July Market Report for Albemarle County

The following is the July 2008 market report for the Albemarle County, Virginia real estate market.  This report includes detached homes, farms, condos and townhomes.  Albemarle County surrounds Charlottesville, Virginia in the foothills of the Blue Ridge Mountains.

In July 88 homes were under contingent contract in Albemarle County.  Of these homes the average list price was $375,787 and the median was $324,950.  They were on the market an average of 113 days.

In the same period 32 homes were pending at an average list price of $357,948.  The median price was $330,000 and they have been on the market an average of 111 days.

124 homes sold in July of 2008 in Albemarle County.  They were listed at an average price of $566,500 and sold for an average of $546,130.  The average median was $326,432 and they were on the market for an average of 112 days.  The homes sold for an average of 96.40% of list price.

There are currently 1053 homes actively listed in the Albemarle County real estate market.  The average list price is $796,442 and the median is $379,00 with an average of 163 days on the market.

To compare, in June of 2008 136 homes sold in Albemarle County.  These homes had an average list price of $490,315, an average sold price of $446,613, and a median of $303,500.  They were on the market 97 days on average and sold for an average of 91.09% of the list price.

As you can see we still have a large inventory of homes on the market.  Until the inventory is sold down farther we will remain in a buyers market.  The large choice of homes and low interest rates combine to make it the perfect time to buy a home.

Information obtained from the CAAR MLS and deemed accurate but not guaranteed.

To search all of the homes actively on the market in Albemarle County click here

Pam Dent, e-PRO, SRES, NHD
Real Estate III
Charlottesville, Virginia
434 960-0161
www.CharlottesvilleHorseFarmsandCountryHomes.com
www.JumpintoGreenerPastures.com