[email protected]   |   (434) 260-1435
2110 Ivy Road   |   Charlottesville, VA 22903
facebook instagram
Story House Real Estate Story House Real Estate
Navigation
  • ABOUT US
    • Who We Are
    • Mission Statement
    • Our Philanthropy
    • Our Success Stories
      • Client Profiles
      • Client Testimonials
      • Press & Recognition
      • Our Sold Homes
    • Blog
    • Newsletters
  • SELL A HOME
    • How We Sell
    • Seller Profile
  • BUY A HOME
    • Buyer Profile
    • Our 10 Step Process
      • Consult Your REALTOR®
      • Arrange Your Financing
      • Find Your Home
      • Prepare a Purchase Offer
      • Contract for Your Home
      • Conduct Inspections
      • Finalize Your Financing
      • Prepare for Settlement
    • Buyer Profile
    • Our Listings
    • New Listings
    • Search All Active Listings
      • Search by County
      • Charlottesville Area Neighborhoods
  • LET’S CONNECT

Charlottesville Area Year-End Market Report

The 2012 year-end market report has just been released from the Charlottesville Area Association of REALTORS, and it’s results are right in line with what I had been predicting and sharing with you throughout the year.  Perhaps there is a light at the end of the tunnel for this depressed real estate market, after all!

In general, the findings were;

  1. Overall, the number of sales in Greater Charlottesville were up 15% over 2011, resulting in largest year-over-year increase in seven years.
  2. Median sales price for the region in Q4-2012 was up 8% over last quarter and Q4-2011 to $260,000.
  3. Average Days on Market was relatively unchanged from the 5-year average- we’re still around 150 DOM, while the MEDIAN days on market is dropping.
  4. We had our first annual increase in median sales price since 2007 (!! hopefully this is not a fluke but is a beginning of a trend!)
  5. Unfortunately, Louisa County is still behind the trend, only to be beat by the even-more-challenged Fluvanna.

2012 Year End CAAR Market Report– Read the full report here.

So what does all of this mean?

HOPEFULLY, for sellers, this means that we have weathered the worst of the storm- assuming we don’t get hit by a double dip.  It also means that right now we are a bit low on appealing, well-priced inventory but that appealing, well-priced inventory should sell.  If you have waited and waited to see some slight signs of life in the market, it might be worthwhile to consider making your move now.

That being said, if you are DOWNSIZING seller or moving into a lower price range or into renting, it may be ideal to try to wait another 3-5 years, when we may see some cumulative appreciation again.  If you are a MOVE-UP seller, moving to a higher price point, this may be an IDEAL time to take serious action to get your home sold so that you can take advantage of the low interest rates, plus the reduced pricing on your bigger, more expensive home.

For buyers it means- consider getting off the fence.  If you have been waiting and waiting for the bottom of the market, you may be at risk of missing it completely.  If you are finding homes you’re attracted to and excited about, don’t let your interest linger.  When inventory is down, the well-priced homes in good condition will sell, sometimes very quickly.  With interest rates at an all-time historical low, and prices potentially approaching stabilization and increase, let’s consider discussing the next step.

Please reach out to our team if you’re considering making a real estate decision this year- we would love to help guide you in the right direction.


Posted on January 16, 2013 Leave a Comment

Leave Your thought on this post Cancel reply

You must be logged in to post a comment.

PROPERTY SEARCH


OUR LISTINGS

$320,000 72 Court Pl
Charlottesville Va
$340,000 1037 Beaver Dam Rd
Keswick Va
$475,000 4518 Briarwood Dr
Charlottesville Va
VIEW MORE

NEIGHBORHOODS

ALBEMARLE CHARLOTTESVILLE FLUVANNA GREENE LOUISA MADISON NELSON ORANGE
VIEW MORE
View

May 22

Open
We want to wish a very happy birthday to the fabulous Zoya! 🎂 🥳 🎉 

Zoya, you are dedicated, kindhearted, and an absolute joy to be around, and we are so blessed to have you on the team!

Your Story House family is sending you so much love and we hope you feel celebrated on your special day! 💗🦚 

@zoyaelizabeth #StoryHouseBirthday #StoryHouseRealEstate #StoryHouseRE
View

May 20

Open
☀️ With temperatures set to reach the mid-90s this weekend, it feels like we skipped straight to summer! 🌞⛱ There are so many opportunities to get out and enjoy the sun this weekend including fun activities for the family, ideas for an adult's night out, and UVA graduation! 🧡 💙 🎓

What are you up to this weekend and how are you planning to beat the heat? 

#StoryHouseRealEstate #storyhousere #localevents #weekend #Charlottesville #cvillelove #thislocallove #Charlottesvillevents
View

May 19

Open
JUST LISTED | THREE NEW HOMES 🎈 

🏠 72 Court Place, Charlottesville, Virginia 22901 | MLS #630403 | $320,000 | 🛏️ 2 bed 🛁 2 1/2 bath | 🎉 OPEN HOUSE Sunday, May 22nd from 11 AM - 1 PM, hosted by Abby!

🏠 4518 Briarwood Drive, Charlottesville, Virginia 22911 | MLS #630416 | $475,000 | 🛏️ 4 bed 🛁 2 1/2 bath 

🏠 1037 Beaver Dam Road, Keswick, Virginia 22947 | MLS #630406 | $340,000 | 🛏️ 3 bed 🛁 2 bath | 🌳 2.00 Acres | 🎉 OPEN HOUSE Sunday, May 22nd from 12 PM - 2 PM, hosted by Josh!

📩 Email showings@storyhouseRE.com with questions! Showings begin by appointment Friday, May 20th.

#justlisted #Charlottesvillerealestate #StoryHouseRealEstate #StoryHouseRE #startyournextstory #Charlottesville #startyourstorywithus #newlisting
View

May 18

Open
This Local Love ❤️ of ours is featuring @jaclynscookies! From birthday parties to graduation ceremonies to beautiful wedding designs, Jaclyn's Cookies does it all! Jaclyn creates beautiful and intricate designs and specializes in creating hand-decorated sugar cookies! 🍪 

Next week, Jaclyn will take us behind the scenes of her decorating process. Check back next week to see Jaclyn's takeover on our Instagram!

#thislocallove #yummy #JaclynsCookies #sugarcookie #localrecipe #decoratedcookie #smallbusiness
View

May 17

Open
JUST LISTED | Tax Map 34-3-A Covered Bridge Road, Kents Store, Virginia 23084 | MLS #630455 | $150,000

🌳 Build your dream home on this gorgeous 27.276 acres of partly wooded, partly cleared land in Kents Store, Virginia!

This 27.276-acre lot features a creek/stream, gravel driveway/entrance, and large equipment shed! 

📍 Enjoy being located within the Fluvanna High School District, approximately 1.2 miles south of the intersection of Venable and Covered Bridge Road. 

📩 Email showings@storyhouseRE.com with questions or to schedule a drive-by or to walk the land!

#justlisted #Charlottesvillerealestate #StoryHouseRealEstate #StoryHouseRE #startyournextstory #Charlottesville #startyourstorywithus #newlisting #landlisting
Story House Real Estate logo
STORY HOUSE REAL ESTATE
2110 Ivy Road
Charlottesville, VA 22903
Phone: (434) 260-1435
facebook instagram
LICENSED TO SELL REAL ESTATE IN THE COMMONWEALTH OF VIRGINIA
REALTOR icon Equal Housing icon
© 2021 Story House Real Estate. All Rights Reserved.