Albemarle County Farms Real Estate Market Report – January 2012

Albemarle County Farms Real Estate Market Report – January 2012

For the purpose of this report we will consider properties over 15 acres to be an Albemarle County farm.

January 2011 average list price $10,900,000.
January 2012 average list price $1,172,250. 

January 2011 average sale price $9,150,000.
January 2012 average sale price $1,112,500.

January 2011 median sold price $9,150,000.
January 2012 median sold price $1,112,500. 

January 2011 %sold/list 83.94%.
January 2012 %sold/list 94.90%.

January 2011, 1 Albemarle farm sold.
January 2012, 4 Albemarle farms sold. 

Last year Albemarle farm sales were up considerably over 2010.  However there is still way too much inventory.  At the January rate of sales the absorption rate is 21.50 months.  Some segments of the Albemarle County real estate market have seen a big upsurge in activity.  Contracts are being written and homes are selling, particularly in the $200,000 – $450,000 price range.  Sales of the higher priced homes and farms have not picked up at the same rate.  Hopefully we will be able to get some of this inventory sold down this year.

The above figures are from the mls and while they are presumed to be correct they are not guaranteed.

Copyright 2012 by Pam Dent all rights reserved “Albemarle County Farms Real Estate Market Report – January 2012“.