Realtor declares ‘condo glut’

Jim Duncan, the area's most blog-worthy realtor, didn't want to utter the bad news, but, citing statistics, he declares today that Charlottesville indeed has a condo glut. Background: earlier this year, an overall housing glut was confirmed, and this condo thing should have been inferred three years ago when a rental glut touched off a wave of conversions culminating in 2005 when both apartment complexes built by Coran Capshaw, Walker Square and Riverbend, were converted.


You (and Jim Duncan) are forgetting the much larger complex that was also converted from apartments in 2005 by Hunter Craig - Hessian Hills.

freelovefreida -

What do you mean? There are thirty condos in Hessian Hills on the market right now. More in craigslist. The MLS shows that 4 have sold there since 1 January of 07. I didn't forget about it in my post; I chose not to highlight individual developments.