This Charlottesville VA real estate market report will look at the sales of single family detached homes within the city limits of Charlottesville during the month of September. We will see how the September sales compare with the previous two months and also what has happened in the year to date.
21 Charlottesville homes had contracts that closed in September 2009. They sold for an average price of $307,010 which was an average of 97.28% of the list price. The homes had been on the market for an average of 79 days before going under contract.
In August 2009, 25 Charlottesville VA homes sold for an average price of $340,642. They had been on the market for an average of 101 days and sold for an average of 97.61% of the list price.
July saw the greatest number of home sales with 51 Charlottesville homes selling. They sold for an average price of $296,652 which was an average of 95.14% of the list price. The average DOM was 81.
Today, 10/4/2009 there are 186 Charlottesville VA homes for sale. They are listed at an average price of $358,569 with a median of $299,900 and have been on the market for an average of 163 days so far.
To look at the bigger picture we will compare the year to date figures from this year and 2008. From 1/1/2008-10/2/1008, 301 homes sold on the Charlottesville VA real estate market, but during the same time frame this year only 231 Charlottesville homes have sold. This represents a decline in sales of -23.3%.
it is not unusual to see home sales drop off in August, but I would have hoped for a bigger boost to the Charlottesville real estate market from first time homebuyers purchasing homes before the $8,000 tax credit runs out. They will only have until October 15 to get a home under contract if they want to have a good chance to be able to close before the November 30 deadline. I am afraid that many of them do not realize that the home must be closed by November 30 and more importantly they do not understand how long it takes to get a home to close. In todays market it is taking about 45-60 days to get a home from contract to closing. We are seeing FHA and VA loans take longer than conventional loans. So if you are a first time homebuyer the clock is ticking!
The above figures are from the mls and while they are deemed correct, they are not guaranteed.
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.
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Copyright © 2009 by Pam Dent, all rights reserved, "Charlottesville VA Real Estate Market Report - September 2009".
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