Charlottesville Area Association of REALTORS Year End Report

Thanks to Charlottesville Area Association of REALTORS for the following year end report:

The results in our local market are in line with national figures. Home prices have remained steady andpockets of value are still attractive for buyers. The gradual float down of listing inventory and thestability in Days on Market all support the move towards a sustainable and saleable market. For now,we will continue to watch the inventory of homes for sale and the number of foreclosures coming intoour local market. If we see inventory levels continue to decline and the pace of foreclosures stayssteady, we can expect prices to begin a gradual rise. If inventory climbs again and the regionaleconomy and loan availability both remain stagnant, there is limited opportunity for growth in ourhousing sectors.Price sensitivity is still a key factor in this market and if you plan to sell a home in 2011, be sure tohave a REALTOR® prepare a comparative market analysis (CMA) so that you can price it to sell. And,if you are looking to buy, a REALTOR® can help you understand the current market and evaluateyour options.

To read the complete report click on this link: http://goo.gl/K68Vw

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