Charlottesville Realtors: Housing Market on the Mend - NBC29 WVIR Charlottesville, VA News, Sports and Weather

Charlottesville Realtors: Housing Market on the Mend

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Realtors across the Charlottesville area agree: things are looking up for the housing market.

Two reports released this week show continued positive trends for the region during the first quarter of the year.

Two reports and two sets of data had one conclusion: if you were holding your breath waiting for signs of a real estate recovery, now you can start to breathe.

If you're looking to buy or sell, two new regional real estate reports suggest now might be the time.

"The trends are all positive," said Denise Ramey, president of the Charlottesville Area Association of Realtors.

Jim Duncan, with Nest Realty, said, "I think now we're starting to see consistent trends of increased sales across the board."

First quarter reports from Nest Realty and the CAAR both show an increase in home sales compared with the same period in 2012. And considering both are calculated in different ways, using different data, that's a very good sign.

"A good segment of the selling population is aware that, in order to get their house sold, they have to prepare and price it accordingly," Duncan said.

"For buyers, it's causing them to get off the fence because they're seeing pricing that seems to have stabilized," Ramey said.

Jeannine Smith is in the process of buying a new home and selling her condo.

"We weren't analyzing the data the way our realtor was. So we really relied on him to tell us if this was the right time. And he was right, it was the right time," Smith said.

"They prepared as they needed to. I mean, they did the up front work to get their home ready for the market," Duncan said.

It only took about a month for Smith to find a buyer, and find a new place to call home. And realtors say, with trends looking up, that's not uncommon.

"A large percentage of the homes are selling in 30 days or less," Duncan said.

Realtors stress they are cautiously optimistic. They won't know definitively until next year where we really stand.

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