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Albemarle County Real Estate Market Report - March 2009

By
Real Estate Agent with Gayle Harvey Real Estate, Inc.

This Albemarle County Real Estate Market Report for March 2009 examines the sales of detatched single family homes in Albemarle County Virginia.  Albemarle is the county surrounding the city of Charlottesville and is located in Central Virginia nestled in the foothills of the Blue Ridge Mountains.

In March 2009 there was a slight increase in Albemarle County home sales over the past two months.  32 Albemarle County homes sold for an average sale price of $595,764.  The homes had been listed for an average of $617,783 and were on the market for an average of 157 days.  These Albemarle homes sold for an average of 96.44% of the list price.

Lets compare this with the sales in the Albemarle County real estate market during February 2009.  28 Albemarle County homes sold for an average sale price of $495,470.  They had been listed at an average list price of $539,092 and were on the market for an average of 140 days.  These homes sold for an average of 91.91% of the list price.

graph of Albemarle County home sales

 

 

 

 

 

 

 

 

graph of Albemarle County median home pricesCurrently there are 653 Albemarle County homes for sale.  The average list price is $953,516 and the median is $459,950.  These homes have been on the market for an average of 158 days so far.

This year to date 82 Albemarle County homes have sold.  During the same period in 2008 (1/1/2008-4/1/2008) 126 homes sold in the Albemarle County real estate market.  This translates to a decline in Albemarle County home sales of -34.9%.

graph of year to date home sales in Albemarle County

The above graph compares the sales of Albemarle homes during the beginning of the year in 2008 and 2009 by price point.

The above figures are courtesy of the CAAR mls and while they are deemed correct are not guaranteed.

 

Charlottesville Virginia Real Estate Market Report - March 2009

Charlottesville Virginia Real Estate Market Report Condominiums - March 2009

Fluvanna county Real Estate Market Report - March 2009

Louisa County Real Estate Market Report - March 2009

Central Virginia Real Estate Market Reports - February 2009

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Contact Pam Dent, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at 434 960-0161 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.

 

View all of the Charlottesville Virginia homes for sale.

 

View my website Charlottesville Horse Farms or visit my other blog  Charlottesville Horse Farms and Country Homes for more information on Charlottesville Virginia horse farms, homes, events and real estate. 

 

Copyright © 2009 by Pam Dent, all rights reserved, "Albemarle County Real Estate Market Report - March 2009".

First published on Charlottesville Real Estate Talk.

 

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Comments (2)

Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Pam,  As I read your last chart it appears the decline in unit sales has slowed - good news!!! 

Apr 02, 2009 01:58 AM
Pam Dent
Gayle Harvey Real Estate, Inc. - Charlottesville, VA
REALTOR® - Charlottesville Virginia Homes / Horse

Karen - January and February were so bad that anything is an improvement.

Apr 13, 2009 02:44 PM