Shifting market data, anecdata in Charlottesville and qualifications July 2025 comment from Jim

I get on the market like that. Look at my new e-bike! I have had it for a few weeks now and I have already done about 40 miles to go to meetings, shows, coffee and around Charlottesville. My journeys are all less than 4 or 5 miles, with one by 7 because I had fun to explore.

We have hills, and although I can do the hills, on days when it is 95 ºF that has a little help, is not a bad thing.

Also: more people on e-bikes and more protected cycle paths, please. Related: Charlottesville’s e-bike Leenbibliotheekand the The e-bike lottery of the city is now open.

Charlottesville/Albemarle -marktlook

There are a few things that I follow to feel and know the market best and to locate some of those thoughts and data for us.

Last month I wrote a bit about Dom (Days on the Market).

July brings a few anecdotes and more data.

• “Now that there is a little inventory, the only remaining buyers are suddenly picky”
• “Yesterday I showed seven houses to a buyer to a buyer and eight to another buyer today. I haven’t done that for years.” “We think of the next steps and would like to receive e -mails, so that we can get a feeling for sales and price fall period lines.”
• We currently have a more active inventory on the market than we have seen in years.
• “I am happy that I have not waited for rates or prices to buy; we have been home for two years and we are happy.”

Days on the market

• At the moment, the active resale Mediaan Dom for single family + attached houses (63) in the city is 57. In anticipation (44), 17. Primary cases. Good now, active resale median Dom for a few family + attached houses (207) in Albemarle County is 44. Pending (137) is 19. Price material.

What do we look at here?

Looking at resale single Family + attached houses in Charlottesville and Albemarle.

• Contracts have risen a bit.
• Almost half of the houses mentioned were under contract between April 1 and June 30.
  • If you are a seller on the market for 30 days, I would say that that is not the end of the world; We are in a different market.
  • Price is of the utmost importance. Price on the right, and you have a much better chance of efficiently contracting.
• Broadly speaking, the median days on the market rise. That’s okay.

When I do market analyzes for customers, I often use a list-to-date ratio to help decisions and thinking.

Why I don’t use List-to-Sale Ratio for broad stories as I wrote this month:

• It is too wide of a statistics to gauge the market reliably, because, to make it a really relevant number, I should refine so much that it is no longer wide.
• Without digging in the data to see the actual days on the market, I may be able to record a characteristics that have been mentioned three times in the past nine months or some houses that have been so long that they skew the data. I am looking for useful insight.

Sellers help to drop anchors: a renewed skill.

For brokers we rediscover skills that we may have had atrophy for a few years. Buyers and sellers help to deal and understand the shift, and feel as confidently as possible that they make the right decision is what good do. These are the some of the soft skills that I have worked to sharpen.

• Buyers are being patient.
• Sellers feel impatient.

Waiting has costs – what, as I say, is fine – as long as you understand the costs.

–

I have a working theory that makes sense when I say it out loud that 5 days on the market really means 1 or 2, and 9 days versus 5 days on the market is a much bigger difference than it seems.

Part

I am not qualified.

But.

I was homebuyer for the first time. And I am married. And I have had children who went to university. And I have grandchildren, and those grandchildren live close enough that we often see them.

Much of what I do is offer life advice.

Am I qualified? Maybe. All I do is tell stories and make the effort to tell those stories at the right time, in the right context, to share experience and knowledge, and perhaps also to make my customers feel that they are not only in the process and that I have seen similar things.

A large part of real estate is a balancing act of data + psychology and empathy.

Just in time.

It is frustrating for all of us.

You make an offer on 3 September with a closing date of 27 October.

• Submit a loan application within 5 days after contract
• Home inspection within 12 days
• Loan obligation and assessment are done within 33 days
• You should be in the quiet period, and you are.

But we are still waiting for the survey and the title work: both only become a few days prior to closing, and if it is more than 5 days, we are lucky. (Related: should I receive a survey?)

Title and survey issues can create headache, anxiety and last -minute negotiations – in a word, problems.

And so it is. We (lawyer/title) can order title work with ratification and we can order the survey at the same time. We don’t. Surveyors and lawyers (in this case) do not work on unforeseen events, just like brokers; They do the work and have to be paid, so we (the system) wait until we have at least the inspection, if not assessment.

Because that is the (frustrating) way it is, and is part of my role to determine customers’ expectations for these inevitable frustrations.

Maybe I will soon tell the story about how after we had the survey and the search for title on an inherited real estate that my buyers had walked on, we discovered that the deceased sellers had been holding almost a decade for almost a decade.

Back to the season market?

With the flattening market and the sale of home sales, and the for more than selling housing sales, the market that may return to a seasonal market with most of the transactions in the March-June period.

No answers yet; This is something I am looking at.

What I read

• Local
  • Charlottesville Community Engagement. The most informative thing I read every day and week to know what happens real estate and life in Charlottesville and Albemarle influences.
• Climate
• Broker politics – This is a fight that we solved years ago, and it’s a shame that it happens again.
• Transport
• What UvA means for Charlottesville
• America

What I listen to

And next month – The things I didn’t get to this month. There is always so much to write about. Suggestions are always welcomed.

Thank you!

-JIM-434-242-7140