Crozet Real Estate Market – Looking at 2015 at 2016

January 13, 2016/ 0 2

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!

Transcription:

 

David Ferrall: Good. I’m David Ferrall with Nest Realty sitting here at the Crozet Library with Jim Duncan.

Jim Duncan: With Nest Realty as well.

David Ferrall: Here to talk about real estate and Crozet, particularly the fourth quarter, but also some year-end information.

Jim Duncan: Quarterly sales in Crozet year over year were up three percent. Annual sales were up twelve percent, tracking with a greater Charlotte area market.

David Ferrall: New construction was up in Crozet a sort of staggering fifty percent, fifty percent of all new construction was in Old Trail, and twenty six percent of all sales in Crozet in 2015 were in Old Trail.

Jim Duncan: Yeah keep in mind also that Old Trail are seeking to downzone. So they’re gonna be likely delivering fewer lots in the future, and that sorta tracks with the fact that we have several new developments that we are watching that should be coming online in the next twelve to eighteen months in Crozet.

David Ferrall: Moving away from new construction, there were six sales I believe in 2015 of properties built before 1900.

Jim Duncan: Yeah.

David Ferrall: Those old properties are still out there, they have a lot of charm if you can find one…

Jim Duncan: Take a look.

David Ferrall: Take a look.

Jim Duncan: Median price in Crozet is sixteen percent higher than all of Albemarle County. Last year median price in Crozet was three hundred and ninety-seven thousand dollars, median price in Albemarle County was three hundred and forty thousand dollars.

David Ferrall: That’s all we have for right now. We have a lot more to share. We’re at the Mudhouse on second and fourth Wednesdays of every month from nine to eleven. Stop on by, we love to talk real estate at any time, we’ll buy you a cup of coffee and we can sit down and have a real estate conversation.

Jim Duncan: I’m Jim.

David Ferrall: I’m David.

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