Charlottesville Real Estate Trends

Understanding the real estate market is critical to being a great Realtor. We at Gayle Harvey Real Estate, Inc. take this very seriously and constantly monitor the market in order to give our clients the best advice possible. Rather than hold this information for our own purposes, we have decided to share it with you. While there are many statistics available on the county level, there is a need for them at a more granular level, where we work every day. Niche markets sometimes don't follow the general real estate market and we/you need to know this!

Since we are taking the statistics down to such a small scale, keep in mind that if there has been a sale in a particular category, it might possibly be the only sale and therefore you cannot give much credence to using that one sale to determine the sales price for another property. We are mostly looking at unique properties and their sales trends although we do have statistics for a few of the larger developments in the Charlottesville area that tend to have more comparable homes. The subdivisions that we track are Glenmore and Old Trail in Albemarle County and Spring Creek in Louisa County.

The niche markets that we cover are luxury homes, which we considered to be homes priced over $800,000 and historic homes, which we consider to be homes built prior to the 1900's. Our farm stats cover any residential property in which the Realtor includes a farm improvement as an important part of the property. The land stats are just raw land without residential structures. All data for the stats are taken from the Charlottesville Area Association of Realtors and are updated on the first of each month. The Realtors Association generally allows ten days after the end of the month for Realtors to enter sales from the previous month. Periodically you will notice that our numbers differ, and it is usually because of this timing.