** There are currently 33 detached, single family homes on the market in Forest Lakes. Prices range from $248,900 to $699,000. Average Days On Market = 115 Price per sq ft = $159.92
** Since January 1st of this year, only 1 single family home has sold in Forest Lakes. Listed for $283,000 and sold 277 days later for $245,000 Price per sq ft = $185.05
** There are currently 13 Attached Homes/Condos/Townhomes on the market in Forest Lakes. Prices range from $169,900 to $319,900 Average Days On Market =167 Price per sq ft = $144.60
Up 'till now, Forest Lakes had been spared from the worst that this economic crisis had brought to the rest of the nation, but now, even here in our beautiful north Charlottesville enclave, we have 3 REO properties and 3 short sales in the mix.
Our market times are still increasing and our price per square foot is decreasing.
So, my advice to sellers: be aggressive in your pricing.
My advice to buyers: it's so important to buy low--and what better market to do THAT in, than NOW!
