Real Estate Appreciation for Charlottesville, Virginia: + 34.16%
Appreciation for MSAs:.
Let's start by comparing Charlottesville, Virginia to the rest of the state. This will give us an idea if the appreciation here was isolated or happened across the state.
We have appreciattion of + 34.16% (+ 11.39% yearly) for the Charlottesville, Virginia MSA.
The entire state of VA had + 37.48% appreciation (+ 12.49% yearly).
The state average for VIrginia was higher than the real estate appreciation in the Charlottesville, Virginia MSA. This means the conditions in the MSA for real estate investment were worse by + 9.71%.
Charlottesville-VA
| Year | Quarter | Price Index | Quarter Increase or Decrease | Annualized |
| 2002 | 2 | 144.8 | + 3.32% | + 13.27% |
| 2002 | 3 | 148.24 | + 2.38% | + 9.50% |
| 2002 | 4 | 148.68 | + 0.30% | + 1.19% |
| 2003 | 1 | 151.61 | + 1.97% | + 7.88% |
| 2003 | 2 | 156.05 | + 2.93% | + 11.71% |
| 2003 | 3 | 159.05 | + 1.92% | + 7.69% |
| 2003 | 4 | 165.48 | + 4.04% | + 16.17% |
| 2004 | 1 | 167.57 | + 1.26% | + 5.05% |
| 2004 | 2 | 173.5 | + 3.54% | + 14.16% |
| 2004 | 3 | 184.86 | + 6.55% | + 26.19% |
| 2004 | 4 | 188.03 | + 1.71% | + 6.86% |
Some of the ways peope use our appreciation data for Charlottesville, Virginia include real estate investment .
Lets look at Charlottesville, VIrginia, a city located in Charlottesville, Virginia MSA.
Appreciation is an important factor in fixing/rehabbing and flipping properties. If appreciation rates are good this area may be prime. If you need information on a Hard Money Rehab Loan in VIrginia check out Spec-Loan.com
If you were going to do a Charlottesville, VIrginia Refinance, or Charlottesville, VIrginia Reverse Mortgages, you could estimate your home value.
If you knew your Charlottesville, VIrginia home was worth $106,000.00 in 2002, you could multiply by + 34.16%, add the gain and see the home should be worth $142,213.20 in 2004. Home value is an important part of every mortgage transaction.
Average YEARLY Real Estate Appreciation for Charlottesville-VA from 2002 to 2004:
+ 11.39%
Appreciation Comparisons
Here are a some MSAs that didn't do so well, this can give you an idea of a worst case scenario:.
- Fairbanks-AK lost - 29.16% from 1987 thru 1989
- Lafayette-LA lost - 28.50% from 1986 thru 1988
Zip Code in MSA: 22901 - CHARLOTTESVILLE, VA
MSA Pop: 181631Zip Pop: 30753
Avg Value: 163400
County: ALBEMARLE
Elev: 0
Region: South
Lat: 38.056523
Long: -78.495851