We’ve been doing our Crozet real estate conversations for the past few months; each time we do them we tend to have some interesting data-based-conversations. This month, a friend asked me about median home prices in Crozet.
Looking at real estate data is always fun, so I pulled a bit of information from the Charlottesville MLS and came up with this (* “Crozet” for this purpose = Brownsville + Crozet Elementary school districts):
- Red line is the number of single family detached home sales in Albemarle County.
- Green line is the number of single family detached home sales in Crozet.
- Blue bars are the median sales prices for single family detached homes in Crozet.
- Thanks to Keith for the help with the graphs.
Looking at the above in context of national trends
Short story for Crozet
- Median home prices peaked in 2008
- 2015 had 219 single family detached home sales; the last time we hit this number was 2005 with 215 sales.
- Volume of homes sales in Crozet has been increasing for four years … and 2016 looks to increase again.
What does this mean if you’re buying or selling a home in Crozet?
- I’ll let you know mid-way through 2017 what this data means (I like hindsight; it’s hard to see out of the eye of the storm), but I’ll start with this – if you’re looking to buy this year, buy well and buy smart. You make your money when you sell when you buy.
- If you’re looking to sell, inventory remains low. Price and prepare well.
- If you need help buying or selling, please ask me if you have questions.
And another look at the above data
Here’s the data, if you’re interested; if I’ve made a mistake, please, please let me know.