This market report will look at the sales of detatched homes in Albemarle County, Virginia during January 2009. Albemarle County surrounds the city of Charlottesville, Virginia.
In January 2009, 30 Albemarle County homes had contingent contracts. The average list price was $500,047 and the median was $328,500. The homes were on the market for an average of 178 days.
8 homes had contracts pending. The average list price was $662,734 and the median was $432,400 with a DOM of 137 days.
17 Albemarle homes sold during January of 2009. The sale price was $497,253. The homes had been listed for an average of $515,480 with a median of $359,900. The homes were on the market for an average of 132 days and sold for an average of 96.46% of the list price.
There are currently 577 homes actively listed in Albemarle County. The average list price is $983,435 and the median is $499,000 with an average DOM of 188 days.
Lets see how this compares with the real estate activity in December.
In December 2008, 21 Albemarle County homes had contingent contracts. The average list price was $496,218 and the median was $339,000 with an average DOM of 107 days.
18 homes had contracts pending. They had been listed for an average list price of $418,545 with a median of $310,884. They were on the market for an average of 113 days.
In December 2008, 46 homes in Albemarle County had contracts that closed. They sold for an average price of $570,811. The homes had been listed for an average price of $604,461 and the median was $409,250. The homes were on the market for an average of 118 days and sold for an average of 94.43% of the list price.
Let's also look at the figures from a year ago.
In January 2008, 40 homes sold in Albemarle County. They average sale price was $502,241, with an average list price of $531,459 and a median of $387,000. The homes were on the market for an average of 137 days and sold for an average of 94.5% of the list price.
As you can see from these figures, the Albemarle County real estate market continues to be slow. There is a lot of inventory on the market that will have to sell down before we see a return to a stable market. The winter is traditionally a slow season and hopefully we will see a pick up in activity with the spring market. It is still very much a buyers market with a lot to choose from, opportunities to find good buys and very low interest rates.
Figures are from the mls and while deemed correct are not guaranteed.
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 other blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville homes, horse farms, events and real estate.
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