Starting 2018 in the Crozet Real Estate Market

We went for a shorter, tighter segment this time. What do you think?

Questions? Ask David or Jim.

Read all of the real estate posts on RealCrozetVA.

Transcription is in the works; I’ll update this post then.

Legal Disclosure: David and I are real estate agents with Nest Realty in Charlottesville.

Quick data points from our notes

* 150M vs 129M
* 313 vs 282 up 11%
* New construction – 113 vs 90 – up 26%
* Resale market – pretty flat 200 sold in 2017 w/ 61 DOM vs 192 in 2016 with 57 DOM
* 55 sales over 1 acre vs 52 – people want small yards
* 21 land sales
* 5 distressed

Tight inventory continues
New construction continues to do extremely well.

In Old Trail, in 2016 87 sold, and 2017, 80 sold

Fun Fact – 55 new construction sales in Old Trail both years

Fun Fact – Trails mentioned 5 times in 2007, 35 in 2016 and 40 times in 2017

December 2017 – 29 ratified contracts in 2017 vs 17 in 2016.





Crozet Real Estate Market – Starting 2018

Jim: Hey there. Jim Duncan with Nest Realty.

David: David Farrell with Nest Realty, sitting here at Nest West.

Jim: Do a little bit of Crozet real estate. Looking back at 2017, Crozet had 115 million dollars of real estate sales, versus 129 million in the previous year.

David: It was a heck of a year, Jim. We had 313 sales. That was up 11% from last year — the most ever in Crozet. Remember we’re defining Crozet by the Brownsville —

Jim: And Crozet Elementary.

David: — and Crozet Elementary school district.

Jim: New construction?

David: Was also up. 113 new homes build in Crozet last year, up from 90 the year before in 2016, so that a 26% increase, new home constructions.

Jim: Heck of a year for new.

Resale, actually, was kind of flat. I think, driven by the new construction taking it. 200 sold in 2017 with 61 days on the market, and 192 sold in 2016 with about the same, 57 days on the market.

David: Still impressive though.

We had 55 sales on an acre or more. Those are typically a couple of the older subdivisions in town, but mostly properties outside of the area.

Jim: Right.

David: There were 21 land sales overall for the year, which is the same as in 2016\. The good news is, we only had five distressed sales over the whole year — short sale, foreclosures — there were 7 in 2016\. So we’re thrilled to see that.

Jim: That’s a great thing.

David: Good to see that figure drop.

Jim: Looking forward to 2018\. We’re going to have continued tight inventory. It’s going to be hard to buy a house for a lot of people. New construction is going to continue to kill it, I think.

David: Yes.

Jim: — but for those looking for stuff under 500 in Crozet…

David: It’s getting hard.

Jim: It’s going to be hard, getting harder.

David: Attached home in Old Trail or lock into a resale.

Jim: Yes.

Old Trail, 2016, 87 sold, and 2017, fewer — 80 sold.

David: I thought it was extremely interesting in Old Trail that 55 new construction sold in 2017; the exact same as in 2016\. So even though we see dirt flying over there constantly, the build-out rate seems to be around 55 — between 50 and 60…

Jim: Which is good. A good stable rate of new construction.

My fun fact for this one is that in 2007 in the MLS, trails were mentioned as a selling point five times; 2016, 35 times, and last year, 2017, 40 times. So huge kudos to the Crozet Trails crew for all that they do.

David: Great growing trail system.

Jim: Yes.

And, busy, busy December. In Brownsville and Crozet there were 29 ratified contracts in 2017, only 17 in 2016.

David: Pretty impressive.

Jim: Very.

David: Busy drinking beer around here also?

Jim: Oh, there’s lots of places to drink beer.

David: Third Thursday of the month, we’re going to be up at the Roof Top, so that’s Thursday, January 18th; we’ll be up there from 5 to 7 if you want to come talk about real estate. If you have any questions about heading into 2018, just stop by and have a beer, and we’ll be happy to chat with you.

Jim: If you’re thinking about selling your house, I think now is the time to start having the conversation about getting ready for the spring market, because it is really and truly right around the corner.

David: I’ve got listings coming on this week. I bet you do also?

Jim: Same too.

David: OK. I’m David Farrell of Nest Realty.

Jim: Jim Duncan of Nest Realty.

David: Good luck with your real estate in 2018.

Crozet Real Estate Market Update – Spring 2017

David Ferrall and Jim Duncan met at the Rooftop and talked about the Crozet real estate market in Spring 2017 – resale homes, new construction, price per square foot, and a fair bit more.

But the conversation is never about just real estate data … we also talked about the Rooftop, Nest West, Great Valu improvements, Piedmont Place, PRN’s containers, Crozet Trails and connectivity, and generally about how Crozet is truly a great place to live.


All in under 6 minutes! Questions about the market? Ask us, or stop by PRN on the Third Thursday of the month from 5pm to 7pm.


Crozet Real Estate Insight – ending 2016 and starting 2017

Speaking of the Crozet real estate market … David Ferrall and Jim Duncan met at PRN last week and talked about the Crozet real estate market in 2016, and speculated a bit about the 2017 market.

But the conversation is never about just real estate … we also talked about businesses that have opened in Crozet (Smoked Kitchen & Tapnée Smoked BBQ, Morsel Compass, Blue Ridge Bottleshop in Piedmont Place), changes (Southern Way moved from its spot across from Starr Hill to the old Three Notch’d Grill building, Great Valu changed hands), our favorite charities, and of course, our love for Pro Re Nata brewery.

All in under 6 minutes! Questions about the market? Ask us, or stop by PRN on 19 January at 5pm.


Crozet Real Estate Conversation – Moving to PRN

We’ve been doing our Crozet Real Estate Conversations at the Mudhouse for the past few months, and have done our market update videos at several Crozet businesses. We’re shaking things up this month and for the forthcoming months … Thirsty (real estate) Thursdays.

The Third Thursday of the month from 5:30 to 7:30, David Ferrall and I will be at Pro Re Nata to talk about the Crozet (or Charlottesville/Albemarle/Nelson) real estate markets. PRN have Wi-Fi, so we’ll probably be running some real estate statistics, too, because that’s one of the things we do for fun (really).

Have questions about the Crozet real estate market? Stop by PRN Thursday, 16 June from 5:30 to 7:30.

Crozet Real Estate Conversation - at PRN with David Ferrall and Jim Duncan with Nest Realty

Crozet Real Estate Conversation – 1st Quarter 2016

We love doing these. Not only do we love real estate market analysis & data, but having the opportunity to shoot at Crozet businesses is a big bonus!

We’ve done these at the Crozet Mudhouse, Greenhouse Coffee, Crozet Library, and this month at Pro Re Nata (PRN).

The Crozet Real Estate Conversation with David Ferrall and Jim Duncan with Nest Realty.

We look at the 1st Quarter 2016 real estate market report – land sales, new construction contracts, total sales in Brownsville & Crozet Elementary School Districts.

Have questions about the market? Call or email us anytime. Or stop by the Crozet Mudhouse from 9am – 11am on the 2nd & 4th Wednesdays of every month!

Crozet Real Estate Market – Looking at 2015 at 2016

Where are houses in Crozet selling? What are prices doing? Is now a good time to buy or sell a home in Crozet? David Ferrall and I answer some of these questions in this quarter’s real estate overview of the Crozet area.


Questions about the market? Thinking about buying a home or curious about your home’s market value?

Ask us anytime. Or stop by the Crozet Mudhouse on either the 2nd or 4th Wednesday of the month between 9am and 11am.


Median sales price, where are new homes selling, what neighborhoods are coming online in Crozet? We love questions!

Our experiment continues. David Ferrall and I love to talk about real estate. We thought the Crozet Real Estate Conversation series would be a good place to talk about real estate and share some of our thoughts and insights about life in Crozet & the Crozet real estate market.

  • “Crozet” for these purposes is defined as “Crozet Elementary + Brownsville Elementary” 
  • 2015 Median price for Attached & Detached homes in Albemarle County: $340K  (1,471 homes).  (1,374 homes)*
  • 2015 Median price home in Crozet: $400K (285 homes sold) Median price home in Crozet in 2014: $373K (253 homes sold).
  • New construction in Crozet is up 50%(!) in 2015 over 2014.
  • Small builders are holding their own, holding 20% of the new construction market.
  • 50% of new construction in Crozet is in Old Trail.
  • 26 of sales in Crozet last year were in Old Trail (also, Old Trail is seeking a downzoning)
  • 28% of new homes sold in Crozet last year were under $400K.
  • 19% of all sales in Albemarle County are in Brownsville + Crozet Elementary School districts

Read/comment more at the facebook post.

David and/or I are at the Crozet Mudhouse on the 2nd and 4th Wednesday of every month. Please stop by to chat; we pulled (and know) a lot more real estate data and information than we shared in the video.

Ask us questions anytime!

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