Charlottesville Real Estate September Sales Statistics

October 11, 2007 |

August was rough, and September wasn’t any better for the Charlottesville real estate market. Below are the charts for the sales in the Charlottesville area in September, and for the entire year-to-date. As always the sales data is compiled from the Charlottesville Area Association of REALTORS MLS.

Let’s take a look:

septsaleschart.jpg

For the month of September, the Charlottesville area saw a 33% drop in sales compared to September of 2006. Ouch. That is after the 30% year-over-year drop in August. The only area that actually saw an increase in sales was the City of Charlottesville, which had 4 more sales.

Now let’s see how the September numbers affected the year-to-date statistics for the Charlottesville area:

septyeartodate.jpg

The sales deficit for the year is holding steady at 22% less sales in 2007 compared to 2006. That makes three consecutive months where the deficit has remained 22% (almost four– in June, the deficit was 23%). If there is some good news here, I guess that is it. If this holding trend continues, it may signal that we are in the bottom of the current dip. Right now, it is too early to be able to tell.

Albemarle is still the only area that has seen a drop in the median sale price at -2%. For the entire Charlottesville area, the median has risen 4.5% so far this year. While that number isn’t exactly spectacular, it is healthy and sustainable, which is a very good thing.

I was hoping that would able to post some Days on Market stats, as the rules have changed around here, but that will have to wait at least another month as the MLS sorts things out.

As we move into the final quarter of the year, the stats are bound to get more and more intriguing as we begin to get a complete picture of the 2007 Year in Real Estate. Stay tuned for more stats.

If you are reading this and have questions about the stats in specific neighborhoods or other areas not covered here, just let me know, I am happy to provide what I can.

[tags] real estate, realtor, charlottesville, albemarle, fluvanna, greene, nelson, market statistics, housing statistics, median home price, home sales statistics [/tags]

Posted by Daniel | Filed Under Albemarle, Buying, Charlottesville, Fluvanna, Greene, Market Statistics, News, Selling 

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