The latest home sale numbers show the market in Charlottesville may be getting back to normal.
Dave Phillips, CEO at the Charlottesville Area Association for Realtors says there are 1200 local real estate markets all over the country, and while they do trend together, it does not mean what goes on in one market will be true of Charlottesville.
Judy Savage is a Broker and Owner of Remax Assured Properties. She says there are areas of the country that are very depressed and their housing markets are really hurting, but that just is not happening in Charlottesville.
Savage says it's a great time to buy. She tells her sellers that buyers are cherry picking right now. Her advice to sellers is to be realistic in pricing and realize you are in competition with a lot of homes.
Phillips says, "The market in Charlottesville is actually very healthy. We aren't seeing the record sales we saw in 2005 and 2006, but those were actually numbers that were not sustainable and this market is very balanced and stable."
Savage says at the end of last year she didn’t feel too good about the market, but the outlook looks rosy as far as she can see.
Both Savage and Philips predict home prices will stay where they are for a while.