Lake Monticello Sales Stats for May 2010
June 1st, 2010 categories: Communities, For Buyers, For Sellers, Lake Monticello, Market Statistics and Information, Monthly Statistics, Neighborhood Statistics
With the Memorial Day Weekend now behind us, and summer unofficially here, it is time to take a look at how the Lake Monticello real estate market fared in May of 2010.
We’ll share the Lake Monticello sales stats for May of 2010, and compare them to May of 2009. Let’s take a look. . .
Lake Monticello Real Estate Sales– May 2010
- There were 14 homes sold in Lake Monticello
The average sales price was $235,357
The median sales price was $184,500
Lake Monticello Real Estate Sales– May 2009
- There were 10 homes sold in Lake Monticello
The average sales price was $245,750
The median sales price was $216,000
Lake Monticello Real Estate Sales– May analysis
The good news is that there were 4 more sales in May 2010 than in May 2009. It is possible that some of this increase is due to the federal homebuyer tax credits that were extended through April of 2010. The 4 homes represent a 40% increase in year-over-year sales for May.
As expected, the median and average price were both down compared to last year. The falling of the median home price is something we have been experiencing for quite a while now, and it appears that the trend is continuing in 2010. The lower average price was due to the fact that more than half of the homes sold in May were under $200,000. This could be evidence that May sales were spurred by the expiring tax credits, but there is no way to know for sure. Certainly, the majority of sales in Lake Monticello have been in the lower price ranges, and there is no reason to expect that to change this year.
If you have any questions about any of our Lake Monticello real estate stats, or any questions about the community, just let us know. We’re happy to help however we can!
*All of the statistics shared come directly from the Charlottesville Area Association of REALTORS MLS. The stats are believed to be accurate, but cannot be guaranteed.*
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Lake Monticello Real Estate Market Stats for April 2010
May 3rd, 2010 categories: Communities, Lake Monticello, Market Statistics and Information, Monthly Statistics, Neighborhood Statistics
It is time for another monthly market update for Lake Monticello. We’ve already looked at the entire 1st Quarter of 2010. Now it’s time to take a look at April, which is typically the first month in the real estate selling season.*
- There were 13 homes sold in Lake Monticello in April, 2010. Lake Monticello had 18 sales in April 2009.
- The average sales price in April 2010 was $248,600. The average sales price in April 2009 was $208,336.
- The median sales price in April 2010 was $185,000. The median sales price in April 2009 was $190,500.
What does this mean?
The stats for April are a bit mixed. There were less sales, but the average price was higher, while the median remained almost unchanged. The fact that sales were a bit behind 2009 isn’t terribly surprising, considering that the market was still feeling the lingering effects of the harsh winter.
It will be interesting to see what happens with May sales stats in Lake Monticello. In 2009, May was an unusually bad month, with only 10 sales. As of right now, there are currently 39 homes under contract in Lake Monticello. Obviously, all of those homes won’t be closing in May, but Lake Monticello can equal last year’s may stats if only 25% of those homes under contract close in May. Unfortunately, we don’t have any way to see how many homes were under ntract in the beginning of May 2009 to compare with.
So, while April stats were a bit behind 2009, things are looking up for May.
As always, we’ll be keeping a close eye on the market, and you can always check back here to get updates.
We also encourage you to sign up for our Strong Team Newsletter, if you would like more information about the real estate market here.
*These stats come directly from the Charlottesville Association Area of REALTORS MLS, and are believed to be accurate, but are not guaranteed.
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Get a Personal Copy of our 1st Quarter Charlottesville Area Market Report
April 13th, 2010 categories: Albemarle County, Charlottesville, Communities, First Time Buyers, Fluvanna County, For Buyers, For Sellers, Lake Monticello, Market Statistics and Information, Quarterly Reports
Now that the first quarter of 2010 is behind us, it is time to take a look at the Charlottesville area real estate market statistics, and see how things are going so far. This is something that we do every quarter, and have done for the last year. We’ll be releasing the report first to our clients and subscribers to our Strong Team Newsletter.
In the report, we’ll look at the real estate market in the entire Charlottesville area, and pay special attention to the markets in Fluvanna County and Lake Monticello.
In the report, you’ll find out:
- The average days on market for homes sold in the Charlottesville area
- Median home price of homes sold in the Charlottesville area
- Sales statistics by price range
- MUCH MUCH MORE!
If you would like a personal copy of the report, all you have to do is sign up for the Strong Team Newsletter by going here, or using the box in the left sidebar. In addition to our quarterly market reports, you’ll get plenty of information and things you want to know about the Charlottesville area.
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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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