Ivy and Crozet Home Sales Up 25.8% Year-Over-Year

If you’re a loyal reader of the Nest Report, this post may sound a little familiar to you.  To give a little background, we’ve been scouring through Charlottesville real estate market data from the first 7 months of 2010…and comparing sales statistics to years past.

This time, we’re taking a look at detached home sales in Western Albemarle.  As with our other recent data, year-over-year Western Albemarle home sales are up significantly.  Here’s the breadkdown:

August 2008 – July 2009

Home Sales: 190

Median Sold Price: $477,500

Months of Inventory: 14.96

August 2009 – July 2010

Home Sales: 239 (up 25.8%)

Median Sold Price: $477,500 (down 16.2%)

Months of Inventory: 10.89 (down 27.2%)

The combination of the tax credit and lower prices helped spurr home sales throughout Charlottesvilleand Albemarle during the first half of 2010. However, as we’ve noted before in our reports, July 2010 sales dropped significantly in Western Albemarle (from 32 in 2009 to just 17 this past July).

So, it seems like no matter where we look, the story stays the same.  On the bright side, sales are up significantly over the most recent 12 month period.  But sales in July are down significantly year-over-year.  We’ll see how August and September play out.  We expect sales to be off from last year.  But we’ll have to wait and see the final numbers.

(Note: Western Albemarle is made up of Crozet and Ivy)

To see current listing inventory:

Crozet homes for sale

Ivy homes for sale