Albemarle Property Transactions - June 1 through June 7, 2023

Attempting the resumption of an anecdotal summary of what's happening in Albemarle County's real estate market

Earlier this year, I decided to begin summarizing property transactions in Albemarle. The county has much more land and many more people than Charlottesville. Recapping January took three installments.

Unfortunately, I was unable to get to February. There have been complications in my life this year that I have discussed elsewhere. So I’m going to start back with June and hope for the best as the second half of 2023 unfolds.

Does anyone have an instruction manual?  I don’t, so I just improvise my way through most of this life.

I began writing up Albemarle property transactions earlier this year to help expand what I know about the county that surrounds the City of Charlottesville. I’m a city resident and I don’t know the landscape as much in Albemarle. If I’m going to do this work right, I need to put the work in. I hope to keep doing this for a while.  

The primary purpose for this work is intended to help me and others understand why real property assessments increase. They are determined by the fair market value as represented through actual transactions. 

Overall, property assessments in Albemarle increased by 13.46 percent in 2023, as I reported. The average increase in 2022 was 8.4 percent.  What will the numbers be for 2024? We’re going to come up to that quite soon. 

This is for paid subscribers first, but will be posted to Information Charlottesville at some point. Thank you for your support, and please ask questions and point out potential errors.