USA Today spotlights local real estate market

The Charlottesville real estate market got a lookin' at in a USA Today story yesterday, compete with fancy graphics and everything! The verdict? UVA keeps the market sheltered from the nation-wide lull in home sales and Louisa is the new hot spot.

According to the article, home sales in 2006 were the second best on record, though down from last year. But last year may have been a home sales dream. As USA Today's graphics show, monthly sales were down 16.1 percent from last year, compared to a 10.2 percent nation wide. Meanwhile, the median price of a home in Charlottesville is up 5.8 percent from last year at $317,410.

The article also notes that "as single-family home prices continue to rise, more residents are moving to surrounding counties, such as Greene, Fluvanna and Louisa, in search of affordable housing."

"Louisa is the current hot spot," Dave Phillips, chief executive of the Charlottesville Area Association of Realtors, told the mega-daily. "These small, rural markets are starting to feed Charlottesville's need for residents and workers."

On the high end, the article includes a picture of Mount Pleasant Plantation (photo left), the 2,500 acre estate that local businessman Tom Sullivan is trying to sell for $28 million. The estate figured prominently in a February Hook article about how Jefferson is used to market real estate in the area. Both the owner and the realtor claimed at the time that Mount Pleasant was "designed by Thomas Jefferson."

However, according to Calder Loth, senior architectural historian for the Virginia Department of Historic Resources, that was a questionable claim. "I suspect that Mount Pleasant may be the work of one of Jefferson's disciples rather than TJ himself," he told The Hook.

1 comment

So does that mean I can sell my single-wide on Rio Road?