Charlottesville VA Real Estate Market - Wazup?

 

Not much change since last week. As of today July 17th there are 1,143 homes for sale in Albemarle County. Since July 1st there have been 36 go under contract or about 2 per day. So that means that there is about a year and a half of inventory. I think that's a buyers' market.

However, all real estate is local. Certain areas like the Forest Lakes neighborhood are fairing quite well. Right now there are 21 homes for sale in Forest Lakes, that's out of 1,400 homes in the neighborhood, and 8 have gone under contract in the past month. So that means there is a 3 month inventory. So does that mean that all the current listings in Forest Lakes will be sold in three months? No it doesn't. Condition and pricing still trump inventory.

So if you're looking for a great place to live that's beautiful, clean, safe and convenient to everything, please give Forest Lakes a look. It's not only a great place to live and raise a family it's a great investment.

Charlottesville VA Real Estate Market - How's it Faring?

 

Ok let's look at the numbers. How is the Charlottesville real estate market doing? As of today July 11th there are 1,140 homes for sale in Albemarle County. In the past thirty days there have been 82 go under contract. I use the past month and not a longer period only because I believe the data would be skewed by the Obama tax credit. That tax credit bump is a false inflationary factor compared to today's reality. So that means that there is about 13.6 months of inventory. Using the combination of the city of Charlottesville and Albemarle county has 1,521 homes for sale and 108 under contract in the past month, which gives 14.1 month inventory.

However, all real estate is local. Certain areas like Forest Lakes are fairing well. Right now there are 21 homes for sale in Forest Lakes, that's out of 1,400 homes in the neighborhood, and 8 have gone under contract in the past month. So that means there is a 3 month inventory. So does that mean that all the current listings in Forest Lakes will be sold in three months? No it doesn't. Condition and pricing still trump inventory. It's still a buyers market and buyers want a deal.

So if you're looking for a great place to live that's beautiful, clean, safe and convenient to everything, please give Forest Lakes a look. It's not only a great place to live and raise a family it's a great investment.

Charlottesville's Forest Lakes is Still Hot Market.. 

    

Information from our local Charlottesville Area Association of Realtors MLS indicates that out of  approximately 1,400 homes in Forest Lakes there are just 22 homes for sale, only 2 of which are deemed distressed properties, and just a scant few for rent. In the past month there have been six Forest Lakes homes go under contract, while in the past three months there have been 36 homes go under contract. Could it be that there may be only three months of standing inventory? If you are looking for a great place to live that's beautiful, clean, safe and convenient to everything, please give Forest Lakes a look. It's not only a great place to live and raise a family it's a great investment.

Forest Lakes is a Charlottesville bedroom community situated in northern Albemarle county. It is convenient to everything including downtown Charlottesville, UVA, the Medical Center, and NGIC. Residents enjoy many amenities including two swim and tennis clubs, a large fitness center, 12 miles of paved jogging trails, neighborhood elementary and middle schools. And if investment dynamics and market trends are your forte, then you know that all real estate markets are local. Well if our local Charlottesville Forest Lakes neighborhood market is indicative of market trends then this market is looking rosey. Between the period of 1/1/2009 and 6/30/2009 there were 11 sales of single family homes. This year 2010 during the same period there have been 34 sales of single family detached.

Forest Lakes continues to show stabilized value.

    

Forest Lakes a Charlottesville bedroom community in northern Albemarle county is convenient to everything including downtown Charlottesville, UVA, the Medical Center, and NGIC. Residents enjoy many amenities including two swim and tennis clubs, a large fitness center, 12 miles of paved jogging trails, neighborhood elementary and middle schools. Out of about approximately 1,400 homes in the neighborhood our MLS indicates there are just 27 for sale, only 4 of which are deemed distressed properties, and just a scant few for rent. If looking for a great place to live that's beautiful, clean, safe and convenient to everything, please give this neighborhood a look.

Forest Lakes Single Family Homes Sales Triple Since Last Year !!

And if investment dynamics and market trends are your forte, then you know that all real estate markets are local. Well if our local Charlottesville Forest Lakes neighborhood market is indicative of market trends then this market is looking good. Between the period of 1/1/2009 and 6/20/2009 there were 11 sales of single family homes. This year 2010 during the same period there have been 34 sales of single family detached. Also looking at the combination of attached and detached homes over the same period the sales have doubled from 23 to 52.

               

Video Tour of Beautiful Charlottesville Virginia

This video is for those of you unfamiliar with our beautiful Charlottesville Virginia.

Charlottesville VA real estate has proven stability and rock solid value. The University of Virginia and its world class medical center provide the stability. The value rests with its history, picturesque beauty, central location, strong economy as well its past and present property owners, who include among others Thomas Jefferson, James Madison, James Monroe, Teddy Roosevelt, Meriwether Lewis, George Rogers Clark, Muhammad Ali, John Kluge, John Grisham, William Faulkner, Jessica Lange, Sam Sheppard, Lee Majors, Kate Jackson, Sissy Spacek, and The Dave Mathews Band.