The Charlottesville homes and neighborhoods that have been hit the hardest over the last few years are arguably higher priced homes. The homebuyer tax credits were implemented to stimulate sales in lower to middle price points, but there hasn’t been much done to stimulate higher priced homes. On top of that, many sellers who are trying to sell their home to become buyers are downsizing instead of moving up.
Ashcroft home values have been hit hard over the last few years because of these reasons. However, since 2004, the average price per square foot in Ashcroft is down only 4% – a testimony to the neighborhood’s popularity and appeal.
While the number of new homes has dropped off, the resale rate in Ashcroft has stayed fairly strong. There are currently 3 closed sales in 2009. However, as of writing, there are 3 contingent and 1 pending sales. On the flip side, there are only 3 active properties currently listed for sale – those are priced between $410,000 and $849,000.
As for the price per square foot: Ashcroft values definitely took off from 2005-2007…peaking at a whopping $214/sf in 2007. But prices have come back down to earth in the last few years. Current price per square foot values in Ashcroft are hovering just above the average for Albemarle County.
Ashcroft’s location – with proximity to Interstate 64 and Pantops – will continue to be an asset moving forward…especially with the Martha Jefferson hospital relocation in a few years. But even though it’s close to Pantops and just a few minutes from Downtown Charlottesville, the views and secluded feel is Ashcroft’s biggest asset. There are few places you can live in Albemarle County and Charlottesville where you can be so close to the action, but feel so far away.
5 miles to Downtown / 13 mins by car
Closest Vineyard: Keswick Vineyards (5 miles)
Ashcroft, one of eastern Albemarle’s most prestigious communities, offers a unique mountainside setting with easy access to Pantops, Downtown Charlottesville, and Interstate 64. Ashcroft boasts over 500 acres of majestic mountainside living with approximately 270 home sites planned. Enjoy incomparable views of Charlottesville, Monticello and the Blue Ridge Mountains. Home sites are approximately one to two acres, with lakes, picnic areas, and a community pool. Ashcroft homes offer a unique architectural blend ranging from Colonials to Farmhouses to Contemporaries.