2009 Lake Monticello & Fluvanna Real Estate Market Year-in-Review
January 28th, 2010 categories: Albemarle County, Charlottesville, Communities, First Time Buyers, Fluvanna County, For Buyers, For Sellers, Info, Lake Monticello, Market Statistics and Information, News, Quarterly Reports, STR Market Info Blitz
As promised on Monday, today is the day we release our 2009 Lake Monticello & Fluvanna Real Estate Market Year-in-Review. This report is just the latest edition of our Quarterly Market Reports.
2009 was in interesting year for real estate in the Charlottesville area, and especially in Lake Monticello and Fluvanna County. The year began with historically low sales numbers, but ended on a high note, spurred by the first-time homebuyer tax credit. All of this is reflected in the statistics in the report.
The report contains pages of statistics and analysis about the Charlottesville area and Lake Monticello and Fluvanna real estate markets. Here’s just some of the most interesting questions we answer in the report:
- Two counties in the Charlottesville area had more sales in 2009 than in 2008. Which ones were they?
- How many sales were there in Fluvanna and Lake Monticello in 2009? Which months were the best?
- What was the median home price in Fluvanna and Lake Monticello in 2009?
- What was the impact of the First-time Homebuyer Tax Credit on the market?
- How was the Lake Monticello waterfront market impacted in 2009?
These and many other critical pieces of information are included. We’ve been hard at work compiling the stats and doing the analysis because we want our clients to be the most informed clients in the area about the real estate market. This information is critical for you to have and understand so that you can make good decisions and reach your real estate goals.
Once again, you can find the report here. From that page, you can download, print, or even share the report with others. If you have any problems viewing the page, and would like us to email you a PDF copy of the report, just send us an email, and we’ll get it out to you right away. If you want, you can also scroll down and view the report right here in this post, and you still have the option of downloading or sharing the report with anyone you think might benefit from it.
As always, if there is anything you need, or any questions we can answer, don’t hesitate to ask. We’re always here to help you however we can.
2009 Lake Monticello and Fluvanna County Real Estate Market Year-in-Review
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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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2009 3rd Quarter Real Estate Market Report for Fluvanna County and Lake Monticello
October 22nd, 2009 categories: Communities, Fluvanna County, Lake Monticello, Market Statistics and Information, Quarterly Reports
Now that the first 9 months of 2009 are behind us, it is time to take a look at where the Charlottesville area real estate market stands. In the latest edition of our quarterly reports, there are some interesting facts worth noting:
1) For the entire Charlottesville area, 3rd Quarter sales numbers in 2009 were very close to the same as in 2008.
2) Compared to 2008, Lake Monticello has seen the median home price drop 15% in 2009
3) There have been 40% fewer waterfront home sales in Lake Monticello in 2009, but the average sold price is higher.
As with all of our quarterly reports, the data included covers number of sales, sales by month, sales by price range, and average days on market, along with a whole host of other information that will help you get a more complete picture of the current state of the Lake Monticello and Fluvanna real estate market.
For those of you who aren’t big on numbers, and just want to know what conclusions we drew from the data, take this from the report:
Now that we have made it through the 3rd quarter, it does appear that 2009 might be the year that we see the bleeding stop. In the area overall, numbers in the 3rd quarter were very close to the numbers seen in 2008. This just might indicate that we are reaching a more stable point in the market.
It is important to note that a “recovery” DOES NOT mean that we should expect to see increasing sales numbers or appreciation going forward. Right now, “recovery” simply means that numbers will stop trending downward. Everything suggests that both sales numbers and median price will be lower in 2009 compared to 2008. The encouraging thing is to note that the numbers have been doing better over the last few months. It won’t be until the end of year when we can see if numbers continue to hold and the downward trend is ended. We certainly don’t expect the trend to be reversed in any significant way. Buyers and sellers, both, would do well to adjust themselves to the reality of the current market, and expect it to remain this way for the foreseeable future.
As we head into the final quarter of 2009, one factor to keep in mind is the expiration of the first-time homebuyer tax credit. If the expiration is going to have a negative impact on sales, it should be evident in comparing November/December numbers to 2008. The impact of the tax credit thus far is difficult to gauge without knowing what happens when it goes away.
Feel free to thumb your way through the report using the view below. If you think it is valuable, and want to share it with others please do so by clicking on the
You can also download the 2009 3rd Quarter Real Estate Market Report for Fluvanna County and Lake Monticello
2009 3rd Quarter Real Estate Market Report for Fluvanna County and Lake Monticello
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