Disclosure: I’m a real estate agent. I occasionally write about the Crozet real estate market.
I’ve been looking at the data and am getting more and more curious … where are the new listings that I (and other professionals) thought would be coming on the market in Crozet? (There’s more insight in my subscription-only monthly note)
Some of the questions this data raises:
– How will this affect new construction? (probably quite well – fewer good homes with which they’re competing may mean more sales and higher prices)
– How might this affect buyers? More competition for good houses and less to choose from may 1) discourage buyers 2) keep potential buyers renting 3) drive up prices
– How might this affect sellers? They might be able to push the asking price a little bit. Or, they might price it a bit under where they might be able to price it in order to better ensure a reasonably quick contract
– How might this affect growth in Crozet? We have quite a few new homes yet to be built … will they continue at the same pace?
– Is it too early to draw any kind of reasonable conclusions? Yes. Absolutely. For all the years I’ve been writing about and practicing real estate, I’ve said that I’ll let you know in 18 months what the market did today.
– What if I have more questions about the Crozet real estate market? Ask me anytime. Here in the comments or email or call me anytime.
The short story is that there’s always more to the story than top-level data suggests. This post is just some brief insight into what’s happening in the Crozet real estate market. For broader insight, I wrote today about the Charlottesville/Central Virginia market.
Continue reading “Where’s the New Housing Inventory in Crozet?”
