Charlottesville Real Estate 2012 2nd Quarter Market Report

Charlottesville Real Estate Market

Our Charlottesville Area Association of Realtors has just released the latest report showing stats for sales in our area, 2012 2nd Quarter.

This report comes out Quarterly and gives us a good idea of the current Real Estate Market in the greater Charlottesville Area. Remember to discuss specific market conditions with your Realtor.

2nd Quarter 2012 Highlights:

  •  Overall Q2 sales in Greater Charlottesville are up 8.6% over the second quarter last year,at a total of 733.
  • The City of Charlottesville has the highest year-over-year increase in sales in Q2, up 29.7% over Q2-2011.
  • Albemarle County and the City of Charlottesville have experienced the highest year-over-year increases in median sale price for the quarter, up 5% and 3.3% respectively.

2nd Quarter 2012 Sales & Contract Activity

There were 733 homes sold in the Charlottesville area in the second quarter, which was up 8.6% (+58 sales) from the second quarter last year.
The City of Charlottesville (+29.7%) had the largest year-over-year increase, while Fluvanna (+17.3%), Albemarle (+9.6%), and Louisa (+5.4%) also showed annual gains for the quarter. Nelson (-22.2%) and Greene(-25.9%) experienced declines from Q2-2011 levels.
Q2 sales of detached homes in the area were up 8.3% from Q2-2011 to 572. There were 161 attached homes (condos andtownhouses) sold, representing a 9.5% increase over the 147 attached homes sold in Q2-2011…

Important Facts

Only 132 active listings are foreclosures or short sales, down 24.1% from the 174 that were active at the end of Q2-2011.
These distressed properties account for just 5.8% of the active market, down from the 6.6% share at this time last year. The 70 active foreclosure listings heading into July represent a 12.5% decrease from this time last year and the 62 activeshort sales were 35.4% lower…
read more below:

Charlottesville 2012 2nd Quarter Real Estate

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