My Blog

This 2011 3rd Quarter Market Report is produced by the Charlottesville Area Association of REALTORS® using data from the CAAR MLS. For moreinformation on this report or the real estate market, pick up a copy of the CAAR Real Estate Weekly, visit www.caar.com, or contact your REALTOR®.

YTD 3rd Quarter Market Highlights:

• Top three areas for sales in 2011 remain Albemarle, Charlottesville, and Fluvanna.

• The most affordable areas in our market remain Fluvanna, Louisa, and Orange.

• Overall sales are down by 2.3% year to date from 2010.

• Active inventory is down at 3,239 which is 7.6% less than 2010.

Quarterly Highlights:

• Median sales price for the region is down 5.5% over the last quarter from $240,765 to

$227,500.

• New listings are down by 26.8%.

• The Days on Market (DOM) for homes decreased 5.9% since the second quarter.

The Bottom Line:

Our market is slowly absorbing existing inventory, as we see inventory levels continue to decrease. Affordability is the highlight so far this year, as evidenced by a 17.27% increase year to date in the number of sales for homes priced under $200,000. REALTORS® understand the current market and are experts in evaluating your unique needs.

As we move into the fourth quarter, sellers will compete with historically lighter buyer traffi c, making it essential to come on market at the right time and at the right price. It is still vital to consult a REALTOR® to prepare a thorough analysis of your options.

This 2011 3rd Quarter Market Report is produced by the Charlottesville Area Association of REALTORS® using data from the CAAR MLS. For moreinformation on this report or the real estate market, pick up a copy of the CAAR Real Estate Weekly, visit www.caar.com, or contact your REALTOR®.

Posted by Yates Nobles on October 11th, 2011 10:57 AMPost a Comment (0)

Subscribe to this blog
Recent Posts:
Archive:
My Favorite Blogs:
Sites That Link to This Blog:

Yates Nobles, GRI, SRS, ABR, E-PRO, GREEN - Associate Broker, Montague, Miller & Co. - Downtown Montague, Miller & Co - Downtown - 245 Ridge-McIntire Rd - 22903 Charlottesville, VA 22903
Cell:

Why Get An Inspection? | Title Information | ResultsforYou | Why Choose Me | Contact Us | Curb Appeal List | Tax Closing Costs | Getting the Highest Price | Selling your own home | Free Home Valuation | Your FICO Score | How Escrow Works | All about Charlottesville | Golfing | Client Comments | Vineyards | Restaurants | C'ville Area Tax Assessment Rates | Concierge List | Green Colleagues | Charlottesville History in Photos | Green Homes | Rugby Rd Neighborhood | Closing Costs | First Time Buyers | Get Pre-qualified | Inspection Tips | Environmental Issues | Real Estate Glossary | Montague, Miller + Listings | Time to Sell? | Our Featured Homes | Home | The Bi-Weekly Mortgage | Mortgage Saving Tips | Your Downpayment | Your Buying Power | Mortgage Shopping | Locking in Rates | Lender Types | Staying Approved | Staging Your House | Staging Checklist | Creative Financing | Search Multiple Listing | Search Western Albemarle | Property Search | 9 Steps to Owning | Mold in the Home | Seller Paid Closing | Site Map | Bi-weekly Pmt Calc | ARM Calc | Fixed Rate Mtg Calc | 15 vs 30 Year Mtg Calc | ARM vs Fixed Rate Calc | Required Income Calc | Maximum Mortgage Calc | Rent vs Buy Calc | Mortgage Calculators | Your Dream Home | 9 Steps to Ownership | How to Sell Your Home | Staging Your Home | Reasons Homes Don't Sell | Improvements That Pay | My Blog

Copyright © 2012 Yates Nobles, GRI, SRS, ABR, E-PRO, GREEN - Associate Broker, Montague, Miller & Co. - Downtown
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.