Greene County, Virginia - October Market Report

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

We are coming to the end of our examination of the Central Virginia real estate markets for the month of October 2008.  This report will focus on the sales of single family detached homes in Greene County, Virginia in October 2008.

In October 2008 13 Greene County homes had contacts pending.  The average list price was $242,315, and the median was $225,000.  They were on the market for an average of 139 days.

5 Greene County homes had contracts pending.  Their average list price was $275,940, with a median of $264,900 and they spent an average of 197 days on the market.

In October 2008 11 homes had contracts that closed.  The average sales price was $360,227, and they had been listed for an average price of $277,382.  The median was $258,000 and the homes were on the market for an average of 206 days.  The homes sold for an average of 93.82% of the list price.

As of November 1, 2008, 208 homes are actively listed for sale on the Greene County real estate market.  The average list price is $358,978 and the median is $289,900 with an average of 149 days on market so far.

Lets compare these figures with those from last month.
In September 2008 5 Greene County homes had contracts pending with an average list price of $267,730, a median of $339,900 and average days on market of 213.

5 homes had pending contracts in September 2008.  Their average list price was $303,720, a median of $349,900 and 221 average days on market. 

In September 2008, 15 homes sold in Greene County for an average sales price of $261,260  These homes had been listed for an average price of $273,119, and the median was $245,500.  They were on the market for an average of 89 days and sold for an average of $95.66% of the list price.

For further comparison we'll look at the figures from October of last year.
In October 2007, 14 Greene County homes sold for an average sales price of $305,536.  The homes had been listed at an average price of $309,768 and had a median of $282,000.  They were on the market for an average of 115 days and sold for an average of 98.63% of the list price.

Finally we will look at the figures of Greene County home sales for the year to date.  From January 1, 2008 - October 31, 2008 151 homes sold in Greene County.  In 2007 during the same time frame 177 homes had contracts that closed.  This marks a decline of 14.7% in Greene County home sales for this year up to this time.

As you can see from the above figures, homes are staying on the market longer and are are selling for a lower percentage of the asking price than they were a year ago.  If you do have to sell your home it is imperative that it is properly priced for the current market.  It also must be in the best possible condition.  And in addition, since 85% of buyers are starating their search for a home on line, you need to hire an agent with a strong internet prescence. 

If you are buying a home, todays market offers the opportunity of a lifetime.  The large invertory translates to many choices, interest rates remain low, and many sellers are ready to deal.  This is the perfect time to buy your dream home at a great price!

The above figures are from the mls and while they are considered accurate they 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.

For more information on Central Virginia and Charlottesville events and real estate visit my other blog  Charlottesville Horse Farms and Country Homes.

 

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