A quick Snapshot of the greater Charlottesville Area:
Below is a 5-year chart of our entire market. Notice the Highs and Lows. We have a very cyclical market. We are very Busy in Spring (starting in March) and peak in mid Summer, declining into Fall/Winter.
Note: the Trend lines on Pending Contracts on the below historic charts
(This Chart Shows the Real Estate Peak and Bust that was felt across the Nation)
Note: Where did we break the year over year downtrend? (note higher high in July 2009)
If you watch Charts like I do you see a definite trend change in the above chart. This is 6 years of data and you will notice that the peaks started to trend upward, and more importantly, the valleys started to trend upward, too. In the summer of 2006 we saw a lower high, a signal that the top was being broken, then we saw a higher low, a signal that the bottom was in place. As the chart is concerned, we have broken trend summer of 2010.
The Charlottesville home market (sales) is seasonally high during the Summer and low during the Winter. This has to do with many factors including the fact that the University of Virginia is a major employer and also the influx of students to our area. Also note the lower highs in the Summer Months (year over year). My clients receive various trend analyses of the market.
Note: The overall trend of DOM (Days on Market) was in a downward slope (broken Oct 2006) a clear signal… Also note the Higher Highs and Lower Lows on the number of units sold. This trend is critical and my clients are advised of this.
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