8/2/2019 Nest Report Charlottesville: February 2012

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Though the overall three-year sales trend line continues to be downward, were starting to see the Charlottesville real estatmarket pick up some steam. Overall, February sales were up almost 15% from 2011 (140 vs. 122). In addition to salesbeing up, total inventory levels and Months of Inventory were both down. Weve been saying for while that inventory levelsmust come down before the real estate market can fully recover. Yet while Months of Inventory is down, levels for single

family homes and attached/condos are still in the double digits - thats too high for a full recovery to take place. As forprices: both median and average prices continued to slip downward in just about every category.

Central Virginia / Charlottesville Market Trend: Market-Wide

The City of Charlottesville was the most active segment of the market in February. After a dismal 2011, sales in the City havejumped over the past few months. Total Charlottesville City sales were up 73% (from 15 to 26) and it looks like the sales spikwill continue: contracts written in February were up from 22 to 43 in Charlottesville. Albemarle County contracts written areup also: from 93 to 124. With buyer confidence and sales on the rise, it seems like some positive news in the Charlottesvillereal estate world for a change. Overall, we expect the strong spring market to continue over the next few months.

3 Year Trend

AverageList Price

AverageSale Price

MedianSale Price

Avg Dayson Market

TotalSales

TotalInventory

Months ofInventory

Feb 2012 $308,798 $287,575 $203,700 127 102 1438 14.09

Change -1% -2.5% -23% 6% 7% -8% -15%

Feb 2011 $313,385 $295,000 $265,000 120 95 1566 16.48

Change -17% -16% -12% -14% 6% -4% -9%

Feb 2010 $376,203 $352,610 $299,500 140 90 1633 18.14

SingleFamily

AverageList Price

AverageSale Price

MedianSale Price

Avg Dayson Market

TotalSales

TotalInventory

Months ofInventory

Feb 2012 $196,946 $194,769 $181,125 112 38 430 11.31

Change -22% -18% -8% -51% 41% -11% -37%

Feb 2011 $251,254 $238,096 $197,000 229 27 482 17.85

Change 12% 12% -7% 91% -10% -12% -15%

Feb 2010 $224,001 $213,303 $211,500 120 30 548 21.07

Attached/Condo

Three Year Trend of Sales Activity (Number of Sales)

MSA (Albemarle, Charlottesville, Fluvanna, Greene, Louisa, and Nelson)

0

50

100

150

200

250

300

350

400

Mar-09 Jun-09 Sep-09 Dec-09 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11

Feb 2012

8/2/2019 Nest Report Charlottesville: February 2012

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Albemarle County

MedianSale Price

Avg Dayson Market

TotalSales

TotalInventory

Months ofInventory

Feb 2012 $245,679 119 58 997 17.18

in Fe

br

ary:Change -8.16% -25.16% 1.75% 1.94% 0.17%

Feb 2011 $267,500 159 57 978 17.15

Charlottesville City

MedianSale Price

Avg Dayson Market

TotalSales

TotalInventory

Months ofInventory

Contracts WritteFeb 2012 $200,099 100 26 260 10

in Fe

br

ary:

Change -3.11% -49.24% 73.33% -10.65% -48.45%

Feb 2011 $206,513 197 15 291 19.4

Fluvanna County

MedianSale Price

Avg Dayson Market

TotalSales

TotalInventory

Months ofInventory

Contracts WritteFeb 2012 $152,500 107 19 274 14.42

in Fe

br

ary:

Change -28.72% 22.99% 58.33% -11.04% -43.80%

Feb 2011 $213,950 87 12 308 25.66

Greene County

Median

Sale Price

Avg Days

on Market

Total

Sales

Total

Inventory

Months of

Inventory Feb 2012 $196,700 110 12 183 15.25

in Fe

br

ary:

Change -21.29% 22.22% -7.69% -15.28% -8.19%

Feb 2011 $249,900 90 13 216 16.61

Louisa County

Median

Sale Price

Avg Days

on Market

Total

Sales

Total

Inventory

Months of

InventoryContracts Writte

Feb 2012 $129,000 89 15 169 11.26

in Fe

br

ary:

Change -48.02% -16.04% 50.00% -13.33% -42.26%

Feb 2011 $248,150 106 10 195 19.5

Nelson County

MedianSale Price

Avg Dayson Market

TotalSales

TotalInventory

Months ofInventory

Contracts WritteFeb 2012 $242,500 302 10 320 32

in Fe

br

ary:

Change -11.82% 96.10% -33.33% -9.86% 35.25%

Feb 2011 $275,000 154 15 355 23.66

Feb 201