Welcome to the third edition of my summary of property transactions in Albemarle County. I do this to better understand a community I first began reporting on in 2007 but haven’t lived in for nearly 20 years. I spent a year off on land that’s now North Pointe before moving to Charlottesville.
I’ve produced 26 reports on property transactions in Charlottesville. That work is motivated by a desire to better understand how the property market works at a time of low inventory and to better track any changes that come about due to the new Future Land Use Map and the future zoning.
In addition to teaching me a little more about geography, this work in Albemarle is also intended to get a better sense of how the market works. I don’t know enough to offer trends, but I am hopeful that this work over time will build up my sense of knowledge about a county I’ve written hundreds of stories about over the years. I also want to see how well the 2023 assessments compare to actual sales. I love to do that one transaction at a time.
I hope this builds up your knowledge as well. That’s the whole point of Charlottesville Community Engagement. And if you have any information to share, please do so!
This does go out to paid subscribers first, but will be posted to Information Charlottesville at some point. One in four subscribers contribute financially and that’s how I hope to keep going. If you do become a subscriber through Substack, Ting will match your initial payment.
As you are a paid subscriber, please feel free to email this on to other people!
But what jumps out at your in this?
January 23, 2023
- A newly-built three bedroom house built on Fowler Street in the Belvedere subdivision sold for $488,869. That’s 1.42 percent below the 2023 assessment of $495,900. (Rio District)
- A three bedroom house built in 1973 on 2.76 acres on Doctors Xing near Stony Point sold for $450,000. That’s 18.48 percent over the 2022 assessment of $379,800 and 8.23 percent over the 2023 assessment of $415,800. (Rivanna District)
- A six bedroom house on Brownstone Lane built in 2000 in the Still Meadow neighborhood and remodeled in 2021 sold for $765,000. That’s 3.62 percent above the 2022 assessment of $738,300 and 7.49 percent below the 2023 assessment of $826,900. (Rio District)
- A newly built three bedroom townhouse on Empire Street built in the new Berkmar Overlook community sold for $442,710. That’s 2.49 percent below the 2023 assessment of $442,710. (Rio District)
- One half of a duplex with four bedrooms on Hummingbird Lane in the Briarwood neighborhood sold for $275,000. That’s 8.06 percent below the 2023 assessment of $299,100. (Rivanna District)
January 24, 2023
- A cabin on 4.88 acres near Castle Rock Mountain sold for $75,000. That’s 35.12 percent below the 2023 assessment of $115,600. This is still considered a valid sale. (Samuel Miller District)
- A firm called NVR Inc purchased four newly built townhouses on Marsac Street in the new Berkmar Overlook for $460,000. Or are they just lots? My knowledge of Albemarle’s GIS system exposes a question I have. Is this $460,000 a piece, or $460,000 for all of them? Are they completed yet? I’m not sure but I love learning on the fly. I don’t think they’re completed because the assessment for each one is $115,000 and that times four is the purchase price. (Rio District)
January 25, 2023
- A three bedroom house on Stoney Creek Drive in Mill Creek South sold for $420,000. That’s 0.6 percent above the 2022 assessment of $417,500 and 6.08 percent below the 2023 assessment of $447,200. (Scottsville District)
- A 900 square foot two bedroom unit in the Parkside / Eagle’s Landing complex sold for $157,000. That’s 4.11 percent over the 2022 assessment of $150,800 and 4.5 percent below the 2023 assessment of $164,400. The purchaser is KCPSAN Holdings LLC. (Scottsville District)
- An office building at 2309 Commonwealth Drive sold for $530,000. That’s 12.10 percent over the 2023 assessment of $472,000. The purchaser is WWFG LLC. (Rio District)
- A 6.03 acre property off of Simmons Gap Road sold for $130,000. This is near an unincorporated place called Wilhait. Wikipedia doesn’t have much to say about the subject. The transaction is 0.15 percent over both the 2022 and 2023 assessment. (White Hall District)
- The adjacent property is 8.01 acres also sold to the same purchaser. The price was $150,000. That’s 2.53 percent below the 2022 and 2023 assessment of $153,900. (White Hall District)
January 26, 2023
- A three bedroom house built in 1974 on Rolling Road sold for $185,000. That’s 7.31 percent below the 2022 assessment of $199,600 and 14.63 percent below the 2023 assessment of $216,700. This is near Overton according to whatever powers Google Map. (Scottsville District)
- A newly constructed four-bedroom townhouse on Horizon Drive in the first phase of the Southwood redevelopment sold for $426,945. That’s 3.95 percent below the 2023 assessment of $444,500. (Scottsville District)
- A three bedroom house on Hammocks Gap Road sold for $440,000. That’s 17.36 percent above the 2022 assessment of $374,900 and 4.12 percent below the 2023 assessment of $458,900. (Rivanna District)
- A newly-built five bedroom house on Eagle View south of Lickinghole Basin sold for $1,406,340. That’s 47.59 percent over the 2023 assessment of $952,900. (White Hall District)
- A four bedroom house built in 2020 on the cul-de-sac end of Saunders Hill Road in the Glenbrook neighborhood in Crozet sold for $625,000. That’s 27.89 percent over the 2022 assessment of $488,700 and 8.51 percent over the 2023 of $576,000. (White Hall District)
- A three bedroom townhouse built in 1993 in Forest Lakes sold for $287,500. That’s 6.17 percent over the 2022 assessment of $270,800 and 8.5 percent below the 2023 assessment of $314,200. (Rivanna District)
January 27, 2023
- A three bedroom house built in 1996 on Old Green Mountain Road sold for $467,500. That’s 10.18 percent over the 2022 assessment of $424,300 and 4.33 percent over the 2023 assessment of $448,100. This property in the Megan’s Meadow neighborhood is halfway between Howardsville and Esmont. (Samuel Miller District)
- A four bedroom house built in 2022 on Anoko Court in the Avon Park neighborhood sold for $460,000. That’s 5.62 percent below the 2023 assessment of $487,400. (Scottsville District)
- A two bedroom log cabin built in 1754 and remodeled in 1979 sold for $220,000. That’s 3.08 percent below the 2022 assessment of $227,000 and 21.46 percent below the 2023 assessment of $280,100. This property is on Clark’s Tract. (Rivanna District)
- A newly built four bedroom house on Belluno Court in the Ashcroft neighborhood sold for $1,092,305. That’s 49.51 percent above the 2023 assessment of $730,600. (Rivanna District)
- A newly built three bedroom townhouse on Fowler Court in Belvedere sold for $542,390. That’s 5.5 percent over the 2023 assessment of $514,100. (Rio District)
- A three bedroom townhouse unit in the new Brookhill Commons development on Wesley Lane sold for $366,930. That’s 2.85 percent below the 2023 assessment of $377,700. (Rivanna District)
January 30, 2023
- A three bedroom house on Spring Mountain Road in Mill Creek sold for $384,000. That’s 0.49 percent below the 2022 assessment of $385,900 and 9.18 percent below the 2023 assessment of $422,800. (Scottsville District)
- A newly built five bedroom house on Dunwood Drive in Glenbrook near Crozet sold for $499,580. That’s 10.55 percent over 2023 assessment $451,900. (White Hall District)
- A four bedroom house on Cardinal Ridge Road in Whipporwill Hollow sold for $725,000. That’s 16.37 percent over the 2023 assessment of $623,000. The house was built in 1986. (Samuel Miller District)
- A newly built three bedroom townhouse on Empire Street in the Berkmar Overlook neighborhood between Woodburn Road and Berkmar Drive sold for $412,105. That’s 39.46 percent over the 2023 assessment of $412,105. (Rio District)
- A 0.47 acre undeveloped lot on Old Orchard Road in Free Union sold for $90,000. That’s 12.2 percent over the 2023 assessment of $102,500. (White Hall District)
January 31, 2023
- A three bedroom house on Heathcote Lane built in 1995 in the Glenmore neighborhood sold for $800,000. That’s 9.45 percent over the 2023 assessment of $730,900. (Scottsville District)
- A two bedroom house on Kirkwood Court built in 1996 in the Glenmore neighborhood sold for $495,000. That’s 1.85 percent over the 2022 assessment and 4.84 percent below the 2023 assessment. The purchaser is Tee Time LLC. (Scottsville District)
- A 97.48 acre lot in the Bundoran Farm area sold for $550,000. That’s 39.55 percent below the 2023 assessment of $909,800. This property has a land use value of $38,200. How does that factor into the sale? Does the new owner automatically qualify? (Samuel Miller District)
- S&B Realty Venture LLC purchased 1580 Seminole Trail for $965,000. That’s 49.40 percent below the 2023 assessment of $1,907,100. Brown Collision Center will relocate here, as I reported on December 9, 2022. (Rio District)
- A three bedroom on Beau-Pre Lane off of Garth Road built in 1930 and remodeled in 1972 sold for $3 million. The house sits on 10.2 acres. That’s 27.35 percent over the 2023 assessment of $2,355,700 and 58.55 percent over the 2022 assessment. The purchaser is Dogwood Lane Properties. (Samuel Miller District)
- A four bedroom house on Rookwood Place in Ednam Forest built in 1988 sold for $1,512,500. That’s 17.94 percent below the 2023 assessment of $1,843,100.
Questions? Corrections? Comments? Let me know in the comments!
