Note: Have we broken the year over year downtrend? (note higher high in July 2009)
If you watch Charts like I do you see a definite trend change in the above chart. This data goes back 6 years and you will notice that the peaks are starting to trend upward, and more importantly, the valleys are starting to trend upward, too. In the summer of 2006 we saw a lower high, a signal that the top was being broken, now we are seeing a higher low, a signal that the bottom is in place. Now we may retest these numbers, but I would not be surprised that, as far as the chart is concerned, we have broken trend… Stay tuned!
The Charlottesville home market (sales) is seasonally high during the Summer and low during the Winter. This has to do with many factors including the fact that the University of Virginia is a major employer and also the influx of students to our area. Also note the lower highs in the Summer Months (year over year). My clients receive various trend analyses of the market.
Note: The overall trend of DOM (Days on Market) was in a downward slope (broken Oct 2006) a clear signal… Also note the Higher Highs and Lower Lows on the number of units sold. This trend is critical and my clients are advised of this.
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