March 2023 Property Transactions in Charlottesville: Details of a slower month than usual
I’m a bit behind in getting out these anecdotal accounts of property transactions in the area. There’s no time like the present to get to work, so here we are with an analysis-free version for March. As with the past 26 months, I’m interested in finding out how current sales relate to 2022 and 2023 assessments. There were double-digit increases in average assessment both years, and it’s not too early to thinking about what they may be for 2024.
I also do this work to try to understand what mechanisms are used to keep houses built to be affordable stay affordable. Take a look at March 9 to see some of this and to see how rising assessments push up the cost of keeping things below-market. There’s also a transaction from March worth noting.
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