8/7/2019 Nest Realty Charlottesville's February 2011 Market Report

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Overall sales for Central Virginia increased slightly in February 2011 as compared to last February. Single Family sales weresteady with 91 sales - up one from last year. Attached and condo sales were relatively steady - dropping slightly from 26 t

24. In addition, inventory levels decreased slightly - down 2% for single family homes and down 12% for attached/condominiums. Therefore, Months of Inventory dropped from February 2010 levels.

Central Virginia / Charlottesville Market Trend: Market-Wide

While the overall sales trend for the Central Virginia MSA continues on a downward trend line, February 2011 saw a slightimprovement in market health - inventory was down and Months of Inventory was also down. However, it seems as thoughbuyers are being attracted to lower priced homes - median prices are down quite significantly from last February.

3 Year Trend

AverageList Price

AverageSale Price

MedianSale Price

Avg Dayson Market

TotalSales

TotalInventory

Months ofInventory

Feb 2011 $313,998 $295,907 $263,000 124 91 1605 17.63

Change -17% -16% -12% -11% 1% -2% -3%

Feb 2010 $376,203 $352,610 $299,500 140 90 1633 18.14

Change -14% -15% 12% -3% 17% -12% -25%

Feb 2009 $439,477 $413,988 $267,000 145 77 1864 24.2

SingleFamily

AverageList Price

AverageSale Price

MedianSale Price

Avg Dayson Market

TotalSales

TotalInventory

Months ofInventory

Feb 2011 $257,257 $244,979 $193,000 255 24 478 19.91

Change 15% 15% -9% 113% -8% -12% -5%

Feb 2010 $224,001 $213,303 $211,500 120 26 546 21

Change -23% -28% -19% -12% -19% -17% 3%

Feb 2009 $290,456 $295,551 $262,188 137 32 655 20.46

Attached/Condo

Three Year Trend of Sales Activity (Number of Sales)

MSA (Albemarle, Charlottesville, Fluvanna, Greene, Louisa, and Nelson)

0

50

100

150

200

250

300

350

400

Mar-08 Jun-08 Sep-08 Dec-08 Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10

Feb 2011

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Albemarle County

MedianSale Price

Avg Dayson Market

TotalSales

TotalInventory

Months ofInventory

Feb 2011 $267,500 164 55 854 15.6

in Fe

br

ary:Change -15.75% 8.61% -1.79% -11.04% -8.98%

Feb 2010 $317,499 151 56 960 17.14

Charlottesville City

MedianSale Price

Avg Dayson Market

TotalSales

TotalInventory

Months ofInventory

Contracts WritteFeb 2011 200000 259 11 296 26.9

in Fe

br

ary:

Change -20.40% 250.00% -8.33% -17.32% -9.82%

Feb 2010 $251,250 74 12 358 29.83

Fluvanna County

MedianSale Price

Avg Dayson Market

TotalSales

TotalInventory

Months ofInventory

Contracts WritteFeb 2011 $213,950 87 12 316 26.33

in Fe

br

ary:

Change 1.88% -29.27% -7.69% -8.14% -0.49%

Feb 2010 $210,000 123 13 344 26.46

Greene County

Median

Sale Price

Avg Days

on Market

Total

Sales

Total

Inventory

Months of

Inventory Feb 2011 $249,900 90 13 213 16.38

in Fe

br

ary:

Change -4.42% -18.92% 30.00% 8.67% -16.43%

Feb 2010 $261,450 111 10 196 19.6

Louisa County

Median

Sale Price

Avg Days

on Market

Total

Sales

Total

Inventory

Months of

InventoryContracts Writte

Feb 2011 $241,300 111 9 202 22.44

in Fe

br

ary:

Change -12.89% -7.50% 12.50% -16.18% -25.50%

Feb 2010 $277,000 120 8 241 30.12

Nelson County

MedianSale Price

Avg Dayson Market

TotalSales

TotalInventory

Months ofInventory

Contracts WritteFeb 2011 $275,000 154 15 355 23.66

in Fe

br

ary:

Change 12.24% -3.75% -11.76% -6.08% 6.43%

Feb 2010 $245,000 160 17 378 22.23

Feb 201