2011 continues to fly by with over half the year gone! TheCharlottesville Area Association of REALTORS released their mid-year report today. The report shows pretty much what I’ve been saying all along. Sales in the first half of 2011 were down 5.9% from 2010. In 2010 we had the 1stTime Home-buyer tax credit that pushed many buyers to purchase during the first half of the year. Perhaps this year will be more balanced. At RE/MAX Assured Properties we’re seeing the sales continue into July. Please take a look at the report which continues interesting data (at least to me!) broken down by counties. I feel the showdown inventory of short sales and foreclosures will continue to affect the Central Virginia real estate market for a while. Our new economy continues to affect the housing market. It would be great to see a more balanced market between buyers and sellers (currently Central Virginia has a buyer’s market with more sellers than buyers). This report shows a wee move towards a more balanced market. Let’s see what the future holds.
Most people want to know what’s going on in their neighborhood; where they want to buy or sell; etc. If you have real estate questions, I’m here to help, so let’s talk!