Charlottesville VA Condominiums Real Estate Market Report - May 2009

By
Real Estate Agent with Gayle Harvey Real Estate, Inc.

This Charlottesville VA condominiums real estate market report will examine the sales of condominiums in Charlottesville and Albemarle County during May 2009.

During May 2009, 14 Charlottesville condos sold.  The average sale price was $156,950.  The homes were on the market for an average of 82 days and sold for an average of 91.82% of the list price.

To put this in perspective, lets look at the April sales figures.  4 condos sold in Charlottesville Virginia during April 2009 with an average sale price of $169,425.  The average DOM was 294 days and the homes sold for an average of 96.11% of the list price.

Lets also see what was happening in March.  During March 2009, 4 Charlottesville VA condos sold.  The homes sold for an average sale price of $124,238 and were on the market for an average of 132 days.  They sold for an average of 95.21% of the list price.

graph of Charlottesville condo sales

graph of Charlottesville condo sales by median price

To get an overall picture of this year's Charlottesville condo market lets compare last years sales to date with the same period this year.  In 2008 from 1/1/2008-6/1/2008, 49 condominiums sold in Charlottesville and Albemarle County.  During the same time frame in 2009 only 12 condos on the Charlottesville-Albemarle real estate market have sold.  This represents a decline of -75.5%.

graph of year to date Charlottesville condo sales

There are currently 228 Charlottesville VA condominiums for sale.  The average list price is $254,138 and the homes have been on the market for 179 days so far.

As you can see from the graphs the sales of Charlottesville and Albemarle condos have been very slow this year.  In April we saw and increase in contingent and pending contracts which led to better sales figures for May as those contracts closed.  Unfortunately we do not see similar or increasing numbers of homes going under contract in May.

The above figures are from the mls and while they are presumed correct are not guaranteed.

Albemarle County VA Real Estate Market Report - May 2009

Charlottesville VA Real Estate Market Report - May 2009

Charlottesville VA Real Estate Market Report Attached Homes - May 2009

Fluvanna County VA Real Estate Market Report - May 2009

Louisa County VA Real Estate Market Report - May 2009

Greene County VA Real Estate Market Report - May 2009

Lake Monticello Real Estate Market Report - May 2009

 

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Contact Pam Dent, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at 434 960-0161 to buy a property in the following areas in Central Virginia: Charlottesville, Albemarle County, Keswick, Glenmore, Ivy, Crozet, Earlysville, Free Union, Cismont, Scottsville, Fluvanna County, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville.

  View all of the Charlottesville Virginia homes for sale.

 View my website Charlottesville Horse Farms or visit my other blog Charlottesville Horse Farms and Country Homes for more information on Charlottesville Virginia horse farms, homes, events and real estate. 

Copyright © 2009 by Pam Dent, all rights reserved, "Charlottesville Real Estate Market Report Condominiums - May 2009".

 

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