A summary of Charlottesville transactions in May 2021

(This piece originally appeared on Charlottesville Community Engagement as an article for paid subscribers. Please consider becoming one to ensure these reviews can continue!)

2021 continues to be a year where the price of single-family residential homes and lots is increasing in Charlottesville, seemingly with no end in sight. Interest-rates remain low, as does interest in making large financial investments.

I feel it’s important to understand what’s happening here parcel by parcel, transaction by transaction. That helps me have a better understanding, though this month’s list raises more questions.

What insights do you have? How do these real-world transactions affect consideration of the recently adopted Affordable Housing Plan? Were any of these transactions influenced by the not-yet-adopted Future Land Use Map? How many of these houses might have been purchased for their land?

May 3, 2021

• A single-family home in the 1100 block of Altavista Avenue sold for $425,000, or 67.65 percent over the 2021 assessment of $253,500. The new owners do not have any other property within Charlottesville and review of the city’s building permit database does not bring up any recent renovations. The property is zoned R1-S. 
• A unit in the Belmont Village townhouse community sold for $342,000, or 8.40 percent over the 2021 assessment. 
• A single-family home in the 200 block of Sunset Avenue sold for $245,000, or 33.22 percent over the 2021 assessment. The property sits on 0.217 acres and is zoned R1-S. 
• A single-family home in the 1600 block of Brandywine Drive sold for $570,000, which is 5.47 percent below the assessment of $603,000.

May 4, 2021

• In November 2009, City Council approved a rezoning of the former Sunrise Court Mobile Home park for a Planned Unit Development, allowing Habitat for Humanity to begin a phased redevelopment of the site. Eight years later, Southern Property purchased several lots for new construction. On this day, one half of a duplex on Midland Avenue built in 2019 sold for $317,700, or 19.57 percent over the 2021 assessed value. 
• A single-family home on 12th Street NW in the Venable neighborhood sold for $340,000, or 7.63 percent over the 2021 assessment. The 902 square foot building was constructed in 1997. 
• In the Fry’s Spring neighborhood, a 1958 single-family home in the 200 block of Azalea Drive sold for $365,000. That’s 35 percent over the 2021 assessment. The house sits on a 0.2 acre lot. 
• Both sides of a duplex on Longwood Drive in the Fry’s Spring neighborhood sold for $470,450. That’s 11.96 percent over the 2021 assessment of $420,200. The 2020 assessment was $264,700, making this transaction 77.73 percent over that figure. 
• A single-family home on the western side of Center Avenue in Fry’s Spring sold for $298,000, or $100 over the 2021 assessment, or 5.04 percent over the 2020 assessment.
• A single-family home on Wine Street in North Downtown was transferred to a company called Wine Street LLC.  The structure and land are assessed at $493,300.
• One half of a duplex on Rosa Terrace in the Ridge Street neighborhood sold for $120,000, or 2.91 percent under the 2021 assessment. The 718 square foot home was built in 1969. 

May 5, 2021

• A unit in the Ridgecrest townhome community sold for $184,500, which is 17.21 percent under the 2021 assessment. This price may be lower due to this being a transaction within a family. 
• A single-family home in the 900 block of Altavista Avenue sold for $292,500, which is 36.11 percent over the 2021 assessment. 

May 6, 2021

• A 728 square foot single-family home in the 800 block of Blenheim Avenue in Belmont sold for an even $350,000. The 2021 assessment is $258,000, making the sale 35.24 percent over the assessment. The building was constructed in 1949.
• A company called Hillside Construction and Remodeling LLC purchased a single-family home in the 200 block of Palatine Avenue in Belmont for $220,000. That’s 8.43 percent over the 2021 assessment. This building was also constructed in 1949. 
• A single-family home in the Meadows neighborhood in the 1600 block of Ricky Road sold for $410,000, or 19.01 percent over the 2021 assessment. The structure was built in 1963 and sits on 0.39 acres.
• A single-family home built in 2005 on Raymond Lane in the Ridge Street neighborhood sold for $465,000, or 9.36 percent over the recent assessment. The 2021 assessment of $425,200 is lower than the 2020 assessment of $454,400. 
• A single-family home in the 700 block of Ridge Street sold for $517,500 or 51.32 over the 2021 assessment. The previous owner made several interior and exterior renovations in 2019. 
• A single-family home on the one-block Mulberry Street in Fry’s Spring sold for an even $350,000, or 14.34 percent over the 2021 assessment. The building was constructed in 1952 and is on 0.172 acres.

May 7, 2021

• One half of a duplex on Birdwood Court sold for $277,000, or 21.54 percent over the 2021 assessment. The building was constructed in 1987. 
• A 0.235 acre lot on Moseley Drive sold for $50,000 to Southland Homes Inc. That’s 43.18 percent under the 2021 assessment. 
• A single-family home on Dellmead Lane in the Meadows neighborhood sold for $265,000. That’s 9.15 percent under the 2021 assessment. The house was built in 1960 and is on 0.527 acres. 
• A 523 square foot apartment in the building at 1800 Jefferson Park Avenue sold for $170,000, or 30.07 percent over the 2021 assessment. The residential building dates back to 1966. 
• A 896 square foot single-family home built in 1940 on Westerly Avenue in the Jefferson Park Avenue neighborhood sold for $300,000. That’s 24.02 percent over the 2021 assessment. The previous owner made several renovations. 

May 10, 2021

• A small duplex in the 700 block of Avon Street sold for $108,800, which is 40.64 percent below the 2021 assessment. Property records indicate the structure was built in 1900, but the appearance from the street is of a square building with a flat roof. 
• An 870 square foot unit in the Monticello Overlook condominium complex sold for $193,500. That’s 5.22 percent over the 2021 assessment and 15.73 percent over the 2020 assessment of $167,200. 

May 12, 2021

• One half of a duplex on Nassau Street built by Habitat for Humanity of Greater Charlottesville sold for $214,900. This and other homes were dedicated on May 15 and are the subject of a story by Andrew Webb on NBC29. 
• A single-family home on Amherst Street in the Barracks/Rugby neighborhood sold for $415,000, which is 18.64 percent over the assessment. 
• A 1,028 square foot unit in a condominium complex on Arlington Boulevard in the Barracks Road neighborhood sold for $225,000. That’s 43.04 percent over the 2021 assessment.
  
  May 13, 2021

• An office building at 918 Emmet Street purchased by the University of Virginia in 1993 had its title updated from “RECTOR, & VISITORS OF U OF VA” as the owner to “RECTOR & VISITORS OF THE U OF VA.”
• A townhome on Melbourne Park Circle built in 2005 in the Locust Grove neighborhood sold for $280,000, which is 6.06 percent over the 2021 assessment. 
• A single-family home on King Mountain Road in the Greenbrier neighborhood sold for $915,000. That’s 43.3 percent over the 2021 assessment.
• A single family on Northwood Avenue in the North Downtown neighborhood sold for $1,069,900. That’s 48.79 percent over the 2021 assessment. That’s 105.72 percent over the 2021 assessment.
• A single-family home on Altamont Circle sold for $1,045,000, which is 3.76 percent over the 2021 assessment and 31.63 percent over the 2020 assessment of $793,900.
• A single-family home on Porter Avenue in Fry’s Spring sold for $650,000, or 10.88 percent over the 2021 assessment. The structure was built in 2018. 
• A single-family home on Westerly Avenue in the Jefferson Park Avenue neighborhood sold for $375,000 to Ward Properties LLC at about 1.96 percent under the 2021 assessment. The company owns five other properties in Charlottesville. 

May 14, 2021

• A single-family home on Cameron Lane in the Lewis Mountain neighborhood sold for $928,000 to F L Clover LLC. That’s 36.53 percent over the 2021 assessment for a building constructed in 1935 that sits on a half-acre lot. 
• A single-family home in the 1500 block on Cherry Avenue in the Fifeville neighborhood sold for $398,000. That is 52.84 percent over the 2021 assessment. 
• A 900 square foot unit in the Walker Square condominium complex in Fifeville sold for $250,000. That’s 3.92 percent below the 2021 assessment and 2.71 percent over the 2020 assessment. 

May 17, 2021

• A single-family home on Bainbridge Street in Belmont sold for $365,000, which is 53.55 percent over the 2021 assessment. According to property records, the structure built in 1945 has 1,104 square feet and no basement. The 0.134 lot is zoned R-3. The home was recently renovated by Blue Dog LLC, who had purchased the property in January.
• A 976 square foot unit in an apartment building constructed by Habitat for Humanity at  Sunrise Park sold for $186,000. That’s 38.08 percent over the 2021 assessment. The unit was purchased from Sunrise Park LLC. 
• A single-family home on Briarcliff Avenue sold for $400,000, which is 33.69 percent above the assessment. The 1.5 story building was constructed in 1962.
• A single-family home on Dairy Road that is also along Rugby Road sold for $700,000 to an Afton-based company called LBHOME LLC. The structure built in 1948 sits on 0.54 acres. The draft future land use map depicts this as “middle residential density” which currently would recommend between eight to 12 residential units on the property if it were to be redeveloped. 
• A single-family home in the 300 block of 10th Street in the 10th and Page neighborhood sold for $320,000. That’s 21.17 percent over the 2021 assessment for a 1,150 square foot building with no basement. 

May 18, 2021

• A single-family home in the 1500 block of Oxford Road sold for $580,000, or 6.46 percent over the 2021 assessment. 
• New construction of a five bedroom house on Bennett Street in the Lochlyn Hill neighborhood sold for $694,490. The lot was assessed in 2021 for $140,000. 
• A single-family home on Augusta Street in the Barracks / Rugby neighborhood sold for $475,000, or 27.72 percent over the 2021 assessment. The structure was built in 1957.
• A single-family home in the 300 block of Cherry Avenue sold for $380,000 to an entity called Project New Life. The 0.25 acre property had been owned by Neighborhood Investments, a company associated with developer Richard Spurzem. The recent transaction is 25.54 percent over the 2021 assessment. 

May 19, 2021

• Arcadia Builders purchased three lots in the Lochlyn Hill development. The company purchased a 0.131 lot on Pen Park Lane for $178,250, which is 154.64 percent over the 2021 assessment. They bought an 0.151 acre lot on Lochlyn Hill Drive for $191,100, which is 36.5 percent over the 2021 assessment. The third 0.145 acre lot is also on Lochlynn Hill Drive, and Arcadia Builders purchased that one for $197,400,or 41 percent over the 2021 assessment. What will the finished products sell for? Stay tuned! 
• One half of a duplex in the 700 block of Ridge Street sold for $175,000, or 3.43 percent over the 2021 assessment. The structure was built in 1974. 
• One half of a duplex in the 800 block of Prospect Avenue sold for $160,000, which is 15.77 percent over the 2021 assessment. 
• A single-family home on Kelsey Court in the Barracks / Rugby neighborhood built in 2002 sold for $570,000. That’s 7.51 percent over the 2021 assessment. 
• A single-family home on Lewis Mountain Circle sold for $531,000. That’s 1.61 percent under the 2021 assessment. The structure dates back to 1954 and is on 0.351 acres. 

May 20, 2021

• A single-family home in the 300 block of Palatine Avenue sold for $309,000, which is 55.67 percent over the 2021 assessment. 
• A single-family home on Willow Drive in the Martha Jefferson neighborhood sold for $341,000. The house was built in 1953 and is on 0.11 acres. The land is zoned R-2. 
• The title of a single-family home in the 600 block of Evergreen Avenue in the North Downtown neighborhood was transferred to an LLC named after its address. 
• A single-family home in the 1600 block of Brandywine Drive sold for $420,000, or 6.44 percent over the 2021 assessment. The structure was built in 2001.
• A single-family home on the eastern side of Center Avenue in Fifesville built in 1960 on 0.1720 acres sold for $365,000. That’s 28.93 percent over the 2021 assessment. 
• A single-family home on Woodfolk Drive in the Ridge Street built in 1965 sold for $430,000, or 11.95 percent over the 2021 assessment. There were significant renovations in 2019 according to the city’s building permit database. 

May 21, 2021

• A single-family home in the 800 block of Monticello Avenue in Belmont sold for $340,000, which is only 3.19 percent over the 2021 assessment. 
• A single-family home on Kenwood Lane in Greenbrier neighborhood sold for $375,000, which is 0.79 percent under the 2021 assessment.
• New construction of a five-bedroom home on Payne’s Mill Road in the Ridge Street neighborhood sold for $600,962. The 0.19 acre lot had a 2021 assessment of $115,000. 

May 24, 2021

• A unit in the Melbourne Circle complex in the Locust Grove neighborhood sold for $325,000. That’s 17.41 percent over the 2021 assessment. This particular structure was built in 2006. 
• A commercial unit in the medical building at 901 Preston Avenue sold for $65,000, or 9.06 percent over the 2021 assessment. 
• A single-family home in the 700 block of Stonehenge Avenue sold for $617,000, or 25.97 percent over the 2021 assessment. This house last sold in July 2018 for $475,000.Melbourne Circle

May 25, 2021

• A single-family home on St. James Circle in the Martha Jefferson neighborhood sold for $450,000, which is 40.98 percent over the 2021 assessment. The structure was built in 1956. While there have been multiple transactions over the years, the last time money changed hands was in 1970 when it sold for $19,500.
• A single-family home in the 1300 block of Chesapeake Street in Woolen Mills sold for $380,000, or 45.82 percent over the assessment.
• A 900 square foot unit in the Walker Square complex sold for $257,000, which is 0.55 percent over the 2021 assessment and 7.53 percent over the 2020 assessment. The purchaser is NFH LLC.  
• A single-family home on Winston Road in the Venable neighborhood sold for $907,500, or 16.06 percent over the 2021 assessment. The building was constructed in 1946.

May 26, 2021

• A townhouse unit in the Ridgecrest complex on Danbury Court in the Belmont Neighborhood sold for $220,000, which is 24.72 percent over the 2021 assessment. The unit was built in 2000. 
• A unit in the apartment building at 1800 Jefferson Park Avenue sold for $220,000. That’s 8.96 percent over the 2021 assessment. 

May 27, 2021

• Peak Builders LLC picked up a pair of lots on Lochlyn Hill Drive for $349,650. Each has a 2021 assessment of $140,000, making the total purchase 24.88 percent over the collective value of $280,000. 
• A single-family home on Plymouth Road in the Barracks / Rugby neighborhood on 0.31 acres sold for $417,000. That’s 22.72 percent over the 2021 assessment for a building constructed in 1952. 
• Directly across the street, another single-family home on Plymouth Road sold for $735,000, which is 59.37 percent over the 2021 assessment. This structure was built in 1953 and sits on 0.283 acres. 
• A single-family home in the 1000 block of Blenheim Avenue in Belmont sold for $571,000, which is 168.96 percent over the 2021 assessment. That may not reflect extensive renovations including a second story addition undertaken by the previous owners in 2020.
• A single-family home on Rayon Street in the Ridge Street neighborhood sold for $330,000. That’s 30.18 percent over the 2021 assessment for a 1947 structure with 1,033 square feet of finished space. 
• A single-family home on North Baker Street in the Fifeville neighborhood sold for $340,000. That’s 10.35 percent over the 2021 assessment. 
• Nearby on Baker Street in Fifeville, a single-family home with three bedrooms sold for $391,000, or 62.17 percent over the 2021 assessment of $241,100. There have been no recent building permits for renovations. 
• A single-family home in the 200 block of Cleveland Avenue sold for $420,000. That’s 4.52 percent below the 2021 assessment. 
• A single-family home on 0.227 acres on Westerly Avenue sold for $340,000 to 122 Westerly LLC. That’s 30.12 percent over the 2021 assessment. 
• A single-family home in the 300 block of 11th Street NW in the 10th and Page neighborhood sold for $559,000, or 59.17 percent over the 2021 assessment. 

May 28, 2021

• A townhouse unit at the end of Rock Creek Road in Fifeville sold for $321,000. The unit was built in 2010 as part of a planned unit development in a section of the neighborhood that is otherwise single-family residential with some duplexes scattered around. The transaction is 12.12 percent over the 2021 assessment. 
• A 1,230 square foot unit in Walker Square sold for $321,000, which is 1.72 percent under the 2021 assessment. 
• A single-family home in the 300 block of 5th Street SW in the heart of Fifeville sold for $520,000, or 32.25 percent over the assessment. The property last transferred in February 2006 for $385,500. At the time, that was 50.64 percent over the 2006 assessment. 
• A single-family home in the 1100 block of St. Clair Avenue in the Locust Grove neighborhood sold for $315,000. That’s 33.14 percent over the 2021 assessment for a one-story building on a 0.201 acre lot.
• One half of a duplex on Birdwood Court built in 1989 sold for $250,000. That’s 9.75 percent over the 2021 assessment. 
• A single-family home in the 900 block of Altavista Avenue sold for $177,000, or 20.56 percent below the 2021 assessment. However, this appears to be a transaction with a family. 
• A single-family home on the Robinson Woods cul-de-sac in the Barracks / Rugby neighborhood sold for $549,000. That’s 12.99 percent over the 2021 assessment.