Monthly Archives: May 2021

A snapshot of Charlottesville real estate transactions in March 2021

Much of what I write about is planning. But to really understand what’s happening in Charlottesville, it’s important to look through transactions. I share this with you to give an anecdotal view of the market. No analysis is intended with this list, but I do think reading through it is a valuable exercise for anyone interested in land use in Charlottesville. 

This time around, a lot of bank buildings were purchased. Lots of units in the Ridgecrest townhouse complex sold. Prices continued to increase for lots finished and ready for development.

This edition was originally written for Substack subscribers, but it goes to the wider community a couple of days later. Consider joining to help support this work!

March 1, 2021

  • The owner of a single family home on 14th Street NW that was built in 1921 was transferred by the owner to an LLC that is the same as the structure’s address. 
  • A new single-family home in Charlottesville’s side of the Lochlyn Hill neighborhood on Lochlyn Hill Drive sold for $415,000. The lot was appraised in 2021 at $91,000. 
  • A company called 418 Investors LLC purchased two office spaces inside of the King Building on East Water Street. Suite 800 sold for $990,000 and Suite 900 sold for $290,000. Suite 800 has a 2021 assessment of $1,448,700 making the sale 31.6 percent below that value. The sale of Suite 900 was eleven percent below the assessed value of $325,800. 
  • A single family house on Oakleaf Lane right next to Walker Upper Elementary School sold for $334,700, or 1.58 percent over the assessment.
King Building (Source: Charlottesville GIS)
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