Charlottesville home values are based on trends and we’ve been discussing the Charlottesville Market for years.
There is a consensus that the real estate market is improving, and the below chart, of Albemarle sales, shows that, for May through September, 2012 has certainly improved over 2011. We hear this in the news that the year over year numbers are better.
There’s an interesting twist, look at the October and November numbers: 77 sales in Oct 2012 vs 88 sales in Oct 2011, and 68 sales in Nov 2012 vs 79 sales in Nov 2011. So, for Oct and Nov, we are down, year over year.
Many people will point out that this was during the election, or a result of the election, but I am not convinced.
From previous posts, I have mentioned that Oct 2010 appeared to be a bottom (forming from the charts in 2009), but it will be interesting to see if we re-test that area. See Blue Chart Below, posted April 2012:
Now the total for the year is still up by 103 sales, which is fantastic to see. Lets keep an eye on the trend to really see if the market has bottomed and is moving upward.
My clients know that I overanalyse things, but I do feel it is good to get more than one perspective on things. What’s yours?