Not much change since last week. As of today July 17th there are 1,143 homes for sale in Albemarle County. Since July 1st there have been 36 go under contract or about 2 per day. So that means that there is about a year and a half of inventory. I think that's a buyers' market.
However, all real estate is local. Certain areas like the Forest Lakes neighborhood are fairing quite well. Right now there are 21 homes for sale in Forest Lakes, that's out of 1,400 homes in the neighborhood, and 8 have gone under contract in the past month. So that means there is a 3 month inventory. So does that mean that all the current listings in Forest Lakes will be sold in three months? No it doesn't. Condition and pricing still trump inventory.
So if you're looking for a great place to live that's beautiful, clean, safe and convenient to everything, please give Forest Lakes a look. It's not only a great place to live and raise a family it's a great investment.
Blooming for home buyers this summer.
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