Here’s another quick weekly snapshot of real estate activity in Charlottesville, Albemarle, and Charlottesville MSA. Overall, it was a pretty normal week: more listings came on than homes went under contract (+23 in Albemarle County, +18 in Charlottesville, +66 in the Charlottesville MSA.
However, you will notice that the Albemarle and MSA average price is a bit high – you can thank a $14,500,000 listing for that. That type of number tends to throw things off a bit...and it’s why you can’t just look at a weekly snapshot to determine average pricing.
Charlottesville and Albemarle Real Estate Report 6/21/09-6/27/09
Albemarle County Home Sales
New To Market: 52 Average Price: $1,014,447 Median Price: $329,000 Avg $/SF: $254.27
Under Contract: 29 Average Price: $418,518 Median Price: $279,000 Avg $/SF: $174.23 Avg. DOM: 113
Sold: 25 Average Price: $271,292 Median Price: $250,000 Avg $/SF: $149.72 Avg. DOM: 97
Withdrawn/Expired: 24
Price Reductions: 43
Charlottesville Home Sales
New To Market: 28 Average Price: $309,689 Median Price: $244,900 Avg $/SF: $178.39
Under Contract: 10 Average Price: $263,460 Median Price: $260,000 Avg $/SF: $171.74 Avg. DOM: 76
Sold: 17 Average Price: $298,238 Median Price: $239,425 Avg $/SF: $185.61 Avg. DOM: 91
Withdrawn/Expired: 10
Price Reductions: 12
Charlottesville MSA Home Sales
New To Market: 115 Average Price: $621,657 Median Price: $259,900 Avg $/SF: $205.59
Under Contract: 49 Average Price: $351,066 Median Price: $260,000 Avg $/SF: $165.05 Avg. DOM: 131
Sold: 54 Average Price: $269,607 Median Price: $243,250 Avg $/SF: $157.80 Avg. DOM: 111
Withdrawn/Expired: 58
Price Reductions: 127
One final note: keep your eyes out for our Mid-Year Nest Report coming in a few weeks. We’ll focus specifically on residential home sales and real estate trends in Charlottesville and Albemarle, as well as the entire Charlottesville MSA.
