Crozet Real Estate Market Update – 1 September 2011

I was all set to throw several charts up after the fold, but when I started checking the data in our new beta software, it wasn’t right. Darn it.

So … the Crozet real estate market right now boils down to this:

– New construction in Crozet is doing quite well.

– Existing homes are competing with new construction, buyers can be, and are being choosy and are often choosing new construction.

– If you’re looking to sell our home in Crozet: Price.It. Well. My advice since 2008 remains true:

– Advice for buyers – do your due diligence, be patient, save your money in the meantime.?

– For Sellers – as I said last year – do not attempt to chase the market down. Beat it down. (ask me for advice)

Briefly:

– Homes under contract are about the same as last year at this time.

– New listings coming on the market are down markedly; this is very good – the fewer homes on the market, the better chance for existing inventory to be sold.

– Sold homes are up slightly.

Download reports:

Crozet Real Estate Market Insight (pdf)

Crozet real estate market detailed report (pdf)


* For these reports, “Crozet” is defined as “the 22932 zip code” whereas in the past (and when I’m searching for homes and describing Crozet for clients, I describe “Crozet” as “The Brownsville and Crozet Elementary School districts.

As always, when I write about the Crozet real estate market, I disclose that I am a real estate agent. I live in Crozet. I write these to inform and educate. If you have any questions, please contact me. Heck, if you want to search for homes for sale in Crozet, go here.

** Days on Market and Sold to Original List Price ratio are so easily gamed and manipulated that they are *wrong*. Sold to OLP ratio *demands* individual analysis to account for re-lists, expired and re-lists, etc. Average is probably closer to 80%. Some are 100%, some are $60%.

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