A brief look at Charlottesville real estate transactions from February 2021
To keep up with what’s happening in land use in the community, I spend some free time when I can going through recent transactions. No analysis of this is intended. The point is to have a snapshot of various transactions.
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February 1, 2021
- A house in the 1600 block of Yorktown Drive sold for $775,000, or 1.79 percent over the 2021 assessed value of $761,400. The property had been assessed at $689,900 in 2020.
February 2, 2021
- A four bedroom townhouse in the Lochlyn Hill subdivision sold for $398,900. There was no 2021 assessment because the construction is new.
- A 1935 home at the corner of Oxford Road and Rugby Road sold for $1.582 million. That’s 12 percent over the 2021 assessment of $1.412 million, and 88 percent over the 2020 assessment of $838,600.
February 3, 2021
- Four building lots on Stonehenge Avenue Extended in Belmont sold for $480,000. Each is assessed at $125,000. They were assessed in 2020 at $55,000 a piece. A rezoning for this area was approved by Council in May 2013 on a 3-2 vote. (cvillepedia link)
February 4, 2021
- A single-family home on Azalea Drive sold for $375,000, or 11.7 percent below the 2021 assessed value of $423,000.
February 5, 2021
- A single-family home on Meridian Street in lower Belmont sold for $185,000, or 30.2 percent below the 2021 assessment.
- A single-family home in the 500 block of Meade Avenue sold for $235,000, or two percent above assessment. The structure was built in 1935 and has just over 1,000 square feet of floor space.
- One half of a duplex in the 700 block of Prospect Avenue sold for $150,000, or 9.73 percent over the assessment. This property is within the bounds of the Cherry Avenue Small Area Plan, which was added to the city’s Comprehensive Plan on March 1, 2021.
February 8, 2021
- A condo in a building at 808 East Jefferson sold for $340,000, or 9.36 percent over the 2021 assessment. The 2020 assessment was $261,300.
- A single-family home in the 1,000 block of East Rio Road sold for $330,000, or 2.45 percent below the 2021 assessment. The structure was built in 1962.
- A duplex at the corner of Forest Hills Avenue and 9th Street had a title change on this day. The people who bought the property in December for $321,000 (13.7 percent over 2020 assessment) placed it under the ownership of an LLC.
February 9, 2021
- A condo unit in the Ridgecrest development sold for $202,100 to an LLC, or 9.42 over the 2021 assessment. In 2020, the property had been assessed at $168,700. Ridgecrest is just to the north of Rives Park.
February 10, 2021
- A condo in the 1800 Jefferson Park Avenue building sold for $190,000, or 7.53 percent over the 2021 assessment. The structure was built in 1968.
- A single-family home on Rosa Terrace in Belmont sold for $225,000, or 8.8 percent over the 2021 assessment. An LLC purchased the property.
February 11, 2021
- A single-family home built in 1910 in the 600 block of Bolling Avenue sold for $389,244. That’s 75 percent over the 2021 assessment of $223,300.
- A pair of lots on Nicholson Street in the Lochlyn Hill neighborhood sold for $256,200. This section of the development is adjacent to Pen Park.
February 12, 2021
- A three bedroom home built in 2017 as part of the Rialto Beach Planned Unit Development sold for $500,000. That’s 6.94 percent below the 2021 assessment of $537,300.
- A pair of new homes in the 700 block of Lochlyn Hill Drive sold this week. A four bedroom townhouse sold for $431,268 and a second unit sold for $396,400. There are no assessments for the improvements, but the land for each is assessed at $91,000. The first unit is perhaps more expensive because it is one of the end units.
- A single-family home north of the 250 Bypass on Wilder Drive sold for $510,000, or about two percent below the 2021 assessment.
- A townhouse unit in Burnet Commons 3 on Almere Avenue sold for $480,000, or five percent below the assessment. This development was built atop a former city landfill adjacent to Oakwood Cemetery.
February 16, 2021
- A single-family home in the 100 block of Stribling Avenue in the Fry’s Spring neighborhood sold for $280,000, or 15.48 percent below the 2021 assessment of $331,300. The structure was built in 1962.
- A single-family home on Wayne Avenue in the Meadowbrook Heights neighborhood sold for $465,000, or 27.61 percent over the 2021 assessment. The structure was built in 1962 and is on the Albemarle County border
- A single-family home in the 1200 block of Cherry Avenue sold for $230,000. That’s 20.23 percent above the 2021 assessment. The 744 square foot structure was built in 1952.
February 17, 2021
- A commercial building at 1513 East High Street has been sold to a company called Fishersville Realty for $605,000. The building formerly housed the Eclipse Beauty Salon.
February 19, 2021
- A corner lot in the Lochlyn Hill on Nicholson Street development was purchased by Arcadia Builders, Inc, for $152,250. The property was assessed in both 2020 and 2021 at $91,000.
- A single family home in the 900 block on Stonehenge Avenue in Belmont sold for $270,000, or 25.23 percent over the 2021 assessment. The house last sold in September 1989 for $55,000.
- A 1,711 square foot single-family home in the 1,000 block of Stonehenge Avenue sold for $379,000. That’s 22.26 percent over the 2021 assessment.
February 22, 2021
- A three bedroom townhouse in the Rialto Beach planned unit development sold for $469,000. That was just under seven percent of the 2021 assessment. The 1,900 square foot structure was built in 2016.
- A 785 square foot condo in the Walker Square development sold for $256,200. That’s 10.81 percent over the 2021 estimate.
February 23, 2021
- A home on Cameron Lane in the Lewis Mountain neighborhood built in 1940 sold for $530,000. That’s roughly 16 percent over the 2021 assessment of $456,700.
February 24, 2021
- A split-level home in the 700 block of Shamrock Road sold for $380,500, or 32.62 percent over the 2021 assessment.
- A home in the 1100 block of 6th Street SE in Belmont sold for $245,067, or 21.3 percent below the 2021 assessment. The previous owner was Habitat for Humanity of Greater Charlottesville.
February 25, 2021
- The City of Charlottesville purchased a sliver of land just north of Azalea Park for $76,000.
- One half of a duplex on Little High Street sold for $295,500, or 13.68 percent over the 2021 assessment of $259,500. The seller was Neighborhood Investments LLC, a firm associated with developer Richard Spurzem. The other half will sell in late April. Stay tuned!
- A pair of condominium units in Walker Square sold for $480,000. The two had a combined 2021 assessment of $428,400, which is a purchase that is 12 percent over.
- New construction in the Paynes Mill Road sold for $536,160. The structure is a four bedroom, 2,525 square foot house.
- A single family home on Highland Avenue that was built in 1967 sold for $439,000. That’s 10.66 percent over assessment.
February 26, 2021
- Neighborhood Investments LLC purchased a duplex in the 2200 block of Jefferson Park Avenue for $515,00. The structure is back on the market with a list price of $695,000 at publication time.
- A unit in the Cream Street Condominiums sold for $320,000, or 3.46 percent. The purchaser is an LLC.
- A 2,147 square foot newly-built house on Paynes Mill Road sold for $553,943. The three bedroom structure was built on land that had a 2021 land value of $115,000.
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