by Jeff Gaffney
Inventory of homes for sale in Charlottesville and Albemarle decreased slightly in February ‘09 versus a year ago. In February ‘08, there were 1220 homes for sale, compared to 1201 homes for sale in February ‘09.
The bright spot in the market, with respect to inventory, was in the lower price ranges. There was a 7.3 month supply of inventory in the $175,000-$200,000 price range, a 7.4 month supply in the $200,000 - $250,000 price range, and a 6.4 month supply in the $250,000 - $300,000 price range. These are early indicators of a balanced market.
Overall, the market stands at an 11 month supply of housing inventory, well below the 15 month supply from January ‘09. This could be another positive sign that the market may be turning.
Jeff Gaffney CRB, CRS, GRI,
ABR, ABRM, SRES, QSC, e-PRO
Chairman & CEO
Real Estate III
jeffgaffney@realestateiii.com
tel: (434) 981-1882
Licensed to sell real estate in Virginia
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