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The sales trend in Central Virginia is on a slight downward decline. Total May 2011 sales in our MSA were almost identical to sales in May 2009. Historically, sales peak in the spring and summer months in our region. We expect this trend to continue this year. The combination of low interest rates and declining prices have motivated some buyers to purchase in 2011. We are hopeful that there will not be as steep of a drop in sales during the second half of 11 like there was in 10.
Single Family
Attached / Condo
Average List Price May 2011 Change May 2010 Change May 2009 $219,547 2% $216,192 -2% $219,874
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May 2011
Albemarle County
Median Sale Price May 2011 Change May 2010 $279,572 3.40% $270,375 Avg Days on Market 91 -20.18% 114 Total Sales 118 -17.48% 143 Total Inventory 1273 2.99% 1236 Months of Inventory 10.78 24.77% 8.64
Charlottesville City
Median Sale Price May 2011 Change May 2010 200000 -15.79% $237,500 Avg Days on Market 96 9.09% 88 Total Sales 30 -34.78% 46 Total Inventory 407 -4.68% 427 Months of Inventory 13.56 46.12% 9.28
Fluvanna County
Median Sale Price May 2011 Change May 2010 $183,500 -8.25% $200,000 Avg Days on Market 140 68.67% 83 Total Sales 24 -31.43% 35 Total Inventory 379 -2.57% 389 Months of Inventory 15.79 42.12% 11.11
Greene County
Median Sale Price May 2011 Change May 2010 $265,264 15.84% $229,000 Avg Days on Market 65 -15.58% 77 Total Sales 19 -9.52% 21 Total Inventory 244 3.83% 235 Months of Inventory 12.84 14.75% 11.19
Louisa County
Median Sale Price May 2011 Change May 2010 $140,350 -38.58% $228,500 Avg Days on Market 105 -26.06% 142 Total Sales 8 -46.67% 15 Total Inventory 250 0.81% 248 Months of Inventory 31.25 89.05% 16.53
Nelson County
Median Sale Price May 2011 Change May 2010 $204,500 -38.54% $332,750 Avg Days on Market 159 6.00% 150 Total Sales 10 -16.67% 12 Total Inventory 372 -6.53% 398 Months of Inventory 37.2 12.18% 33.16
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