How was the real estate sector in 2018 in Charlottesville ?
The real estate sector in the United States has had a complicated year. In some states interest rates and high rents force investors. In some states, the profit of the real estate has passed. So, how was 2018 in America? What do you expect from the US real estate industry in 2019? What to expect in Charlottesville real estate market?
Atlantic Builders sales manager David Boisvert 2018 and 2019 evaluated the real estate market. Boisvert says “Looking back on 2018, the year started off strong, but as usual things have slowed down with the holidays approaching. Beginning of the year homes were selling quicker and for higher prices. Going into 2019, buyers are somewhat concerned about interest rates creeping up. Sellers should expect homes to stay on the market a bit longer.”
He said he expects prices to rise. Boisvert told “With new communities opening and more on the drawing board in the greater Charlottesville market, buyers will have lots of options for new construction homes.With the rising cost of materials and labor, buyers should expect prices to increase during 2019.”
President, Southern Development Homes Frank Ballif said that in 2018 there was a strong buyer market. He added: 2018 started with a bang! Buyers were out in full force in the spring, creating a strong seller’s market. Things leveled off in the summer and have continued to be steady, making it a good time for buyers. Supply and demand of new homes seems to be fairly balanced. We expect the balanced market will continue throughout 2019.
According to Ballif, home buyers should focus on energy saving. Ballif says “Headed into the new year, we expect that buyers of new homes are going to be super focused on energy efficiency- both for energy ($$) savings and for sustainability. An energy efficient home is a well-built home. Folks are also paying close attention to how a new home community “feels,” which often leads them toward locations that are connected to everything. Walkable locations are highly sought after. Many buyers are looking for neighborhoods with amenities, which to some people means a private community pool or a playground, and to other people that means a neighborhood that is in walking distance to shopping or city parks. We are optimistic and excited for what the market will bring in 2019!”
According to Associate Broker, Nest Realty Greg Slater Looking at the Charlottesville MSA, 2018 was a good year for the real estate market. He ın the his statement says “Compared to 2017, sales were slightly higher, median price increased, and the inventory was relatively unchanged. I would refer to it as a more balanced market than we have seen in recent years. For most that need to interact with the market, it is important to look more closely at specific segments of the market.”
“For example, the City of Charlottesville has seen rapid appreciation but we have seen the inventory grow more than usual than we have seen in recent years. New construction had an impact on certain segments of the market in the area and in some cases the days on market increased for sellers. Attached homes had a very strong year and remain in short supply. While detached sales were up, they were not up as significantly as attached sales.”
Sevdenur Demir / realestatecoulisse.com
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