Single family home sales in Western Albemarle (which includes Ivy and Crozet) seem to be showing some positive signs over the last few months. Total sales per month were higher in 4 of the last 5 months of 2009 as compared to 2007 and 2008 sales.
A few more quick Charlottesville real estate statistics:
– November and December 2009 total sales significantly outpaced 2007 and 2008
– Inventory levels in Western Albemarle were significantly down in the final quarter of 2009 as compared to similar timeframes over the past 2 years. 4th quarter inventory in 2007 and 2008 averaged about 15 months. In 2009, it was around 10 months.
– Median sold price is down in 2009 is down approximately 5.5%
Overall, Crozet real estate and Ivy real estate have been stronger and slightly more resilient markets over the last few years as compared to some other areas of Charlottesville. Their resiliency can be tied to a few factors that makes them desirable places to live.
