NBC29 news did a piece on Thursday on Charlottesville’s Avon Center retail development.  You can check it out here.

No one has made an official announcement yet on the specifics or the timeframe of development.  The big unknown is the expansion/construction of the Bent Creek Parkway, which will connect 5th Street to Avon Street and will serve as the linchpin for the entire Avon Center development.

Avon Center will have a big impact on residents living in Downtown Charlottesville and Southside, including neighborhoods like Belmont, Mill Creek, Redfields, Mosby Mountain and Whittington.

Located in Southside
4 miles to Downtown / 8 mins by car
Closest Vineyard: Jefferson Vineyards (5 miles)

Located just a few miles southwest of Charlottesville and minutes from Downtown, UVA, and Interstate 64, Redfields real estate options include single family homes and some attached manor homes. This 275-acre neighborhood features a community pool and pavilion, playground, walking trails, and a lake. Redfields homes offer views of the Albemarle County Countryside and the Ragged Mountains. Homes were built by numerous area builders between 1991 and 2007.

Redfields Market Report Through Q3 2009

After a slow start to the year, Redfields home sales have actually picked up nicely over the last few months.  While you may look at the charts below and see a dramatic drop from the 74 sales in 2004 to the 22 through Q3 of this year, the 2004 sales were a complete anomoly.  From 2005 to 2009, sales have remained fairly steady. In fact, this years 22 sales have already surpassed the 21 sales from both 2007 and 2008.

While sales have remained steady over the last 3 years, prices have backed off…as they have in every other neighborhood and street in Central Virginia during that span.  Sales prices peaked at $173/sf in 2007, dropped to $156/sf last year and then again to $140/sf through Q3 2009. 

I think we’ve seen such a big drop for a variety of reasons, but one of the contributing factors this year has been that there have been a lot of homes for sale in Redfields in 2009.  The competition has definitely fueled price drops as sellers jockey for position in getting their homes sold against the competition.  As of October 25th, there were still 10 homes for sale…so I wouldn’t be surprised if prices backed off a little more over the coming months.

However, Redfields continues to be a popular neighborhood because of its amenities, popular floor plans, and proximity to Downtown and both hospitals.  If prices continue to drop, I’d expect buyers to continue to snap up these homes at good prices.

Redfields Home Sales Price Per Square Foot 2009

Redfields Total Home Sales Q3 2009