CAAR Third Quarter Report Shows Positive Housing Trends - NBC29 WVIR Charlottesville, VA News, Sports and Weather

CAAR Third Quarter Report Shows Positive Housing Trends

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There is good real estate news in the Charlottesville area.  The latest report from the Charlottesville Area Association of Realtors (CAAR) shows serious signs of recovery after years of lagging sales.

It's not just sales numbers that are looking up in this report.  Average prices are also up more than 6 percent compared to this time last year, and the total number of homes on the market is down.

In fact, compared to quarter three in 2011, there were almost 20 percent fewer homes on the market during this quarter.  That means more buyers are seeing more value, and deciding it's the right time to make a purchase.

Compared to this time last year, sales in Charlottesville and surrounding counties are up almost 23 percent.  It's all positive news that suggests we are almost definitely on the upswing.

"We've had three quarters of when real estate's active, and it's going in the right direction," said Brad Connor with CAAR.  "You know, I think we're feeling pretty good that it's a positive, positive movement."

Nest Realty's third quarter report, released last week, showed many of the same trends for the Charlottesville area.  All are in agreement that the market is moving in a positive direction.

CAAR says we are very close to a balanced market.  In other words, whether you're buying or selling, we haven't seen trends this positive since 2009.

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