The Charlottesville and Albemarle County numbers are in for the month of May and here is the update for the month. Sales for the month of May 08 vs May 07 show an overall decline for the month of 11%. Some price ranges did well compared to last year (see below).
Secondly, and more importantly, inventory is only up 6.5% compared to last year at this same time. That too is incredible and has enormous implications to sellers in our area. Some say that our inventory is way out of balance and that they should basically "give it away". These numbers suggest otherwise.
The following price ranges outsold for the month of May 08 vs 07:
1. $175 - 200,000
2. $200 - 250,000
3. $500- 600,000
4. $700-$800,000
5. $900- 1,000,000
6. $1.5 - 2,000,000
7. Over $3,000,000
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