Information Charlottesville

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Another month in 2021, another time of interesting activity in the Charlottesville property market. Only a handful are below assessment, and there are quite a number of transactions that are well over assessment. There are a few items of new construction selling on infill properties, two major transactions on the mixed-use section of Cherry Avenue, and new homes in the Belmont Point and Lochlyn Hills neighborhoods continue to sell to their first owner.

What jumps out at you?

July 1, 2021

• A commercial building that has been home to a doctor’s office on 10th Street NE sold for $1,295,000, which is 9.09 percent over the 2021 assessment. The purchaser is Little High LLC.
• A unit in the condominium building on Cream Street sold for $235,500, which is 11.9 percent below the 2021 assessment. The purchaser is Wellington Properties LLC.
• A two bedroom house on Cameron Lane on 0.316 acres in the Lewis Mountain Neighborhood sold for $487,500, or 17.5 percent over the 2021 assessment. 
• A three bedroom house on Goodman Street in Belmont neighborhood built in 1929 sold for $600,000. That’s 52.98 percent over the 2021 assessment. 
• As reported in the July 7, 2021 Charlottesville Community Engagement, Woodard Properties has purchased another couple of properties on Cherry Avenue in an area currently zoned for mixed-use. The company paid $1.55 million for two properties at 801 Cherry Avenue, currently a vacant lot. That’s 41.24 percent over the 2021 assessment. In April, Woodard Properties paid $3.1 million for the Cherry Avenue Shopping Center and five vacant properties behind it. These two lots make up about 0.85 acres.

July 2, 2021

• A 785 square foot unit in Walker Square sold for $240,000, or 3.81 percent over the 2021 assessment. 
• A 624 square foot unit in Walker Square sold for $230,000, or 16.63 percent over the 2021 assessment. 
• Another 785 square foot unit in Walker Square sold for $240,000, or 1.91 percent over the assessment. 
• Evergreen Home Builders purchased three vacant lots directly to the west of the first phase of the South First Street project underway by the Charlottesville Redevelopment and Housing Authority. The purchase price was $435,000.
• A townhouse in the condominium complex on Rock Creek Road sold for $325,000, or 12.5 percent over the 2021 assessment. The unit was built as part of a Planned Unit Development in the Fifeville neighborhood constructed in 2010. 
• A single-family home in the 600 block of Shamrock Road in the Johnson Village neighborhood sold for $380,000. That’s 34.66 percent over the 2021 assessment. The home was built in 1963. 
• A 604 square foot unit in the condominium complex at 1800 Jefferson Park Avenue sold for $185,000, or 17.24 percent over the 2021 assessment. The building was constructed in 1966.
• A second 604 square foot unit at 1800 Jefferson Park Avenue sold for $180,000, or 9.76 percent over the 2021 assessment. 
• A three-bedroom home on Hilltop Road in the Barracks / Rugby neighborhood sold for $600,000. That’s 18.88 percent over the 2021 assessment. 
• A three-bedroom unit in the Ridgecrest townhome community on Greenwich Court sold for $230,000. That’s 24.53 percent over the 2021 assessment for the 1,080 square foot unit apartment. (corrected, 8/13/21)
• A three bedroom townhouse in the 300 block of Quarry Road in Belmont sold for $340,000. That’s 7.77 percent over the assessment. 

July 6, 2021

• A two bedroom house on Huntley Avenue built in 2014 sold for $500,000, or 38.08 percent over the 2021 assessment. 
• A two bedroom house in the 1700 block of Woolen Mills sold for $435,000, which is 32.82 percent over the 2021 assessment. The property is 0.289 acres and the house was built in 1925. 

July 7, 2021

• A 670 square foot unit in the Charlottesville Towers on 1st Street North sold for $180,000, or 4.41 percent over the 2021 assessment. The condominium building was built in 1967.
• A three bedroom unit in the Lochlyn Hill neighborhood constructed in 2018 sold for $957,000. That’s 2.55 percent below the 2021 assessment and 14.15 percent above the 2020 assessment. 

July 8, 2021

• A three bedroom townhouse on Rainier Road in the Cherry Hill development sold for $428,000, or 17.36 percent over the 2021 assessment. 
• Another three bedroom townhouse on Rainier Road sold for $376,000, or 2.34 percent over the 2021 assessment. This community in the Fry’s Spring neighborhood was built in 2007 as part of a Planned Unit Development. 
• A four bedroom home on Edgewood Lane in the Venable neighborhood sold for $1.49 million, or 62.27 percent over the 2021 assessment. 
• A two bedroom home in the 900 block of Altavista Avenue in Belmont sold for $250,000. That’s 24.25 percent over the 2021 assessment. 

July 9, 2021

• A two-bedroom unit in the McGuffey Hill condominium complex sold for $425,000, which is 30.77 percent over the 2021 assessment. The 2020 assessment was $381,300, making this transaction 11.46 percent over that figure. 
• A six bedroom house in the 400 block of West High Street sold for $1,249,000, which is just 0.9 percent over the 2021 assessment. The 2020 assessment was higher at just over $1.4 million. 
• An entity called Charlottesville Corporate Housing LLC purchased a five bedroom house on Price Avenue in the Jefferson Park Avenue neighborhood sold for $675,000, which is 35.95 percent over the 2021 assessment.  

July 12, 2021

• A three bedroom house in the 200 block of Lanford Avenue sold for $401,200, which is 10.61 percent over the 2021 assessment. The structure in the Ridge Street was built in 2020. 
• A six bedroom structure in the 500 block of Rockland Avenue in the Ridge Street neighborhood sold for $385,000, which is 21.72 percent over the 2021 assessment. The house was built in 1949.
• A vacant lot on Cherry Avenue that has an address of 406 7 ½ Street SW sold for $400,000 to Project New Life LLC. In June, that entity purchased the adjacent property and house at 336 7 ½ Street. It will be very interesting to see what their plans will be. The sales price is 127.7 percent over the 2021 assessment. 

July 13, 2021

• A three bedroom townhouse on Waterbury Court in the Ridgecrest community in the Belmont neighborhood sold for $216,500. That’s 21.63 percent over the 2021 assessment. 
• A three bedroom house on Fairway Avenue in Woolen Mills sold for $403,000, which is 34.51 percent over the 2021 assessment. There are no recent building permits available on the city’s portal. 

July 14, 2021

• A four bedroom home in the 800 block of Page Street in the 10th and Page neighborhood sold for $428,000, which is 3.51 percent over the 2021 assessment. At some point in 2020, the assessor’s office took a look at the building permits and must have seen that much of the home’s interior was replaced in 2019 following a fire. The 2020 assessment was $130,800. This house was built in 1959 and has remained in the same family until this transaction. 
• A four bedroom unit in a fourplex on Stribling Avenue sold for $330,077, which is 27.03 percent over the 2021 assessment. 
• A three bedroom house built in 2004 as part of the first phase of Burnet Commons sold for $480,000. That’s 15.11 percent over the 2021 assessment. 
• A three bedroom house on Blenheim Avenue in Belmont built in 2006 sold for $545,000, or 18.02 percent over the 2021 assessment. 
• A three bedroom house on Cynthianna Avenue in the Rose Hill neighborhood sold for $537,700, or 155.44 percent over the 2021 assessment. A search of building permits brings up work done in 2010 but nothing more recent for this house built in 1925.

July 15, 2021

• A five bedroom house on Village Road in the Johnson Village neighborhood built in 2008 as part of a Planned Unit Development sold for $797,000. That is 10.77 percent over the 2021 assessment. 
• A three bedroom house on Willard Road in the Fry’s Spring neighborhood sold for $394,000. That’s 24.37 percent over the 2021 assessment. 
• Nearby in the same neighborhood, a three bedroom house on McElroy Drive sold for $326,000, which is 13.47 percent over the 2021 assessment. 
• A firm called 2711 Eton LLC purchased 2711 Eton Road for $295,000. The property is assessed at $428,500, making the transaction 31.16 percent below the 2021 assessment. The three bedroom house was constructed in 1950. 
• A two bedroom house on Bolling Avenue in Belmont sold for $400,000, which is 11.98 percent over the 2021 assessment of $357,200. 
• A three bedroom unit in the Rialto Beach Planned Unit Development sold for $529,000, or 10.72 percent over the 2021 assessment. 
• An entity called Forensus Group RE LLC purchased a three bedroom house at 904 Avon Street sold for $467,000, which is 75.23 percent over the 2021 assessment. 

July 16, 2021

• A three bedroom house built in 2001 on Elm Street in the Fifeville neighborhood sold for $289,000. That’s 12.67 percent over the 2021 assessment. 
• A 536 square foot unit in the apartment building at 1800 Jefferson Park Avenue sold for $169,900, which is 20.84 percent over the 2021 assessment. 

July 19, 2021

• A 403 square foot unit at 1800 Jefferson Park Avenue sold for $144,900. That’s 8.22 percent over the 2021 assessment. 
• A three bedroom house recently completed in the Belmont Point subdivision on Stonehenge Avenue Extended sold for $470,784. City Council approved a rezoning for the project in 2013. 

July 20, 2021

• A four bedroom house on Yorktown Drive in the Greenbrier neighborhood sold for $850,000, which is 51.25 percent over the 2021 assessment. The property is 0.631 acres and is currently zoned R-1. 
• A firm called Estes EVT LLC purchased three four bedroom townhouses on 9th Street SW in Fifeville for $1.179 million. That’s 21.721 percent over the 2021 assessments for the three buildings. 
• A three bedroom house on Trailridge Road in the Johnson Village neighborhood sold for $405,000, or 16.45 percent of the 2021 assessment. 
• A two bedroom house on Mulberry Avenue in Fry’s Spring sold for $315,000, which is 72.51 percent over the 2021 assessment. 

July 21, 2021

• A three bedroom house on 2nd Street N.E. built in 1911 in North Downtown sold for $1.845 million over the 2021 assessment. That’s nine percent over the 2021 assessment. 
• A four bedroom house on Graves Street in Belmont sold for $422,500, which is 16.94 percent over the 2021 assessment. 
• A four bedroom house in the 900 block of Montrose Avenue sold for $360,500, which is 64.61 percent over the 2021 assessment. 
• A three bedroom house recently completed in the Belmont Point subdivision sold for $450,825. The vacant 0.0870 acre lot was assessed in 2021 at $112,500. 
• One half of a duplex on 5th Street Extended in the Fifeville neighborhood sold for $185,000. That’s 38.99 percent over the 2021 assessment. 
• An 830 square foot unit on the 9th floor of the apartment building at 1800 Jefferson Park Avenue sold for $225,000. That’s 5.88 percent over the 2021 assessment. 

July 22, 2021

• A three bedroom townhouse on Danbury Court in the Ridgecrest neighborhood sold for $212,000, which is 14.29 percent over the 2021 assessment. 

July 23, 2021

• A vacant lot on Oxford Road in the Barracks / Rugby neighborhood sold for $410,000. The 0.527 acre property is zoned R-1S and assessed at $199,000. 
• A 365 square foot in Cedars Court in the Meadows neighborhood sold for $90,000. That’s 28.02 percent over the 2021 assessment. 
• A three bedroom house on Banbury Street in the Greenbrier neighborhood sold for $294,424. The purchaser is the Federal National Mortgage Association and the transaction 6.32 percent below the 2021 assessment. The property is 0.53 acres and zoned R-1. 
• A three bedroom house on Kerry Lane in the Greenbrier neighborhood sold for $539,000. That’s 33.28 percent over the 2021 assessment. Repairs were made in late 2019 after tree damage including a new chimney. 
• A three bedroom house in the 1400 block of Hazel Street in the Martha Jefferson sold for $475,000, which is 49.27 percent over the 2021 assessment. 
• A three bedroom townhouse in the Ridgecrest community in Belmont sold for $235,100, which is 8.19 percent over the 2021 assessment. 
• A three bedroom house just built on Stonehenge Avenue Extended sold for $470,311. The lot was assessed in 2021 at $125,000.

July 26, 2021

• A recently built single family house on Long Street between Locust Avenue and St. Clair Avenue sold for $332,262. The lot had been vacant. 
• A three bedroom house on Hardwood Avenue in the Barracks / Rugby Avenue sold for $755,000, which is 80.28 percent over the 2021 assessment. An addition was put on the house in 2018.
• The Genesis Management Corporation purchased a two bedroom house in the 700 block of Altavista Avenue for $250,000. That’s 54.61 percent over the 2021 assessment.

July 27, 2021

• A three bedroom home built in 2006 as part of the St. Charles Place Planned Unit Development sold for $480,000, which is 9.79 percent over the 2021 assessment. 
• A three bedroom home built in 1961 on Kenwood Lane in the Greenbrier neighborhood sold for $450,000. That’s 31.23 percent over the 2021 assessment. The house sits on 0.376 acres and is on property zoned R-1. 
• A two bedroom house on Vine Street in Belmont sold for $290,000, which is 4.77 percent over the 2021 assessment and 24.84 percent over the 2020 assessment. The property is zoned R-2 and is 0.172 acres. 
• A three bedroom house on 0.3 acres on Azalea Drive in Fry’s Spring sold for $400,000, which is 26.46 percent over the 2021 assessment. 
• A three bedroom house on 0.193 acres on Forest Ridge Road in Fifeville sold for $376,000, which is 32.67 percent over the 2021 assessment. 

July 28, 2021

• A 1,525 square foot unit in the Lewis and Clark Building at the intersection of Ridge-McIntire and West Main Street sold for $695,000. That’s 15.66 percent over the 2021 assessment for this space on the 7th floor. 
• A three bedroom house on Monte Vista Avenue in Fry’s Spring sold for $320,000. That’s 7.35 percent over the 2021 assessment. 
• A two bedroom house in the 1500 block of Broad Avenue in the Fry’s Spring neighborhood sold for $330,000, or 5.53 percent over the 2021 assessment. 
• A three bedroom townhouse recently built on Longwood Drive sold for $356,604. The lot was assessed at $29,500 this year. 

July 29, 2021

• A two bedroom unit in the Monticello Overlook apartment building sold for $198,000, which is 10.92 percent over the 2021 assessment. The apartment is 829 square feet. 
• Another three bedroom townhouse recently this year on Longwood Drive sold, but this one went for $385,618. This lot was also assessed at $29,500 this year. 
• New construction in the 900 block of Forest Street in the Rose Hill neighborhood sold for $470,895. The three-story, three-bedroom home is built on a lot 0.058 in size. Daddy Rabbit bought the property in July of last year for $35,000 and built the structure. 

July 30, 2021

• A vacant 0.368 acre lot on Landonia Circle in the Locust Grove neighborhood sold for $300,000 to a company called Mount View Properties LLC. A firm called Landonia LLC had bought the R-2 zoned land in March 2019. 
• A three bedroom home just constructed in the city’s side of the Lochlyn Hill neighborhood sold for $762,127. The lot was assessed at $140,000 this year.
• A three bedroom home on Sycamore Street in the Locust Grove neighborhood sold for $445,000. That’s 2.94 percent over the 2021 assessment, and 31.11 percent over the 2020 assessment.
• An office building built in 2020 at 715 Charlton Avenue in the Rose Hill neighborhood sold to Lillard and Durrani LLC for $1,685,000. That’s 7.25 percent over the 2021 assessment. 
• A three bedroom house in the 1600 block of Cherry Avenue sold for $373,000, which is 31.38 percent over the 2021 assessment. 
• A one-story commercial building at 738 1st Street South sold for $150,000 to a company called 740 1st Street South LLC. They also own that address, having purchased it in November 2015.