Are luxury homes selling in the  Charlottesville area?

First, the common definition of a luxury home is to be within the top 10% of home listings by price--in the Charlottesville area, in order to establish a baseline, we can say $1,000,000 or more qualifies as a "Luxury Home".

* There are currently over 150 homes priced above 1 million dollars in Albemarle County, alone.
Prices range from $1,000,000 to $17,000,000.

* Since January 1st of this year, 12, million dollar plus homes have sold, with prices
ranging from $1,065,000 to $2,630,000

----------------------------------------------
The following are the links to the selected listings.
http://caarmls.com/CAARReports/ListitLib/show_report.aspx?ID=6486962602

The difference between list and sales price was = (-8.3%)
Average Days on Market (DOM) = 279
Compared to active listings DOM = 205

Compare this to the 13 homes that sold between January 1st, 2009 to May 7th, 2009
with prices ranging from $1,100,000 to $4,750,000.
Average DOM for these sold properties was 155 days.

So, about the same number of listings have sold, but the range of prices $2 million dollars less.  And, the total number of luxury homes on the market has dropped from over 250 this time last year, to its present level of 150. 

But, the prices of many of these homes is greater--many over the $10 million mark.

Million dollar, luxury homes are selling in the Charlottesville area.
For more detailed information please visit our sponsored site specializing in the luxury home buyer and seller.

Thank you.

Sponsored by:  Luxury Charlottesville Homes   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

                           _
                       _| |___
   ¸...¸       _  _/          /\____
,·´º  o`· , /__/  _/\_   //____/\_\
``)¨(´´ |   | [1] | | [1]|  | |[1] || ||±±±±||
¸,.-·°°´   ¸,.-·~·~·-.,¸   `°°·-. :º°
"Turning Your Home Dreams into Reality"

"Licensed to Sell Real Estate in Virginia

Each Office Independently Owned and Operated"