Greene County Market Report - November 2008

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

We are continuing to look at the state of the Central Virginia real estate market.  In this post we will examine the sales of single family detached homes in Greene County, Virginia for the month of November 2008.sold sign

In November 2008, 9 Greene County homes had contingent contracts.  The average list price was $330,250 and the median was $346,000.  The homes were on the market for an average of 239 days.

1 Greene County home had a contract pending.  The list price was $214,900 and the home was on the market for 143 days.

10 Greene County homes had contracts that closed in November 2008.  The average sale price was $331,191, with an average list price of $339,637 and a median of $329,500.  They were on the market for an average of 43 days and sold for an average of 97.51% of the list price.

As of December 1, 2008 there are 185 homes actively listed on the Greene County real estate market.  The average list price is $376,549, with a median of $315,000 and a DOM of 163 days.

For comparison lets look at the figures of home sales from October 2008.

13 Greene County homes had contracts pending in October 2008.  The average list price was $267,093 and the median was $265,000.  The homes were on the market for an average of 83 days.

2 homes had contracts pending.  The average list price was $304,945 and they were on the market for an average of 13 days.

In October 2008 15 Greene County homes sold.  The average sale price was $290,599, with an average list price of $306,401 and a median of $249,900.  The homes were on the market for an average of 68 days and sold for an average of 94.84% of the list price.

Lets also look at the figures from last year.

In November 2007, 23 homes sold in Greene County.  The average sale price was $347,506, with an average list price of $347,060 and a median of $277,000.  The average days on market was 105 and the homes sold for an average of 100.13% of the list price.

The final figures that we will look at are the year to date sales.
In 2007, 544 homes sold in Greene County from January 1 - December 1.  During the same period in 2008, 290 Greene County homes sold.  This represents a decline in sales of -46.7%.

As you can see from these figures, home sales in Greene County have declined considerably this year.  If you do have to sell your home at this time, it is important to ensure that your home is the one that buyers will want over all ofthe other homes on the market in the same price range.  This means making sure that your home is competitively priced and in the best condition possible.  Also, since over 85% of homebuyers begin their search online, make sure to hire a real setate agent who has a strong internet presence.

If you are considering the purchase of a home in Greene County, it couldn't be a better time.  You have a wide selection of homes to choose from, prices are down and interest rates are down as well. 
As a result of the longer time on market many sellers are ready to negotiate.  In the current market you have the opportunity to purchase a great home at a great price.

The above figures are from the local mls and while they are deemed correct, they are not guaranteed.

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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 Central Virginia homes, farms, events and real estate.

 

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Rainer
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Bethany Phillips, MBA
Fredericksburg, VA

Nice job.

Dec 03, 2008 02:25 PM #1
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