Sales of Charlottesville luxury homes have been booming as wealthy buyers flee New York, Washington, D.C., and Richmond. Also, due to the limited inventory of move-in ready homes, Charlottesville luxury home prices have increased by 11.7% since this time last year.
Charlottesville luxury home buyers are beginning to realize that a five day work week can now be spread out as long or as short as they want, as long as their work gets done. They also don't require to work from an office outside their residence (which means bad news for the Charlottesville commercial markets).
Fortunately, Charlottesville and Albemarle County is not on lock down. However, for everyone's safety the following restrictions apply to the entirety of Albemarle County and City of Charlottesville:
- Face coverings are required in all public areas.
- The maximum number of individuals permitted at a social gathering, indoors or outdoors, is 10.
- The 10-person gathering limit does not apply to restaurants, wineries and breweries for normal business operations. The limit does apply, however, to venue rentals at these aforementioned business types.
- Consumption and possession of alcohol is prohibited after 10 p.m. at any restaurant, dining establishment, food court, brewery, distillery, winery, or tasting room.
- A curfew is in effect between the hours of 12:00 am-5:00 am.
Also noted at this time - Covid-19 vaccines are slowly being released in Charlottesville and Albemarle County.
"The COVID-induced Charlottesville real estate market is like no other," says Toby Beavers, a Charlottesville luxury realtor since 2003. "Heed my advice, in today's unusual real estate boom, our local buyers are looking for immediate occupancy. But to do so it's important that you have previously spoken to a lender, been pre-approved, and work with a knowledgeable Charlottesville luxury realtor (if you want to save money and not pay full price). We are seeing a greater sales increase in Charlottesville luxury condos and townhouses as out-of-town buyers quickly learn that living pent-up in an apartment in New York for years is not their idea of a quality life. Once they realize what Charlottesville has to offer, they quickly see the benefits of living in a college town full of history, great golf courses, and excellent schools."
Charlottesville luxury townhouses are also flying off the shelf and most will not be ready until late Fall or Winter of 2021.
Meanwhile sales and prices are rising in high end communities such as Farmington, Glenmore, and Keswick Estates. Anything new or remodeled (90% don't want to purchase a home and then have do a lot of work) is selling quickly (as long as the price is not out-of-line).
Move-in ready Crozet luxury homes by Stanley Martin, Craig Builders, and Southern Development are also popular. "This mind-boggling trend isn't expected to slow for those who can afford new Charlottesville luxury homes," Beavers adds.
Meanwhile, many Charlottesville luxury condo owners are putting their condos back on the market knowing they can command top dollar from New Yorkers looking for some fresh air and a wonderful lifestyle.
https://www.youtube.com/watch?v=97vMFOlksNk
Those interested in learning more about Charlottesville luxury homes or the real estate market in the Charlottesville area should contact Charlottesville Real Estate Agent Toby Beavers by calling 434-327-2999. Toby Beavers can also be reached by visiting his website at https://www.tobybeaversrealtor.com.
