Charlottesville Real Estate Market Ranked #6 in Nation

by staff on October 3, 2011

The latest issue of BuilderOnline magazine has an analyzation of the national housing market, taking into account the number of new homes and sales midway through 2011.  Charlottesville ranked #6 in their Top 20 poll. 

New home sales made up of attached (townhome and condo) homes accounted for 16% of all sales as of June 2011.   The number of sales from foreclosures and real-estate-owned properties rose to almost 20% of the sales (effectively removing some of the older inventory from the market).

And one statistic that caught our eye seems to reflect a troubling aspect for the current state of financing new home construction.  They say that the new homes average mortgage size dropped from $289,593 in May 2010 … to $208,776 in May 2011.

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