A quick look at Charlottesville real estate transactions from January
As a reporter who writes a lot about land use, one of my frequent practices is to look through property transactions. This gives me a sense of what’s happening across Charlottesville.
As a Substack subscriber, you are helping cover the cost of my time to do this work. As a result, I want to share it my research with you. Everything comes from Charlottesville’s records such as the open data portal and the GIS system. If you spot an error, please let me know.
January 5, 2021:
- A new four bedroom-home in the new Belmont Point subdivision sold for $507,307. The neighborhood was created by the extension of Stonehenge Avenue following a rezoning requested by Southern Development.
- A single-family attached home in the 500 block of Rives Street built in 2013 as part of Habitat for Humanity’s redevelopment of the Sunrise Court Mobile Home Park sold for $285,000. That’s 6.86 percent over the 2021 assessment of $266,700.
January 6, 2021:
- A three-bedroom home across from Quarry Park in the Belmont Point subdivision sold for $431,055. The structure was not completed in time for the property assessment, but the 0.094 acre property was valued at $50,000 in 2020 and $112,500 in 2021.
- Piedmont Realty Holdings LLC sold a two-unit house in the 600 block of Rock Creek Road for $475,000, or 28.21 percent over the 2021 assessment. There had been no change from 2020. The new owner is Edgefield Realty Holdings LLC.
January 7, 2021:
- A unit in the Belmont Village condominiums sold for $323,500, or about 4.5 percent over the 2020 assessment and 2.08 percent over the 2021 assessment.
- Piedmont Realty Holdings LLC sold a second house on Rock Creek Road for $475,000, this time to Looker Mountain Holdings LLC. The sales price is 22.5 percent over the 2020 and 2021 assessment.
- A home in the 1600 block of Grove Road sold for $675,000, or about 1.15 percent over the 2021 assessment.
January 11, 2021:
- A single family home on Monte Vista Avenue sold for $320,000. The property was assessed in 2021 for $305,800, up from $292,800 in 2020.
- The firm EGGC LLC purchased a 0.178 acre lot in the Lochlyn Hills subdivision for $211,600. That’s 51.14 percent over the $140,000 assessment. They own two other lots nearby.
January 12, 2021:
- A two-story house across from Burley Middle School on Concord Avenue sold for $525,000. The 1925 structure was renovated within 2020 and was assessed in 2021 at $517,400. The house was renovated by Daddy Rabbit LLC who purchased the property in April 2020 for $145,000.
- A 1948 structure at 217 Lankford Avenue sold for $405,000, or 77.4 percent over the 2021 assessment of $228,300.
- Southern Property LLC purchased four undeveloped lots on Stonehenge Avenue Extended for $480,000. The four lots had a combined assessment of $205,000 in 2020. That increased to $462,500 in 2021.
January 13, 2021:
- A single-family home at 676 Evergreen Avenue sold for $639,500, or 23 percent over the 2020 assessment.
- Venice Property LLC paid an even million for a group home on Riverdale Avenue, almost right at the assessed 2021 value of $1,004,000.
- A new home on Nicholson Street in the Lochlyn Hill subdivision sold for $621,000.
January 14, 2021:
- One of the three-story mansions on East Water Street sold for $1.66 million. 1081 East Water Street was assessed in 2020 at $1.379 million and assessed in 2021 at $1.6 million. The sales price is 3.38 percent over this year’s figures.
January 15, 2021:
- A pair of properties off of Barracks Road both sold both for a couple hundred thousand dollars over assessment. 1929 Blue Ridge sold for $1.4375 million to a company called WWCFD, LLC. That’s 15.24 percent over the 2021 assessment, which was unchanged over 2020. A 1.3 acre property with a two-story house at 1204 Blue Ridge Road sold for $2.1 million to a company called 306 Elizabeth LLC. That’s 11.84 percent over the 2021 assessment of $1.877 million.
- 1835 University Circle sold for $2.6 million, or 32.23 percent over the 2020 assessment. For the 2021 assessment, the structure and improvements increased half a million in value.
- A ranch house at 2507 Willard Drive sold for $415,000, or 56 percent over the 2021 assessment of $265,900.
- A home on Wine Cellar Circle built in 1925 sold for $395,000. In 2020, the house was assessed at $360,00, and that increased to $387,000 for this year.
- A duplex in the 1100 block of Calhoun Street sold for $425,000. The 2020 assessment was $392,900 and the 2021 assessment is $406,500.
January 19, 2021:
- A new three-story home in the Rialto Beach Planned United Development in Belmont sold for $499,000, or 53.78 percent over the 2021 assessment of $324,500.
- A structure just south of Greenleaf Park on Plymouth Road sold for $775,000. That’s 3.43 percent over the 2021 assessment.
January 20, 2021:
- A 1,054 square foot property with a one-story house from 1930 at 224 Wine Street in North Downtown sold for $577,255, or 53 percent over the 2020 assessment of $377,200. The previous owner did a complete remodel of the interior of the two-bedroom structure according to a search of the city’s building permit records. These improvements were factored into the 2021 assessment, which increased to $531,300.
- A 1,037 square foot condominium unit at 820 East High Street sold for $425,000, or 24.16 percent over the 2020 assessment. The 2021 assessment increased to $410,600.
- A home in the 1200 block of Holmes Avenue sold for $275,000, or 12.8 over the 2021 assessment.
- A home in the 1000 block of St. Clair Avenue sold for $251,300, or 9.43 percent over 2021 assessment.
- Zaki Property LLC purchased a home in the 900 block of Altavista Avenue for $275,000, or 7 percent over the 2021 assessment.
January 21, 2021:
- One side of a duplex in the 1400 block of Vine Street sold for $193,000 to HNS Group LLC. That’s 42 percent over the 2020 assessment, and 14.47 percent over the 2021 assessment. HNS purchased the other side last June.
- A new four-bedroom townhouse unit on Lochlyn Hill Road sold for $430,014.
- A home on Trailridge Road in the Johnson Village neighborhood sold for $365,000. That’s 27.27 percent over the 2020 assessment, and 13.5 percent over the 2021 assessment.
January 22, 2021:
- The sale of a two-bedroom home in the 700 block of Anderson Street in the 10th and Page neighborhood provides an interesting glimpse into the assessment process. The 1941 single-family home last sold in 1997 for $48,000, and had a 2020 assessment of $176,000. That jumped to $257,300 for 2021. The land value held steady at $65,900, but the value of the structure jumped from $110,100 in 2020 to $191,400 in 2021. That means the sales price of $255,000 is actually 2.84 percent below the current assessment.
- Rialto Townhomes LLC paid $150,000 for two undeveloped lots on Rialto Street. The assessed value of each lot is $125,600.
January 25, 2021
- Not all houses sell above the assessed value. A one-story home in the 600 block of Bolling Avenue sold for $165,000. That’s 21.76 percent below the 2021 assessment. That breaks down $70,700 for the land and $140,200 for the structure.
- A three-bedroom townhouse unit in the Lochlyn Hills neighborhood sold for $454,780. The 2021 assessment only includes a land value of $100,100.
January 26, 2021
- A one-story home built in 1940 in the 600 block of Druid Avenue sold for $275,000, which is just over 25 percent of the 2021 assessment of $219,500. The assessment did not increase significantly over 2020.
January 27, 2021
- A 0.128-acre lot in the Lochlyn Hills development sold for $152,250. The vacant lot in the planned unit development was assessed in both 2020 and 2021 at $140,000.
- A one-story home in the 900 block of Bolling Avenue in Belmont sold for $275,000. That’s 31 percent over the 2020 assessment and 29 percent over the 2021 assessment of $213,300.
- A new single-family home in Belmont Point sold for $544,635. The structure on Castalia Street Extended itself is not included in the assessment for either 2020 or 2021 because construction by Southern Development was not complete. The land value for the 0.173 acre lot increased from $55,000 to $125,000 in the new assessment.
- A two-story condominium in the Ridgecrest complex in Belmont sold for $208,000. The 2020 assessment was $172,000 and that rose to $187,400 in 2021. The structure was built in 2001.
January 28, 2021:
- A house in the 2700 block of Jefferson Park Avenue sold for $358,000. That’s 26.73 percent over the 2020 assessment and 4.37 percent over the 2021 assessment. The property last sold in 1996 for $116,000.