Posts with tag 'real estate market'

Greater Charlottesville Area 2018 First Quarter Highlights:

• Home sales climbed 13.7% (691) compared to Q1 2017 (608), led by an increase (28.3%) in attached homes.

• Greater Charlottesville median sales price rose to $309,145 (13.8%) compared to this time last year ($271,629).

• The median days on the market in the 1 st Quarter was 70, 11-days lower than in Q1 2017.

• Pending sales increased 8.8% (1,134) compared to this time last year (1,042), as new listings declined slightly (1.7%).

• Inventory of homes for sale declined -13.9%, resulting in 3.5 months supply of inventory compared to 4.3 months supply in Q1 2017.

National O...

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Forbes has published their ranking of the best states in which to do business, and Virginia landed near the top at #5 Best State to do Business. The Commonwealth's high ranking can be attributed to several factors, including Virginia's Gross State Product, which totaled $480 billion as of November 2017. The state's median household income is currently $65,015, and the cost of doing business is just 0.9% above the national average.

Additionally, Virginia's college attainment is an impressive 37%, and the job market has grown 1.4% over the last year. As Virginia REALTORS®'recent economic impact report revealed, Virginia's real estate industry is the state's second largest generator of direct economic activity.

The Old Dominion State has landed other top spots on recent Forbes lists, coming in at...

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Video Courtesy of The Charlottesville Regional Chamber of Commerce, Charlottesville Area Association of REALTORS®, NBC 29, UVA, Charlottesville-Albemarle Convention & Visitors Bureau

Rich with history and infused with energy, it's no wonder Charlottesville has been named the best place to live!*.

A melting pot of business, education, arts, and leisure pursuits, Charlottesville is truly a great place to call home! Charming for both its academic and recreational and leisure opportunities, including hiking, biking, canoeing, gold and other athletics, as well as theater and music, Charlottesville is consistently acclaimed by publications as one of the most livable cities in the country. Outstanding health care facilities, one of the best school systems in the Commonwealth, and an unspoiled countryside ensure a high quality of life.

Read more...  http://www.montaguemiller.com/about-charlottesville-va 

Agents in our Montague Miller & Co, REALTORS® offices are always excited to share why they agree the Charlottesville area is America's #1 community! Plan to visit soon and experience Charlottesville and the beautiful countryside of Albemarle and surrounding counties for yourself! Find an experienced agent who LIVES the area here:  http://www.montaguemiller.com/agent-roster.html

With the overall economy just inching along, some experts are questioning whether the housing market can continue its momentum throughout the rest of the year. People are beginning to ask questions such as:

• Will disappointing economic news adversely impact housing?
• Is affordability a major concern in today's real estate market?
• Are we approaching a new housing bubble?
• Are mortgage standards too tight? Or have they loosened too much?

Freddie Mac, in their April Economic Outlook, addresses the disappointing economic news and what impact they think it will have on housing: