Home Sales Dismal in Charlottesville and Albemarle County

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Updated: 8:42 AM Mar 6, 2009 Home Sales Dismal in Charlottesville and Albemarle County According to recent MLS numbers, the amount of home sales in Charlottesville and Albemarle County are down. Posted: 4:17 PM Mar 5, 2009 Reporter: Mark Tenia Email Address: mark.tenia@wcav.tv

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March 5, 2009

According to recent MLS numbers, the amount of home sales in Charlottesville and Albemarle County are down.

Some local realtors say things could be even worse than they seem. According to the numbers, year to year, the amount of sales in the city and county were down 28%.

Some realtors say there are a lot of foreclosures happening now that can't be tracked.

"There are apparently a lot of foreclosures that are happening off the MLS, and the MLS is where we draw the bulk of our information from," explains Jim Duncan, a Realtor. "So the volume of activity is probably much higher than we actually know."

Duncan says that people should wait to sell their homes if they can. Otherwise, he suggests selling it for less than you think it's worth in order to compete.

Latest Comments

Posted by: Rusty Location: Shenandoah, VA on Mar 6, 2009 at 02:33 PM

Is anyone surprised? I'm waiting for the bottom to fall out, then I'm going to buy Forrest lakes and bulldoze into farm land. Anyone want to help run a combine?

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