Another month of transactions worth reviewing for anybody interested in land use in the city of Charlottesville. I don’t offer any trends or analysis here, except that most properties continue to sell above the assessed value. There are not any major commercial transactions this month, unless you count where an LLC purchases a residence or two.
I always hope to get these out faster, but it takes time to process. I could likely have a computer automate this to make it easier, but I manually look up each transaction in order to have a better sense of what’s happening with the real estate market. As I continue to write about the Cville Plans Together initiative, I find it very important to document all of these transactions about the here and now.
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June 1, 2021
- A home built in 1955 in the 1300 block of Hilltop Road in the Barracks / Rugby neighborhood sold for $1.03 million. That’s actually 22.04 percent below the 2021 assessment.
- A two-bedroom home built in 1955 in the 700 block of Lexington Avenue in the Martha Jefferson neighborhood sold for $550,000. That’s 47.45 percent over the 2021 assessment. According to a listing on realtor.com, a new roof was put on in 2020 and a new heat pump was installed this year. The listing also states that it is a “great candidate for expansion, up and out!”
- A three-bedroom home built in 1956 on Harris Road in the Fry’s Spring neighborhood sold for $452,000, or 37 percent over the 2021 assessment.
- Next door is another home built in 1956 that sold for $410,000, or 39.6 percent over the 2021 assessment.
- A 996 square foot unit in the Linden Town Lofts sold for $283,000. That’s 14.07 percent over the 2021 assessment of $248,100 and 27.48 percent over the 2020 assessment of $222,000.