April Homes sales “surged” in April to a 33% gain over 2009 numbers in Charlottesville and Albemarle County (combined). The measurement was the number of pending home sales (homes where contracts have been
written, but not necessarily closed).
The uptick in home sales can largely be attributed to the home buyer tax credit as well as favorable interest rates and a good inventory of homes for sale. The under $500,000 market is the “hottest part” of the market right with certain price ranges appearing to have shifted to a “seller’s market” (less than 6 months inventory).
Today’s homebuyer is incredibly price sensitive. However, condition and location are factors that can determine if a home is sold as well. We all expect that the market will “exhale” somewhat during May, but for April we can truly say what a difference a year makes . April 2010 also marked the highest number of sales monthly in over 2 years. Does this mean “happy days are here again”? Probably not. There are still many challenges in today’s market going forward (short sales and foreclosures to name a few). But for right now all we can say is “what a difference a year makes”. This time last year, buyers and sellers were wondering if the market would ever find any momentum or traction. Right now we can say April 2010 was a great month for home sales and now we need to get back to work.
Jeff Gaffney
Better Homes and Gardens Real Estate III
Chairman & CEO
Exceptional Real Estate Experiences
www.RealEstateIII.com
CRB, CRS, GRI, e-Pro
1045 Carrington Place, Charlottesville, Va 22901
Licensed to sell in Virginia
University of Virginia ’87
Social poster
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