2010 is trending to be a decent year in real estate…so far. Well, maybe I should re-phrase that: it’s not any worse than 2009. We continue to hear some troubling news regarding foreclosures and defaults on a national level (stay tuned to the Nest Report later this week), but positive signs and trends continue to emerge from different nooks and crannies in the market.
In this post, I’m taking a look at single family homes in the City of Charlottesville. Whether you live in Woolen Mills, North Downtown, Rugby, Greenbrier, Robinson Woods, or any other great Charlottesville neighborhood…take note!
Don’t have time for a long analysis and want a quick synopsis of 2010 Charlottesville city real estate? OK, here you go: pretty much nothing has changed since last year.
You heard it right. Inventory is about the same. Sales are about the same. List to Sale ratios are about the same. Median price is off less than 3%. Days on Market are down slightly.
We’re actually a little surprised. Typically, as we segment the market out, we’re seeing sales up year-over-year…and inventory levels up a very comparable amount. We’re also tending to see median sales price and average sales price down somewhere in the 6-10% range since 2009.
Not for single family homes in the City. We’re basically at the same point in 2010 that we were in 2009.
I’m going to re-visit this in another month or so to see if single family homes in Charlottesville in 2010 have picked up any as compared to 2009. In the mean time, check out this almost identical chart….