The Nest Report

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Withdrawn/Expired: 24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Withdrawn/Expired: 10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Withdrawn/Expired: 58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

*Charlottesville MSA includes Albemarle County, Charlottesville City, Fluvanna, Greene, Louisa, and Nelson

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.