This post will prestent an overview of last month's real estate activity in Lake Monticello.  The beginning of the month is the perfect time to consider what is happening in the Lake Monticello real estate market.

In September 2008, 13 Lake Monticello homes had contingent contracts.  The average list price was $261,638 and the median was $249,000.  The homes were on the market for an average of 108 days.

2 homes had pending contracts with an average list price of $222,400.  They were on the market for an average of 183 days.

In September of 2008, 13 Lake Monticello homes sold.  The average sales price was $235,338 and they had been listed for an average price of $243,452.  The median was $206,000 and they were on the market for an average of 102 days.  The homes sold for an average of 96.67% of the list price.

For comparison lets look at the home sales from August.  In August 2008 18 homes sold in Lake Monticello.  The average sales price was $239,722, with an average list price of $252,400 and a median of $223,750.  The homes sold for an average of 94.98% of the list price and were on the market for an average of 104 days.

There are currently 170 homes actively listed on the Lake Monticello real estate market.  The average list price is $268,690 and the median is $239,900.  They have been on the market for an average of 135 days.

Lets also look at the figures from last year.  In September 2007, 14 Lake Monticello homes sold for an average sales price of $235,854.  The average list price was $242,021 and the median was $219,828.  The homes had been on the market for an average of 80 days and sold for an average of 97.45% of the list price.

Figures are from the mls and while deemed accurate are not guaranteed.

What can we deduce from these figures?  Number one, just as in the rest of the Central Virginia area, there is a lot of inventory on the market.    This translates into a wide range of choices for buyers.  If you are a seller it is important to make sure that your home is in perfect condition to ensure that your home will "out shine" all of the other homes in the same price range.   Buyers are looking for a deal in this market and the homes that are selling are priced agressively.  Also on average homes are staying on the market longer than they were at this time a year ago.  Many properties that have been on the market for a long time may have had significant price reductions.  There are opportunities right now to find the perfect home at a great price.
If you are selling a home it is crucial in this market to make sure that your home is priced properly.  I would be happy to do a cma on your home and discuss with you what your home could bring in today's market.  Also since 85% of all buyers are starting their home search on line it is important to choose an agent who has a strong internet presence.

Contact Pam Dent, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at    434 960-0161   , pam@JumpintoGreenerPastures.com, to list your property for sale or 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, Troy, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville.

To view all of the Charlottesville, Virginia and Central Virginia Homes for Sale click here and click on the mls search button.

Visit my website Jump into Greener Pastures or read my blogs Charlottesville Real Estate Talk and Charlottesville Horse Farms and Country Homes.