CAAR Market Report

2010 Mid-Year 

Published by the Charlottesville Area Association of REALTORS® 

Where Are We Now?

The pace of home purchases in the Charlottesville market area showed a significant increase compared to last year at this time, with the exception of the City of Charlottesville. In the first half of 2010, sales (1391) were up 19.2% from the same period in 2009 (1167).The tax credit requiring homes to be under contract by April 30^th and a slowly declining local unemployment rate were two strong influences for this occurrence, along with the knowledge that the first half of 2009 was the slowest six months of sales in our area in recent history.

Commercial Development Marked by Challenges and Opportunities

By Joanne DiMaggio

Take a ride around the multi-county area that makes up Central Virginia, and you will see locales in which commercial development is readily visible. What you may not know, however, is that most of these projects have been in the works for years.