Charlottesville Home Prices Take October Swoon

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Updated: 11:05 AM Dec 6, 2011 Charlottesville Home Prices Take October Swoon A company that tracks national real estate prices reports Charlottesville homes dipped in value in October. Posted: 10:54 AM Dec 6, 2011 Reporter: Jim Hanchett Email Address: Jim.Hanchett@Newsplex.Com

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December 6, 2011

The sales price of a home in the Charlottesville area slid by 5 percent in October compared to the same month last year, according to a new report released Tuesday.

CoreLogic, a company that tracks real estate trends, based that figure on an analysis of real estate transactions. Nationally, CoreLogic reports sales prices tumbled 3.9 percent in October compared to October, 2010.

Charlottesville real estate has generally done better at holding its value than property in many other cities and the region hasn't seen the dramatic price drops common in other parts of the country.

CoreLogic reports on a month-over-month basis, Charlottesville prices dropped 1.3% in October. The company predicts prices nationally will remain flat through 2013.

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Posted by: Reason Location: C'ville on Dec 6, 2011 at 12:42 PM

Maybe because there are no jobs in Charlottesville unless you are retired/discharged/active military looking to be an NGIC spook.

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