2014 promises to be an interesting year in the Charlottesville area real estate market. The market will be influenced by wide array of external factors. One of those factors that will be influecing the marketplace, is the impact of the retiring “Baby Boomer” generation.
Charlottesville Home, a new, local lifestyle and home resource publication, published an article on this very topic in their inaugural issue. Nest Realty’s founder and Principal Broker, Jonathan Kauffmann, had the honor of being featured in this article and providing his insight on the trends developing in the Charlottesville real estate market. The article highlights how baby boomers make up a significant portion of the current homebuyer population and the ways in which their preferences have been changing. Kauffmann specifically notes the decrease in demand for homes in the 6,000+ square feet category and the emphasis on energy costs and eliminating wasted space.
Whether you fall into the “Baby Boomer” demographic or not, it is important to know how this segment of buyers impacts the market as a whole. You can read the full article online at CharlottesvilleHomeMagazine.com. At Nest, our goal is to ensure you are equipped to make confident, informed decisions, which is why we welcome the opportunity to discuss the market with you in greater depth. If you have questions about this article or the market in general, don’t hesitate to check out our 2013 Nest Annual Report or contact us and get connected with a Nest agent.