According to the Charlottesville Area Association of Realtors (CAAR) Mid-Year Report, which was released yesterday, home sales have improved slightly compared to the 4th quarter of 2008, but are still below the mid-year numbers of last year.
During the first six months of the year, 1,131 homes were sold in the Charlottesville area. This number was down 28 percent from 2008. From January until June, Albemarle County home sales were down 15.6 percent (from 513 to 433 sold) and the City of Charlottesville saw a decrease of 35.2 percent (310 to 201 sold). Orange County had the period’s biggest decrease: 47 percent.
Home prices also fell considerably. According to the report, the declining prices, by 20 percent or more, has helped the slight increase in sales.
In the city, the median sale price is $247,000, while in the county, the median is reported at $281,440.
Click here for the complete report.
