Charlottesville Farms Real Estate Market Report – May 2012
This Charlottesville farms real estate market report will look at the sales of farms in Albemarle County. For the purpose of this report any property over 15 acres will be considered a farm.
May 2011 average list price $891,450.
May 2012 average list price $585,000.
May 2011 average sale price $683,450.
May 2012 average sale price 655,000.
May 2011 median sold price $683,450.
May 2012 median sold price $655,000.
May 2011 %sold/list 76.66%.
May 2012 %sold/list 111.96%.
In May 2011, 2 Albemarle County farms sold.
In may 2012 only 1 farm sold on the Albemarle County real estate market.
1/1/2011 – 5/31/2011, 12 Albemarle County farms sold.
In the same time frame this year 12 farms sold on the Albemarle County real estate market.
In the last couple of years the market for Albemarle County farms and Charlottesville horse farms has been very slow. The absorption rate for these type of properties remains at several years. As a result if you have an Albemarle County farm for sale pricing correctly is crucial. The buyers are in the drivers seat and your Virginia farm will also need to be in perfect condition. At the same time, I think that calls and inquiries for properties with larger acreage has increased but many of the buyers lack urgency. There is a lot of inventory and buyers definately feel that they can wait and the property that they like will still be there.
Copyright 2012 by Pam Dent all rights reserved “Charlottesville Farms Real Estate Market Report – May 2012“.