Jim Duncan's Market Report market update

CHARLOTTESVILLE 22903
Sunday May 9, 2010
Real-Time Market Profile Trend
Median List Price THIS WEEK
$ 220,450 The median condo/townhome price
Asking Price per Square Foot $ 190 in CHARLOTTESVILLE 22903 this
Average Days on Market 200 week is $220,450.
Percent of Properties with Price Decrease 51 %
Percent Relisted (reset DOM) 43 %
Percent Flip (price increased) 28 %
Median Size (sq ft) 1,279
Median Number of Bedrooms 2.7 The Market Action index has been
Median Number of Bathrooms 2.0 trending down lately, while days-on-
Market Action Index* Cool. Buyer's Market 21 market is climbing, providing mostly
* see below for details on the Market Action Index bearish signs for the market.

PRICE
This week prices in this zip code
bumped up a bit but the trend of recent
weeks is generally downward. A pickup
in demand will be reflected in the
Market Action Index, so watch that
chart to try to identify a trough in the
market.

The Market Action Index answers the question "How's the Market?" By measuring the SUPPLY AND DEMAND
current rate of sale versus the amount of the inventory.
Local conditions are currently in the
Buyer's Market zone (below 30), though
not strongly so. The 90-day Market
Action Index stands this week at 21 so
buyers should expect find reasonable
levels of selection.

Index above 30 implies Seller's Market conditions. Below 30, conditions favor the
buyer.
QUARTILES
Characteristics per Quartile Investigate the market in
Med. Ab- Avg.
quartiles—where each quartile is 25%
Quartile Median Price Med. Sqft Bed Bath Age Inven. New sorbed DoM of the homes listed.

1 $ 644,750 2,673 3.0 4.0 1 26 1 1 232 Most expensive 25% of homes

2 $ 299,000 1,406 3.0 2.0 5 26 0 0 207 Upper-middle 25% of homes

3 $ 185,000 1,120 2.0 2.0 22 27 1 1 193 Lower-middle 25% of homes

4 $ 149,500 940 2.0 2.0 38 27 1 2 173 Least expensive 25% of homes

Jim Duncan | www.RealCentralVA.com | 434.242.7140 1

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