9 miles to Downtown / 15 mins by car
Closest Vineyard: Barboursville Vineyards (8 miles)
As one of the largest neighborhoods in the Charlottesville region – with approximately 1,400 homes – Forest Lakes is divided into two main sections – Forest Lakes North and Forest Lakes South. Community amenities include 6 beautiful lakes, woods, miles of walking and biking trails, 2 large swimming pools,multiple basketball courts, 10 tennis courts (8 lighted), two soccer fields, and a fitness center. Some Forest Lakes homes also have beautiful mountain or water views. Forest Lakes real estate options include single family homes and townhomes. Residents in some areas of the neighborhood can walk to shopping and dining, but all residents are a quick drive to Hollymead Town Center. Forest Lakes is a popular option if you are looking for NGIC real estate choices.
About 29 North
Northern Albemarle offers a wide range of housing choices and easy access to the most extensive retail and dining options in the entire county along Route 29 North. From the Fashion Square Mall to Hollymead Town Center and everything in between, Northern Albemarle residents are just minutes from just about any store you can imagine. There’s also an extensive variety of housing options: large and small subdivisions, rural communities, established neighborhoods with classic architecture, and many new home communities. But, Northern Albemarle isn’t just close to shopping – there are plenty of other amenities nearby. For nature lovers, Chris Greene Lake – with trails, picnic areas, a dog park, and a beach area – is an extremely popular destination. The Shenandoah National Park is just a few miles to the northwest and several vineyards on the Virginia Wine Trail are just a short drive. With its close proximity to the airport and with the influx of jobs affiliated with the UVA Research Park and NGIC, you can expect the growth in Northern Albemarle to continue.
Forest Lakes Market Update (Detached Homes)
Forest Lakes home sales have seen a steady drop over the last several years. In 2004, there were over 90 sales of detached homes. Each year since the, there has been a slight drop…and through 3 quarters in 2009, there have been 23 detached home sales. Part of the reason for a drop in sales can be tied to the fact that there are no more new homes being built in Forest Lakes.
In some cases throughout the region, large drops in sales can be tied directly to housing prices in particular neighborhoods getting out of line with other neighborhoods and the entire region. For instance, if prices in a particular neighborhood increased 25% in a period in which the rest of the market only increased 10%, eventually buyers don’t see value in that area and they begin choosing other neighborhoods…and a large reduction in sales results.
However, this doesn’t seem to be the case in Forest Lakes. Price per square foot in Forest Lakes has actually held steady with Albemarle County p/sf.
Moving forward, we expect sales in Forest Lakes to pick up…probably starting this coming Spring…because of the new jobs with NGIC and NGIC contractors. The majority of these jobs are within 10 miles of Forest Lakes…and the appeal of Forest Lakes amenities will surely attract buyers to the neighborhood. Therefore, we predict 2009 will be a ‘bottom’ in terms of sales numbers for Forest Lakes. Expect things to pick up in Forest Lakes in 2010.