This report will examine the sales of condos and townhomes in Albemarle County, Virginia during January 2009. Albemarle County surrounds the town of Charlottesville, Virginia.
In January 2009, 11 condos and townhomes in Albemarle County had contingent contracts. The average list price was $220,600 and the median was $219,900, with an average days on market of 175.
3 Albemarle townhomes and condos had contracts pending. The average list price was $255,702 and the median was $289,900.
16 Albemarle County condos and townhouses sold during January 2009. The average sale price was $251,457. The homes had been listed at an average price of $263,268 and the madian was $244,295. The homes were on the market for an average of 75 days and sold for an average of 95.51% of the list price.
As of today, February 5, 2009, there are 274 homes actively listed on the market in Albemarle County. The average list ptice is $255,525 and the median is $215,000. The homes have been on the market for an average of 178 days.
For comparison we will look at the sales of condos and townhomes during December.
In December 2008, 7 Albemarle condos and townhomes had contingent contracts. They average list price was $203,687 and the median was $244,006. The average DOM was 80 days.
3 condos and townhomes had pending contracts. The average list price was $291,798, with a median of $298,506 and an average DOM of 133.
In December 2008, 16 Albemarle condos and townhomes had contracts that closed. They sold for an average price of $244,819. The homes had been listed at an average price of $250,013, with a median of $246,500 and an average days on market of 74. The homes sold for an average of 97.92% of the list price.
We will also look at the sales from a year ago.
In January 2008, 11 condos and townhomes sold in Albemarle County. The average sale price was $203,290. The homes were listed at an average price of $201,941 and the median was $205,000, with an average DOM of 98 days. The homes sold for an average of 100.67% of the list price.
As you can see from these figures the sales of condos and townhomes in Albemarle County have been flat over the past year and remain that way. There is a lot of inventory available which will have to sell down before we will see a return to a balanced market. If you are thinking of buying a condo or townhome in Albemarle County this market presents the perfect opportunity. You have a lot of homes to choose from, we have historically low interest rates, and with the longer time on market that many sellers are facing they may be ready to negotiate with you. You may be able to buy the home you want at a great price with an excellent interest rate.
The above figures are from the mls and while they are 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 Charlottesvile and Albemarle County homes, events and real estate.
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