People keep asking how’s the real estate market and I keep replying, INTERESTING! With the release of the Charlottesville Area Association of REALTORS 2nd Quarter 2012 Market Report, we’ve got a bit more data to review. Please click on the link to review the complete report (yes, I’m sharing the full report with you instead of keeping it a secret!).
Take a look at the numbers for yourself. It was great to see more sales in 2012 than 2011. The number of sales and prices were up in some counties and down in others. The report provides a data point in time. Before we can celebrate a market recovery and end of the market correction, we need a pattern of these data points. With the number of short sales and foreclosures remaining high, I don’t look for a quick recovery and tremendous increase in prices. For sellers the good news remains homes, farms and land continue to sell! Not everything sells so price, condition, curb appeal, etc. remain important. For buyers the good news includes a relatively large inventory of properties for sale providing a selection of choices; historically low home interest rates; and prices adjusted down from market highs in past years.
Have questions about the report, your property values, buying or selling a home, farm or land? Let’s talk! Let’s talk isn’t just an invitation – It’s the first step to reaching your real estate goals.