Archive for the 'Monthly Statistics' Category
February Sales of Lake Monticello Real Estate
March 9th, 2010 categories: First Time Buyers, For Buyers, For Sellers, Lake Monticello, Market Statistics and Information, Monthly Statistics, News
It’s time to take a look at the February sale stats for Lake Monticello Real Estate. . .
Luckily, things are warming up and Spring is just around the corner. In looking at the February stats for Lake Monticello, it looks as if the snow and the tough winter put quite a freeze on the market.
Lake Monticello sees only 3 sales in February
- February was a tough month for Lake Monticello real estate sales. A total of only 3 homes sold in the month of February, 2010. This is half as many as the number of homes sold (6) in February of 2009.
- The highest price of the February sales was $199,500. The lowest was $153,000. The average of the 3 homes was $174,833.
Lake Monticello ahead of 2009 pace
Through February, there have been 13 sales in Lake Monticello in 2010. This number is much better than the 9 sales that Lake Monticello saw during the first two months of 2009. Despite the low number of February sales, the 2010 Lake Monticello real estate market is ahead of last year’s pace, so far.
February sales market analysis
Below is an analysis of the February 2010 sales in Lake Monticello. The analysis gives you information on each of the homes sold, and cumulative data for all of them. As always, if you have any questions at all, please don’t hesitate to contact us. We’re happy to help however we can!
February 2010 Lake Monticello Real Estate Sales Analysis
All of the statistics and data provided come from the Charlottesville Area Association of REALTORS MLS. The information provided is believed to be accurate, but is not guaranteed.
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Lake Monticello Sales Triple in January 2010
February 10th, 2010 categories: Communities, Lake Monticello, Market Statistics and Information, Monthly Statistics, News
With all this snow and the challenges that come with it, you might be looking for some positive news. We’ve just run the January sales statistics for Lake Monticello, and the news is very positive, indeed. . .
9 homes sold in Lake Monticello in January 2010. This is triple the number of homes sold (3 homes) in January of 2009.
A closer look at the Lake Monticello January Stats
- Of the 9 homes that sold in January 2010, only one of them was a waterfront home. That waterfront home sold for $507,000.
- The other 8 homes all sold for between $235,000 and $132,000.
- The average sold price of the non-waterfront homes was $193,500
- The median sold price of the non-waterfront homes was $209,500
For a bit of a historical perspective, these numbers are much closer to the January sales numbers during 2008 at Lake Monticello. In January 2008, 10 homes sold in the month of January. As you might imagine, the median and average prices were both higher in January of 2008.
Given how poor the numbers were in January of 2009, this is certainly a much better foot on which to begin 2010. You can be that we’ll be closely monitoring the sales numbers each month through the year as part of our comprehensive market statistics.
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Sales double in Fluvanna and Lake Monticello in November
December 10th, 2009 categories: Communities, First Time Buyers, Fluvanna County, For Buyers, For Sellers, Lake Monticello, Market Statistics and Information, Monthly Statistics, STR Market Info Blitz
This post is part of the Strong Team REALTORS Market Info Blitz. We’re heating up the Winter market by giving you three-months worth of the information you need, November through January. Check out the latest posts in the blitz, here.
November was a very good month for the real estate market in Fluvanna and Lake Monticello, and we’ve got the numbers to prove it. In 2008, November was quite slow month, with only 6 sales in Lake Monticello, and 12 sales in all of Fluvanna County (including Lake Monticello).
November 2009 saw sales more than double. Lake Monticello totaled 15 sales in November 2009, and Fluvanna County (including Lake Monticello) saw 26 total sales.
Let’s take a look at the numbers:
November 2008 Lake Monticello Real Estate Sales
November 2009 Lake Monticello Real Estate Sales
November 2008 Fluvanna Real Estate Sales (including LM)
November 2009 Fluvanna Real Estate Sales (including LM)
What does it all mean?
This is definitely a good sign for the real estate market in Lake Monticello and Fluvanna. Any monthly increase in sales is a good thing, especially given the downward trend over the most recent months.
There is no way to say for sure what lead to this sharp rise in sales. One possible reason is that the first-time home buyer tax credit was originally due to expire at the end of November. This means that those who wanted to take advantage of the credit needed to make sure that their homes closed before November 30th. It would be reasonable to expect that the push for November closings would lead to the increase in sales. While it is reasonable, and perhaps even probable, there is no way to be sure. As we told you in November, the tax credit was eventually extended and expanded.
How can I use this information?
The one thing that people should take away from this information is that buyers are, in fact, in the market. This fact is an encouraging sign. Whether or not the November increase is a signal of a turn in the market remains to be seen. If we see numbers fall back to more traditional levels in December and January, it might mean that the November spike was due to what people thought would be the expiring tax credit.
In January, we’ll be releasing our year-end market report. You’ll want to be on the look out for that, as it will cover the sales statistics for the entire year of 2009, and compare them to 2008. Only then will we be able to see how the market fared in 2009.
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October real estate market stats for Lake Monticello and Fluvanna
November 4th, 2009 categories: Communities, Fluvanna County, Lake Monticello, Market Statistics and Information, Monthly Statistics, STR Market Info Blitz
This post is part of the Strong Team REALTORS Market Info Blitz. We’re heating up the Winter market by giving you three-months worth of the information you need, November through January. Check out the latest posts in the blitz, here.
Our most recent market report covered sales statistics for the 3rd Quarter in the Charlottesville Area real estate market. Now, it’s time to take a look at the stats for the month of October. You can expect the monthly reports to be published here from now on. We’ll just be doing them as individual articles. We’ll save the longer, published report for the end of each quarter.
The statistics in this article will be for Lake Monticello and Fluvanna only. All of the stats are just for the month of October, and all of the stats come from the Charlottesville Area Association of REALTORS MLS. All of the stats are believed to be accurate, but they are not guaranteed.
2009 October Real Estate Sales in Lake Monticello
2008 October Real Estate Sales in Lake Monitcello
2009 October Real Estate Sales in Fluvanna (including Lake Monticello)
2008 October Real Estate Sales in Fluvanna (including Lake Monticello)
What does it all mean?
The first thing we need to do is separate out the numbers for Fluvanna by itself. Do do that, we subtract the Lake Monticello numbers, and find that Fluvanna County properties saw 15 sales in October of 2009, and 14 sales in October of 2008.
Sales of properties in Fluvanna County rose by 1 in 2009. This is obviously a good thing, as it signals a potential stabilization of the market there. Since those numbers come from the county totals, we don’t know the median price of the sales, but for Fluvanna County overall, the median fell 11%.
The real estate sales numbers in Lake Monticello were mixed. The total number of sales fell 28%, but the median rose by 1.5%. These numbers were not quite as good as we had expected.
Strong Team REALTORS experienced good sales numbers in October in Fluvanna and Lake Monticello, and we were hoping that this would extend to the entire market. What we discovered, however, was that of the 32 transactions in Fluvanna County, Strong Team REALTORS participated in 16, or 50% of them. The lesson that you can take away from that is that personal experience is often anecdotal, and not necessarily a reflection of a larger trend.
How you can use this information
Among Fluvanna County and Lake Monticello real estate, October numbers might indicate that this winter will be much like last winter. Sales will go through their normal slow-down. What is different this year, however, is that the median price of homes is definitely lower. A lower median means that their are opportunities for you if you are in the market to buy a home.
If you are selling a home in Lake Monticello or Fluvanna County, you need to be aware that the median price has dropped from last year, and there have been fewer sales, as well. Looking at the longer-range statistics, it appears that the market is beginning to stabilize, but you should expect this year, and the beginning of 2010, to be more of the same. The likelyhood of significant increases in either sales or median price remains remote.
All of this information should give you a more complete picture of the current real estate market in Lake Monticello and Fluvanna. If you have any questions about any of the information, or would like more specific statistics, just let us know. We are happy to provide whatever information we can gather for you.
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October real estate market stats for Charlottesville and Albemarle
November 3rd, 2009 categories: Albemarle County, Charlottesville, Market Statistics and Information, Monthly Statistics, STR Market Info Blitz
This post is part of the Strong Team REALTORS Market Info Blitz. We’re heating up the Winter market by giving you three-months worth of the information you need, November through January. Check out the latest posts in the blitz, here.
Our most recent market report covered sales statistics for the 3rd Quarter in the Charlottesville Area real estate market. Now, it’s time to take a look at the stats for the month of October. You can expect the monthly reports to be published here from now on. We’ll just be doing them as individual articles. We’ll save the longer, published report for the end of each quarter.
The statistics in this article will be for Charlottesville and Ablemarle only. We’ll share stats for other areas in the next few days. All of the stats are just for the month of October, and all of the stats come from the Charlottesville Area Association of REALTORS MLS. All of the stats are believed to be accurate, but they are not guaranteed.
2009 October Real Estate Sales in Charlottesville and Albemarle
2008 October Real Estate Sales in Charlottesville and Albemarle
What it all means. . .
As you can see from the number of sales, October 2009 looked slightly better than October 2008 in Albemarle. In fact sales were up by a total of 8 in Albemarle, which represents a 13% increase over 2008. The median price dropped slightly in Albemarle, but only by 1.5% compared to last year.
The City of Charlottesville managed to hold on during October, matching the number of sales seen in 2008. The big change was in the median sales price. That number dropped 12% in 2009.
All of this is consistent with the trend we have been seeing over the last few months– while sales may be holding steady or even increasing, the median price of those sales is dropping.
How you can use this information
If you’re living in Charlottesville or Albemarle and thinking of selling, you should be aware the homes are not selling for the same amounts as last year. It is also good to note that the bulk of market activity has moved towards lower price ranges. That simply means that you should adjust your expectations accordingly.
If you’re thinking of buying a home in Charlottesville or Albemarle, you, too, should be aware of what is going on in the price range in which you are looking. If you are looking in a range that is at or below the median, you can expect there to be competition for homes from other buyers.
All of this information should give you a more complete picture of the current real estate market conditions in Charlottesville and Albemarle. If you have any questions about any of the information, or would like more specific statistics, just let us know. We are happy to provide whatever information we can gather for you.
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