2010 First Quarter Market Report Summary for Charlottesville, Albemarle and Central Virginia

2010 First Quarter Market Report Summary for Charlottesville, Albemarle and Central Virginia

In the first quarter of 2010, the Charlottesville real estate market continued the trend seen in the fourth quarter of last year. Home sales, compared to the first quarter of 2009, increased slightly. First quarter 2010 total MLS sales of (436) were up 4.3% over the same period in 2009 (418).

This was the second consecutive quarterly year-over-year increase and the second lowest quarterly total in the past 10 years.

Prices have been falling as in each of the previous three quarters, as well as a small drop in the first quarter of 2010.

There were 436 homes sold in the Charlottesville area in the first quarter 2010, which was up 4.3% (+18 sales) from the same quarter in 2009.

The inventory of homes for sale in the Charlottesville area has continued to decline. The excess of inventory is causing many of the problems with our local housing market.

The sale of attached homes (Condos and Townhomes )  in Charlottesville show only 15 attached home sales compared to last year's 28. The median price was down from $273,344 to $169,000 and days on market were 112.  

If you would like a copy of the entire report:  Contact Cliff Kavanaugh

Best wishes, Clifford Kavanaugh, Associate Broker
Founder of Keller Williams Realty of Charlottesville
Keller Williams International Achievement Medalist
Certified Short Sale Consultant

View Charlottesville Area Homes for Sale at: www.CvilleHomeSearch.com

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