Information Charlottesville

This is definitely a much slower month, anecdotally speaking. At some point, I am hoping something will click and I’ll be able to present the data in ways that can more clearly show trends. But that’s not the point of this monthly newsletter on property transactions in the city of Charlottesville.

The point is for me as a person who lives here and a longtime journalist to go through and know who is purchasing what properties. I only identify purchasers or sellers if they are corporate entities. I am not trying to point out patterns. I just find this to be a useful exercise that helps me better understand the city where I live and a beat for which people pay me to cover. 

In many cases, I list both the 2021 and the 2022 assessment to show how much these increased in Charlottesville over that period. It’s not too early to think about what the 2023 assessments will be and how they have been affected by the market this year. 

This is one of a handful of items that paid subscribers to Charlottesville Community Engagement get to see first. I am hoping to add more such features soon and as I become more efficient. I am very supportive of all of the people who have opted to pay for a subscription to help keep me going. Everyone gets to see this bit, but paid subscribers get a five-day preview before it’s posted to Information Charlottesville.

September 1, 2022

• A three bedroom house built in 2002 on Locust Lane in the Locust Grove neighborhood sold for $330,000. That’s 27.46 percent over the 2021 assessment of $258,900 and 5.26 percent over the 2022 assessment of $313,500. (General Residential, 0.0830 acres)
• There’s a new owner of a small retail strip building on Angus Road and the Ultimate Bliss store. Broadwood Holdings 2 LLC purchased two properties for $1.4 million. The deal also includes a vacant parcel behind the strip building, which houses Canipe Brothers Bar & Grill. The sales price is 20.73 percent over the 2022 assessment of $1,156,900. (Urban Mixed Use Node, 0.877 acres)
• A four bedroom house in the 400 block of 2nd Street NE sold for $1.9 million. That’s 18.41 percent over the 2022 assessment of $1,604,600. This structure was built in 1839. 
• An apartment building with at least six bedrooms on Plateau Road in the Jefferson Park Avenue neighborhood sold for $520,000. That’s 49.21 percent above the 2021 assessment of $348,500 and 9.96 percent below the 2022 assessment of $577,500. (Higher Intensity Residential, 0.258 acres)

September 2, 2022

• There’s a new owner of the English Inn by the U.S. 29 / U.S. 250 interchange. Jala Investments of Henrico County paid $11 million for the 2.911 acre property. That’s 54.37 percent over the combined 2022 assessment of $7,125,800. (Urban Mixed Use Node, 2.911 acres)

September 6, 2022

• A three bedroom house in the 1000 block of Park Street in the Locust Grove neighborhood sold for $465,000. That’s 31.68 percent over the 2022 assessment of $353,500. (Medium Intensity Residential, 0.292 acres)
• An undeveloped 0.102 acre lot on Parkway Street in the North Downtown neighborhood sold for $180,000. The purchaser is Des Construction. The transaction is 1.07 percent over the 2021 assessment of $178,100 and 9.77 percent below the 2022 assessment of $199,500. (Medium Intensity Residential, 0.102 acres)

September 8, 2022

• A three bedroom house in the 700 block of Nalle Street in the Fifeville neighborhood sold for $550,000. That’s 24.04 percent over the 2022 assessment of $443,400. (General Residential – Sensitive Communities, 0.12 acres)

September 9, 2022

• A two bedroom house on Early Street in the Belmont neighborhood sold for $275,000. That’s 35.47 percent over the 2022 assessment of $203,000. (General Residential, 0.18 acres)

September 12, 2022

• Hauscraft LLC purchased a pair of homes in the 1600 block of Monticello Road for $428,000. That’s 12.01 percent over the 2021 combined assessment of $382,100 for both homes, and 1.99 percent below the 2022 assessment of $436,700. (Medium Intensity Residential, 0.453 acres)
• A three bedroom house in the 600 block of Moseley Avenue in the Fry’s Spring neighborhood sold for $370,000. That’s 16.1 percent over the 2021 assessment of $318,700 and 5.47 percent over the 2022 assessment of $350,800. (General Residential, 0.231 acres)
• A 715 square foot unit with one bedroom in the Walker Square apartment complex in the Fifeville neighborhood sold for $265,000. That’s 22.4 percent over the 2022 assessment of $216,500. (High Intensity Residential, N/A)

September 13, 2022

• A three bedroom townhouse on Linden Avenue in the Belmont neighborhood sold for $329,000. That’s 19.29 percent over the 2021 assessment of $275,800 and 5.69 percent above the 2022 assessment of $311,300. (General Residential – Sensitive Communities, N/A)
• A three bedroom townhouse on Waterbury Court in the Belmont neighborhood sold for $256,625. That’s 30.93 percent over the 2022 assessment of $196,000. (General Residential, N/A)

September 15, 2022

• A five bedroom house on Harmon Street near Scott Stadium in the Jefferson Park Avenue neighborhood sold for $400,000. The purchaser is Downeast Properties LLC. The transaction is 9.83 percent over the 2021 assessment of $364,200 and 0.96 percent over the 2022 assessment of $396,200. (High Intensity Residential, 0.14 acres)

September 16, 2022

• A 919 square foot two bedroom unit in the Monticello Overlook building sold for $225,000. That’s 12.5 percent over the 2022 assessment of $200,000. 
• The Joy gas station on East High Street has sold for $370,000. The new owner is JP37LLC, which has a registered agent with an Albemarle County address. That sales price is 2.53 percent below the 2022 assessment of $379,600. (Urban Mixed Corridor, 0.2 acres)

September 19, 2022

• A three bedroom house in the 200 block of Azalea Drive in the Fry’s Spring neighborhood sold for $425,000. That’s 17.76 percent over the 2022 assessment of $360,900. (General Residential, 0.2 acres)
• A three bedroom house in the 1600 block of Meadowbrook Heights Road in the Greenbrier neighborhood sold for $610,000. That’s 23.53 percent over the 2022 assessment. (Medium Intensity Residential, 0.35 acres)

September 20, 2022

• A multifamily building constructed in 1936 on Valley Road sold for $400,000 to an individual. This is one of properties that had been purchased by Jeffersonian LLC in December 2021. This purchase price is 18.7 percent below the 2022 assessment of $492,000. (Medium Intensity Residential, 0.12 acres)
• A three bedroom townhouse on Brookwood Drive in the Ridge Street neighborhood sold for $360,000. That’s 24.96 percent above the 2021 assessment of $288,100 and 6.16 percent over the 2022 assessment of $331,900. (Medium Intensity Residential, 0.032 acres)
• A three bedroom house in the 900 block of Monticello Avenue sold for $275,000. That’s 20.38 percent below the 2022 assessment of $345,400. (General Residential, 0.114 acres)
• A three bedroom townhouse with 1,338 square feet in the mixed-use development at 1130 East High Street sold for $470,000. That’s 7.38 percent above the 2022 assessment of $437,700. This is the second time the unit has sold. (this item was corrected following publication)

September 21, 2022

• A two bedroom house in the 300 block of Palatine Avenue in the Belmont neighborhood sold for $240,000. That’s 14.89 percent over the 2022 assessment of $208,900. The house was last purchased by Raflev Enterprises in June 2019 for $165,000. (General Residential, 0.12 acres)
• An entity known as Brower Limited Partnership has purchased 604 Cynthianna Avenue in the Rose Hill neighborhood for $315,000. The property has been the site of a dog kennel. The sales price is 22.71 percent over the 2022 assessment of $256,700. The company owns the adjacent property at 925 Harris Street. (Business and Technology Mixed Use, 0.143 acres)
• A 1,119 square foot two-bedroom unit in the Walker Square apartment complex sold for $400,000. That’s 27.19 percent over the 2022 assessment of $314,500. (Higher Intensity Residential, N/A)
• A lot of people noticed that the Waffle House on Fifth Street Extended closed. An entity called 1162 5th Street SW purchased the property for $775,000. That’s 4.05 percent over the 2022 assessment of $744,800. (Business Mixed Use Corridor, 0.58 acres)

September 22, 2022

• A four bedroom house in the 700 block of Village Road sold for $510,000. That’s 39.23 percent over the 2022 assessment of $366,300. (General Residential, 0.214 acres)
• A five bedroom house in the 1000 block of Long Street in the Martha Jefferson neighborhood sold for $565,000. That’s 51.35 percent over the 2022 assessment of $373,300. The previous owner made several renovations in the early 2010’s. (General Residential, 0.22 acres)

September 23, 2022

• A four bedroom townhouse in the 100 block of Longwood Drive sold for $390,000. That’s 9.98 percent over the 2022 assessment of $354,600. (Medium Intensity Residential, 0.03 acres)
• A four bedroom house constructed this year on Piedmont Avenue South in the Jefferson Park Avenue neighborhood sold for $279,900. The seller is Habitat for Humanity of Greater Charlottesville as one of their infill developments. That’s 16.77 percent over the listed 2022 assessment of $239,700, but the assessment also shows $0 for land value. (High Intensity Residential, 0.104 acres)

September 26, 2022

• A narrow vacant lot on Berring Street in the Ridge Street neighborhood sold for $67,628. The 2022 assessment for the land is $54,300, making this transaction 24.55 percent over that amount. Citimortgage LLC is the new owner. A structure existed on the property until at least 2016. (General Residential, 0.111 acres)
• A three bedroom house on Glenn Court in the Greenbrier neighborhood sold for $465,000. That’s 19.23 percent over the 2021 assessment of $390,000 and 2.56 percent above the 2022 assessment of $453,400. (General Residential, 0.38 acres)

September 27, 2022

• A four bedroom house on Winston Road sold for $650,000. That’s 21.28 percent below the 2022 assessment of $825,700. The 2020 assessment was $764,600. (General Residential, 0.41 acres)
• A three bedroom house in the 300 block of 6th Street SW in the Fifeville neighborhood sold for $280,000. That’s 11.82 percent above the 2022 assessment of $250,400. (General Residential – Sensitive Communities, 0.072 acres)
• The building that houses the restaurant Tavola at 826 Hinton Avenue sold for $2.3 million to Silver Rails LLC, whose registered agent is located at the same address. This property was up-zoned to Neighborhood Commercial Corridor in the 2003 zoning. Someone had purchased the property in April 1999 for $60,000. It was next purchased in January 2005 for $390,000 and again in October 2006 for $525,000. This latest transaction is 374.62 percent over the 2022 assessment of $484,600. (Neighborhood Mixed-Use Corridor, 0.08 acres)
• A three bedroom house on Holmes Avenue in the Locust Grover neighborhood sold for $380,000. That’s 52.37 percent over the 2022 assessment of $249,400. (General Residential, 0.173 acres)

September 28, 2022

• A four bedroom house on Martin Street in the Locust Grove neighborhood sold for $393,000. That’s 25.28 percent over the 2022 assessment of $313,700. (General Residential, 0.177 acres)

September 29, 2022

• A 536 square foot two-bedroom unit in the apartment complex at 1800 Jefferson Park Avenue sold for $165,000. That’s 4.04 percent over the 2021 assessment of $158,600 and 5.39 percent below the 2022 assessment of $174,400. (Urban Mixed Use Corridor, N/A)
• A three bedroom house on Stribling Avenue in the Fry’s Spring neighborhood sold for $343,000. That’s 6.55 percent over the 2021 assessment of $321,900 and 4.27 percent below the 2022 assessment of $358,300. (Medium Intensity Residential, 0.18 acres)
• A three bedroom house on Cargil Lane in the North Downtown neighborhood sold for $700,000. That’s 19.29 percent over the 2022 assessment of $586,800. (General Residential, 0.273 acres)
• A four bedroom house in the 2000 block of Greenbrier Drive sold for $535,000. That’s 15.8 percent over the 2022 assessment of $462,000. (Medium Intensity Residential, 0.3 acres)

September 30, 2022

• A three bedroom constructed this year on Forest Street in the Rose Hill neighborhood sold for $489,900. That’s 7.81 percent over the 2022 assessment of $454,400. Loft Realty and Investments LLC purchased the property and former house for $125,000 in October 2018. (Medium Intensity Residential, 0.68 acres)
• A recently renovated four bedroom house in the 1000 block of St. Clair Avenue sold for $570,000. That’s 74.95 percent over the 2022 assessment, but that’s not the whole story. A search of the city’s building permits indicates that a remodeling of the kitchen and a new addition were completed earlier this year. (General Residential, 0.17 acres)

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Concluding notes:

The entry for the last property on realtor.com included a notice that the seller would agree to pay $5,000 toward closing costs. For the entire time I’ve been doing these monthly transactions, it feels like the market is changing rather than continuing to surprise me with higher and higher sales prices. However, I’m a journalist and I need to back up “feelings” with something I can point to to demonstrate a trend. So get ready for October transactions coming this November!