Housing Stats for July 2007: Major Decreases in Nelson, Major Increases in Louisa & More

Today I compared June 2007 & July 2007 housing stats for real estate transactions by county in our area, and saw some interesting changes.

The largest decreases were in Nelson County:

• Average Sale Price in Nelson decreased by $164,088 from June 2007 to July 2007.
  
• Median Sale Price in Nelson decrased by $135,000 from June 2007 to July 2007.

Nelson County has experienced rapid appreciation for second homes/vacation homes and therefore the market is adjusting to the second home level of interest as well as competition.

The largest increases were in Louisa County:

• Average Sale Price in Louisa increased by $50,398 from June 2007 to July 2007.
  
• Median Sale Price in Louisa increased by $88,490 from June 2007 to July 2007.
  
• Average Days On The Market in Louisa also increased by 60 days from June 2007 to July 2007.

Louisa is booming with its Zion Crossroads shopping complex with a new Best Western hotel, and new restaurants coming soon, as well as a new supercenter Wal-Mart, a Home Depot, more office and retail space, and possibly an outlet mall as well. There are also new subdivisions popping up around the county.

Fluvanna County had two large increases:

• Average Days On The Market increased by 32 days from June 2007 to July 2007.


• Median Sale Price increased by $48,100 from June 2007 to July 2007.

Albemarle County had one large increase and one large decrease:

• Average Sale Price increased by $42,696 from June 2007 to July 2007.


• Number of Houses Sold decreased by 27 from June 2007 to July 2007.

The City of Charlottesville had three large decreases:

• Average Sale Price decreased by $41,085 from June 2007 to July 2007.


• Median Sale Price decreased by $67,000 from June 2007 to July 2007.


• Average Days On The Market decreased by 25 days from June 2007 to July 2007.

Madison County had one large increase:

• Average Days On The Market increased by 73 days from June 2007 to July 2007.

Orange County had one large decrease:

• Average Sale Price decreased by $44,610 from June 2007 to July 2007.

Greene County had one large decrease:

• Average Days On The Market decreased by 33 days from June 2007 to July 2007.

Click this link to view the June 2007 housing stats:

http://move2va.blogspot.com/2007/07/housing-statistics-for-june-2007.html

Here are the July 2007 housing stats. They will help show current values in central Virginia. Note that Median Selling Prices may be skewed by high and/or low prices:

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Madison County, Virginia Housing Statistics, July 2007:
Number of Houses Sold: 5
Average Selling Price: $288,780
Average Days on the Market: 96
Number of Houses on the Market: 79
Median Selling Price: $213,000

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Greene County, Virginia Housing Statistics, July 2007:
Number of Houses Sold: 17
Average Selling Price: $ 279,282
Average Days on the Market: 72
Number of Houses on the Market: 207
Median Selling Price: $248,000

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Orange County, Virginia Housing Statistics, July 2007:
Number of Houses Sold: 9
Average Selling Price: $270,978
Average Days on the Market: 132
Number of Houses on the Market: 179
Median Selling Price: $281,000

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Louisa County, Virginia Housing Statistics, July 2007:
Number of Houses Sold: 8
Average Selling Price: $307,386
Average Days on the Market: 127
Number of Houses on the Market: 276
Median Selling Price: $303,690

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Fluvanna County, Virginia Housing Statistics, July 2007:
Number of Houses Sold: 44
Average Selling Price: $300,237
Average Days on the Market: 107
Number of Houses on the Market: 356
Median Selling Price: $283,000

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Nelson County, Virginia Housing Statistics, July 2007:
Number of Houses Sold: 15
Average Selling Price: $338,927
Average Days on the Market: 93
Number of Houses on the Market: 315
Median Selling Price: $425,000

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Albemarle County, Virginia Housing Statistics, July 2007:
Number of Houses Sold: 182
Average Selling Price: $427,936
Average Days on the Market: 83
Number of Houses on the Market: 1,019
Median Selling Price: $326,500

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City of Charlottesville County, Virginia Housing Statistics, July 2007:
Number of Houses Sold: 69
Average Selling Price: $299,144
Average Days on the Market: 49
Number of Houses on the Market: 408
Median Selling Price: $253,000

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For more information on trends in our area, email me at kehoe@move2va.com or call me 24/7 at 1-800-818-7629.

Karen
www.move2va.com