Friday, January 04, 2008

Changing Charlottesville Real Estate Market

Local blogger Jim Duncan, who has been kind enough to link to this blog on several occasions from his own, was featured in a news report on WVIR-TV Thursday night, reported by David Douglas.

The text version of the report on the station's web site (which also makes the fuller video report available) notes:

Numbers from the Multiple Listing Service show end of year home inventory has climbed from December 2005, when there was just over five months of available inventory on the market. That climbed to nine months in 2006.

Today, there are 18 months of inventory on the market. But realtors caution sellers and buyers not to buy into the mentality that there's a nationwide housing slump. Instead, they say each market, is its own.

"Even within our market it's very localized, street by street, neighborhood by neighborhood, some neighborhoods are selling more rapidly than others," said realtor Jim Duncan.
Jim reacts to the television news report here. He calls it a "not-so-terrible story."

1 comment:

Jim Duncan said...

Thanks for the link, Rick.

I am always on edge when doing interviews, as I never know how they're going to turn out, hence, "not-so-terrible."

I firmly believe that the market is susceptible to fear mongering, and I am glad that WVIR did such an even-keeled story.