2009 11:49 PM