Jim Duncan's Market Report market update

CHARLOTTESVILLE 22901
Sunday May 9, 2010
Real-Time Market Profile Trend
Median List Price THIS WEEK
$ 275,000 The median condo/townhome price
Asking Price per Square Foot $ 162 in CHARLOTTESVILLE 22901 this
Average Days on Market 185 week is $275,000.
Percent of Properties with Price Decrease 44 %
Percent Relisted (reset DOM) 36 %
Percent Flip (price increased) 24 %
Median Size (sq ft) 1,280
Median Number of Bedrooms 2.2 Inventory has been lightening lately
Median Number of Bathrooms 2.2
and the Market Action Index has been
trending up. Though days-on-market is
Market Action Index* Cool. Buyer's Market 25 increasing, these are mildly positive
* see below for details on the Market Action Index indications for the market.

PRICE
The market for this zip code continues
its bounce again this week. We're a long
way from the market's high point so
watch the Market Action Index to
predict how long this trend will last.

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 25 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 $ 379,900 2,412 3.0 3.0 4 6 0 3 134 Most expensive 25% of homes

2 $ 319,500 1,784 3.0 3.0 5 6 0 4 201 Upper-middle 25% of homes

3 $ 264,450 1,986 3.0 3.0 null 6 0 6 119 Lower-middle 25% of homes

4 $ 179,000 1,208 2.0 1.0 23 7 0 2 274 Least expensive 25% of homes

Jim Duncan | www.RealCentralVA.com | 434.242.7140 1

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