All Real Estate is Local – Including Charlottsville Real Estate
Like The Weather – Real Estate is a Local Concept
Charlottesville real estate isn’t in located Chattanooga or Portland or Austin or Detroit… it’s in Charlottesville, VA and in the spectacular county of Albemarle (where you will find the home of Thomas Jefferson just minutes from downtown) with the Blue Ridge Mountains and Wintergreen Resort real estate just 30 minutes to the West. And, just like the weather, all real estate is local and today is no exception.
Our 2007 Down Market – The Fourth Highest in History!
The Charlottesville real estate market is and always has been unique and this past year, where we just recorded our fourth highest sales total in the history of our MLS, puts this truism in perspective. That’s right, in the “down” Charlottesville real estate market of 2007, we recorded our fourth highest sales total in the history of our MLS. It is our unique quality of life that ensures the resilience of our marketplace and sustains the long-term desire for people to live and own real estate in the area. By living here, residents are able to share in the area’s beauty and special history. Monticello along with Ash Lawn, Montpelier and Mount Vernon, homes of four United States Presidents, are less than 30 minutes from Charlottesville (Mount being the exception at 90 minutes) and are great examples of some of the historical treasures that capture the imagination of natives and newcomers alike.
Basing Your Charlottesville Real Estate Decisions on the Facts
So what does the fourth highest sales total and a “down” Charlottesville real estate market look like? In 2007, there were 3,560 homes sold in our Multiple Listing Service (MLS) reporting area which, on the heals of the 2003 market, would have been a record setter, but on the heals of the 2006 market, represents approximately a 20% decline in total sales. As I mentioned in my recent post “Who Would be Dumb Enough to Buy a Charlottesville Home Now?“, our marketplace has been inordinately constrained by the mass media coverage of the credit crisis. As soon as the news coverage is behind us, there will be a discernible upswing in buyer activity as opportunity becomes reality for many savvy home buyers. Sellers are getting smart and adjusting their pricing to 2004 levels; there are great values in the marketplace; interest rates are favorable; and, the sanguine beauty and historic treasures of Charlottesville and Albemarle County continue to beckon.
What is your perception of the Charlottesville real estate market?
What impact has our “down” 2007 market played in your “local” real estate decisions? Has the national media buzz kept you parked on the sidelines waiting to “time” the market? Do you have a question about the state of the local Cvill real estate market? Be the first to comment – it’s easy!
Until my next post,
Brian
Your Charlottesville Real Estate Resource
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