Market Report Central Virginia- 1st Qtr. 2015

The  Charlottesville Area Association of REALTORs has released their Market Report for the  1st Quarter of 2015 and the numbers are as expected.The median sales price for the region has increased from $244,250 in 2014 to $256,750 for this quarter.  I hope you will read the entire report but here is a quick summary.  Condo sales increased by 40%-a number which surprised me.  Pending sales have increased 18% over the same time frame last year.  The number of sales closed remained almost identical but there are many more properties set to close this year.

Posted in Uncategorized | Tagged , , , , | Leave a comment

Are Home Prices Improving?

Reading this headline makes you wonder what I mean by “improving”.  If you are a buyer looking for a new home, an improving price would be one moving down.  Sellers are celebrating, cautiously celebrating, higher prices. It may be the sellers who see IMPROVEMENT this spring in central Virginia.

REALTOR Magazine

With actual quarterly numbers still a few days a way I predict the local market will reach prices we have not seen since 2007.

REALTOR Magazine has a great article;  READ MORE

Posted in Uncategorized | Tagged , , , , | Leave a comment

Local Sales are Up for Third Year

The year end report for the Charlottesville Area Association of REALTORs has been published and we find a continued, slow improvement in the number of sales and the median prices for those homes sold.  The sales in our area increased by 2% with a new median sales price of $270,000.  It was also noted that the prices have returned to their highest level since 2007.

Charlottesville Area Association of REALTORs Market Report

Our area seems to be similar to others around the nation-the number of houses available to buy has declined.  With the spring market beginning it looks like a really good time to bring your house or land on the market.    Call us at Montague Miller & Company for a free competitive market analysis.

Report Details 2014

Posted in Uncategorized | Tagged , , , , , | Leave a comment

Let the Holidays Begin

It is that most excellent time of the year when we take time to give thanks.  Montague Miller & Company extends heartfelt thanks to our clients, our associates, our staff and to our families who are at the center of what we do and who we are.

Happy Thanksgiving from your friends at Montague Miller & Company.

Posted in Uncategorized | Tagged , | Leave a comment

Montague Miller Milers Field team for Womens’ Charlottesville 4 Miler

Our company is proud to be a very small part of a very big event.  Our team, The Montague Miller Milers has been training all summer to run  in  a 4 Mile fundraising event on Saturday August 30, 2014. The race begins at Fox Field Race Course and follows along Garth Road.  Runners, Walkers, Strutters of all ages will join the field of 3,000 as we pass the “Inspirational Mile” bearing posters with the names of loved ones who have both won and lost the battle to breast cancer.

Our very own Pam Whorley is the director of the Womens’ 4 Miler Training Program.  With the help of her “Pink Lady” volunteers we have been conditioning for the race.

The Charlottesville Womens’ 4 Miler, Virginia’s largest all womens’ event has been run every year for 32 years.  Proceeds from the race stay right here at the UVA Cancer Center’s Breast Care Program.  Help with a Donation?

Posted in Uncategorized | Leave a comment

Central VA Real Estate 2nd Quarterly Report

Central VA 2nd Qtr Real Estate Market Report

Central VA 2nd Qtr Real Estate Market Repor

Looking to move to the Charlottesville or Central Virginia area? Thinking of selling or buying a new home in Albemarle, Amherst, Greene, Louisa, Culpeper, Orange, or Madison County?

Check out CAAR’s Second Quarter 2014 Market Report. This is a great resource to get a snapshot of the area’s current market with data from the CAAR MLS system.

Read the full report

Posted in Uncategorized | Leave a comment

Where Are those Millennials?

The housing market is definitely improving but new household formation may be trailing behind.  We have posted on the Millennial topic before, speculating that the “30 somethings” couldn’t wait to get out of Mom and Dad’s house.  It just may be that larger than anticipated student debt is keeping millennial buyers from launching out on their own.

When will Millennials Break Into Ownership?, Daily Real Estate News,6/26/14 speculates:

Researchers are hopeful for a turnaround…the number of households in their 30′s is expected to increase by 2.7 Million over the coming decade.”

Posted in Homeownership, Uncategorized | Leave a comment

National Association of REALTORs meeting in DC

If it is Mid May, you can bet the National Association of REALTORs will be meeting in Washington, DC.  The 2014 REALTOR Party Convention and Trade Expo will mean more than 8,000 REALTORs will be in the nation’s capital to advocate for and against legislation favorable to home ownership.

Read more in REALTOR Magazine.

Posted in Uncategorized | Leave a comment

Careers in Real Estate

The market continues to improve and as it does we begin to hear from men and women who are considering real estate as their career. Many of the best agents came to real estate as a second career.  Consider this-The National Association of REALTORs reports that the average age of Brokers is 59.  It is obvious that the leadership of the industry is “greying”. With that in mind, why not consider real estate as your primary career.  There is room at the top and this seems to be a good time to begin.

What is important about beginning in real estate?  I am prejudiced, naturally, but think you need to affiliate with a great teaching firm.  A mentor and coach with experience in all markets will make a big difference to you.

What sort of candidates do well in our business?  Are you good at working with people, have good communication skills?  Are you able to work independently, are you motivated to do well?

Would you like to learn more?  Call me.

Posted in Uncategorized | Tagged | Leave a comment

Real Estate Market Report- CAAR- 1st QTR. 2014

The first quarter market report from the Charlottesville Area Association of REALTORs has been published and the findings continue to show an ever improving real estate market in Central Virginia.

1st Quarter Sales Report 2014

This year may be all about the inventory, or lack of it.  Property for sale now is at a five year low.  The number of properties sold in the first quarter is almost identical to last year but we know that buyers are out in droves, looking for a home.  It is likely that a strong spring demand and low interest rates will continue to push the median prices up.  Note the trend of pricing across the region. The prices are the BEST THEY HAVE BEEN IN FOUR YEARS.

Best median Prices in FOUR YEARS

Want to see the entire REPORT?

Posted in Uncategorized | Tagged | Leave a comment