Forest Lakes 1st Quarter 2010 Market Snap-Shot

Detached Single Family Homes

** There are currently 33 detached, single family homes on the market in Forest Lakes.
Prices range from $248,900 to $699,000. 
Average Days On Market = 115
Price per sq ft = $159.92

Follow this link to the MLS listings page:
http://caarmls.com/CAARReports/ListitLib/show_report.aspx?ID=6486752483

** Since January 1st of this year, only 1 single family home has sold in Forest Lakes.
Listed for $283,000 and sold 277 days later for $245,000
Price per sq ft = $185.05

Follow this link to the MLS listings page:
http://caarmls.com/CAARReports/ListitLib/show_report.aspx?ID=6486752486

Attached Homes/Condos/Townhomes

** There are currently 13 Attached Homes/Condos/Townhomes on the market in Forest Lakes.
Prices range from $169,900 to $319,900
Average Days On Market =167
Price per sq ft = $144.60

Follow this link to the MLS listings page:
http://caarmls.com/CAARReports/ListitLib/show_report.aspx?ID=6486752496

** Since January 1st of this year 2 condos have sold in Forest Lakes.

Follow this link to the MLS listings page:
http://caarmls.com/CAARReports/ListitLib/show_report.aspx?ID=6486752500

Up 'till now, Forest Lakes had been spared from the worst that this economic crisis had brought to the rest of the nation, but now, even here in our beautiful north Charlottesville enclave, we have 3 REO properties and 3 short sales in the mix.

Our market times are still increasing and our price per square foot is decreasing.

So, my advice to sellers: be aggressive in your pricing.

My advice to buyers: it's so important to buy low--and what better market to do THAT in, than NOW!

Brought to you by: Forest Lakes Properties and

Fulton W. Gaylord--Assoc Broker, SRES, ABR, e-Pro
Authorized HUD Representative, Certified REO Specialist
Keller Williams Realty
1885 Seminole Trail, Suite 100
Charlottesville  VA  22901
434-220-2228

Fulton@KW.com

"Licensed to Sell Real Estate in Virginia

Each Office Independently Owned and Operated"