Our mid-year market report from the Charlottesville Area association of Realtors has just been released.
See attached report and let me know if you have any questions.
One note about the report:
The tax credit had a significant impact in helping the numbers look good, but moving forward the tax credit will likely have a negative effect on the numbers. Essentially, the tax credit moved a lot of sales in the April, May and June that would have normally occurred in July, August and September. The market is still soft and still has too much inventory, so we encourage you to avoid hyping the 19% increase in sales increase in this report. In other words, it is nice to have some really good news, but we need to be realistic about the challenging market we have.