The Real Estate Weekly | 1.18.2023

JANUARY 18 - 24, 2023

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CHARLOTTESVILLE ALBEMARLE, FLUVANNA, GREENE, LOUISA, MADISON, NELSON, ORANGE, AUGUSTA

January 18 – 24, 2023 c-ville.com @cville_weekly facebook.com/cville.weekly

Old Trail, Crozet, VA

Real Estate Weekly

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Featuring properties for sale and rent in and around Charlottesville as well as Albemarle, Fluvanna, Greene, Louisa, Madison, Nelson, Orange and Augusta counties

January 18 – 24, 2023 c-ville.com

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Semi-Custom Main Level Living Homes Surrounding a Pocket Park From $569,900!

Tour our Newest Model Homes and Old Trail Village Tour Tour our our Newest Newest Model Model Homes Homes inin Belvedere inBelvedere Belvedere and and Old Old Trail Trail Village Village Decorated Model Home Now Open!

Future Community Clubhouse/Pool

Walkout Basement Homesites with 9’ Ceilings from $649,900 — Our New Future Model Home is Ready for Framing Tours Today!

Currituck Model in Belvedere | 905 Belvedere Blvd, Charlottesville, 22901 Currituck Currituck Model Model in Belvedere in Belvedere | 905 |Belvedere 905 Belvedere Blvd, Blvd, Charlottesville, Charlottesville, VAVA 22901 VA 22901 DAILY 12-5 | |434-987-6522 Villa Model in Old Trail Village 406 Astel Crozet, 22932 Villa Model Villa Model in OPEN Old inTrail Old Village Trail Village | 406 |Astel 406 Astel St, St, Crozet, St, Crozet, VAVA 22932 VA 22932 NorthPointe@craigbuilders.com | craigbuilders.com/northpointe

MODEL HOMES OPEN DAILY | 434-973-3362 | craigbuilders.com MODEL MODEL HOMES HOMES OPEN OPEN DAILY DAILY 12-512-5 | 12-5 434-973-3362 | 434-973-3362 | craigbuilders.com | craigbuilders.com Conceptual images shown. Pricing and design subject to change

Last (2) Quick Deliveries Remaining!

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EAN FAULCONER INC. MCLFarm, Estate and Residential Brokers

If You Are Thinking of Selling Your House, Call Sharon!

SERENITY DRIVE

Monte Sereno Stunning Blue Ridge Mountain views from the top of the hill to the west. Far reaching vistas define this property. Perfect for building a spectacular estate home. Create your own covenants and restrictions. 5 lots make up this unique subdivision, with 4 two acre lots and one five-acre lot. High speed internet is available now. One owner is a licensed real estate broker in the state of Va. Located one mile off 29 North off of Frays Mill Rd. Less than 10 minutes for all conveniences. $1,500,000

WESTWOOD ROAD

CHURCH PLAINS DRIVE

Over 25 years of Real Estate experience. email: callsharon.today@yahoo.com cell: 434.981.7200 WWW.MCLEANFAULCONER.COM

503 Faulconer Drive Charlottesville ∙ VA ∙ 22903 p: 434.295.1131 f: 434293.7377 e: homes@mcleanfaulconer.com

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CALL SHARON

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Beautiful 2.15 acre lot set in a quiet neighborhood, in the western school districts. A bright open floor plan with vaulted entrance and turned staircase. 4 bedrooms, 2.5 baths, full unfinished basement plus a large 2 car garage. Hardwood floors throughout the first floor. Large, bright kitchen with island, pantry, and terrific breakfast room. The kitchen looks into the family room that features a wall of windows and a fireplace. The wrap-around front porch takes in the lovely setting. Deck overlooks the large yard with room to play and a great place to garden. $625,000

January 18 – 24, 2023 c-ville.com

ONE LEVEL LIVING. The Water view dominates the interior spaces from most rooms in this fabulous, new, waterfront residence.

Expansive views from two full length decks promise hours or days of relaxation. The front door opens to the great room with a wood burning fireplace and hardwood floors that flow through the first floor. A bright open kitchen with gorgeous countertops and appliances. Complete one floor living with master suite featuring a walk-in shower and double vanities. 2 additional bedrooms with a full bath, stack unit washer and dryer hookups. The terrace level offers more water views even from the laundry room! A large family room, an additional bedroom and full bath round out the finished rooms.

Large unfinished room can serve as storage, studio, or workshop.

Includes a one-year builder warranty. $500,000

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1100 DRYDEN LN, CHARLOTTESVILLE, VA 22903 WWW.HOWARDHANNA.COM/ROYWHEELER

January 18 – 24, 2023 c-ville.com

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PRICE CHANGE 2995 FORSYTH RD $1,700,000 ESMONT MAURY ATKINS (540) 223-2719

3219 DARBY RD $1,350,000 KESWICK SIMONE AND DAVE ALLEY (434) 760-0076

653 IRISH RD $440,000 SCOTTSVILLE CHRISTA DEREEMER (434) 987-2165

1829 STEEPLECHASE RUN $439,000 CHARLOTTESVILLE KAREN DOWELL (434) 531-6948

917 FLAT WATERS LN $429,000 CHARLOTTESVILLE SIMONE AND DAVE ALLEY (434) 760-0076

4152 RISING SUN $409,530 PALMYRA SUSAN STEWART (434) 242-3550

156 CHESHIRE LN $284,900 WAYNESBORO BEVIN BOISVERT (434) 996-8633

5360 LACKEY LN $200,000 COVESVILLE JAN SHIFLETT (434) 242-6057

PRICE CHANGE 1017 CEDAR GROVE RD $299,900 RUCKERSVILLE GRIFFEN HILTON (804) 393-8340

SCAN QR CODE TO VIEW LISTINGS ONLINE CHARLOTTESVILLE 434.951.5155 | ZION CROSSROADS 434.589.2611 | GREENE COUNTY 434.985.2348

THE SPRING MARKET STARTS NOW! 3434 MONTAGUE STREET

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105 VIRGINIA AVEUE

Previous model home This beautiful luxury townhome has everyCOMING SOON is now ready for you to thing you want. As you enter you are greeted move in! This like-new in a light filled foyer. The bottom floor has a home in the newly soldgreat multi-purpose room which is a perfect out Village Oaks neighguest suite with attached bath or additional borhood is perfect for large family/recreation room. On the main thosewanting easy, level you find an open floorplan including single-level living. The your living room, dining room & upgraded open floorplan with LVP gourmet kitchen with oversized island. Enjoy floors allows the natural the view of Carter Mountain from your living light to flow through the room. Perfect for entertaining inside & out with home. The upgraded a lovely deck with plenty of space to cookout kitchen with an ample or relax. Head up to the bedroom level. There ! ! e ct a s tr u n includes a bedroom with two o o C Price Drop!you’ll find a large master H t in 6 days r e n ac d Un Ope er Contr diningspace island with bar is perfect for entertaining. With easyUnd access to the patio and large yard, it closets including a walk-in & master bathis ready for hosting a backyard BBQ, playing in the yard, oryour favorite canine friend. The room with double vanities & beautifully tiled large owner’s bedroom has an attached bath with double vanities and an adjacent large shower. Two more bedrooms including anwalk-in closet. Two additional rooms, full bath,and laundry room completes the inside. The other with a walk-in closet, bathroom, & launtwo-car garage has space for additional storage. The neighborhood takes care of the lawndry complete that level. As a bonus, the pulldown attic stairs lead to additional storage space care, trash, and snow removal;so you can relax on the weekends or simply walk across the which is a rarity in a townhouse. Perfect location minutes from UVA, Downtown, Wegmans, & street to the pool onSunday a hot day.

I-64. The Avinity neighborhood is a true community where neighbors know each other. Enjoy 1-3There pm is also a playground and clubhouse for when you want to entertainaway from home. All of this with a quick commute to Charlottesville and I-64. the dog park, clubhouse, playground & full gym or meet your neighbors at a wine social or 2808 Magnolia Dr 2142 Avinity Loop 1544 Sawgrass Ct 2357 Middle River Rd Come see your new home! $350,000 weekly food truck. Come see your new home today! $450,000 Peace & tranquility less than 15 minutes from Beautifully upgraded 4 BR townhouse w/mountain Complete 1st floor living, lg MBR & BA w/laundry.

Come enjoy the peace and tranquility of your own Hardwoods on main floor. Gourmet kitchen & loft

434.305.0361 open to LR. Outside patio. $410,000 paulmcartor.montaguemiller.com/575169 pdmcartor@gmail.com

views! Open floorplan, perfect for entertaining with private patio. $365,000

Downtown! Enjoy this wonderful house on over an acre with beautiful mature trees. $469,900

lake front retreat! Single floor living home includes both MB & laundry on the main floor. $240,000

paulmcartor.montaguemiller.com/575473

paulmcartor.montaguemiller.com/577468

paulmcartor.montaguemiller.com/576182

ng!

BUYERS N e w L is ti

Buyers & Sellers!

434.305.0361 FINALIST

& SELLERS CALL ME TODAY!

Call Me Today!

pdmcartor@gmail.com

RUNNER UP

HONORABLE MENTION

Best of Cville Real Estate Agents in 2016 & 2017, and a Finalist in 2018

GE T YO UR HO M E SO LD HE RE !

Best of Cville Real Estate Agents in 2016 & 2017!

2431 Walnut Ridge Lane

LISTED, UNDER CONTRACT & SOLD!

Albemarlepaulmcartor.montaguemiller.com County

paulmcartor.montaguemiller.com/578197

paulmcartor.montaguemiller.com/572219

Northeast City of Charlottesville

926 Coleman Street

615 Bolling Avenue C U O N N D TR E AR C T

Keith Road Lot

Water Front 8+ Acres just 4 miles to Shopping & 15 miles to UVA!

Locally Sourced Energy Conscience Custom built 4 bedroom Charlottesville home; with Detached 1 Bed Apartment. Reclaiming the charm of the original home in the entry; you then step into an updated; locally sourced custom abode. Vaulted ceilings, abundant light, sunken great room with Sauna, massive Timber Framed Screened porch, Arched Brick carport detail, Solar Ready 400 amp & ERV charging Station... and the list goes on! $799,000

Trout stocked river follows the entire boarder offering unique rock outcropping,pools & waterfalls. A great Silver Bamboo forest on the SouthEast side. Beautiful large boulders on the western side with great Mountain Views… better views would bepresent with some clearing and an elevated homesite. This Wooded Retreat of a property has already been perc’d for a 3 Bed home. $125,000

NOMINATE ME NOMINATE ME

NOMINATE ME

NOMINATE ME

Buy and Sell Cville Team Nominees: Candice & Bert

Candice Van der Linde @Candice_Realtor Buy and Sell Cville Team

Candice van der Linde, Realtor

Call: 434-981-8730 • Connect: BuyandSellCville.com Come visit: RE/MAX Realty Specialists

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Green Home with Custom Detached Apartment in Downtown Cville

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NOMINATE ME NOMINATE ME

Here’s your chance to live in a 1906 farmhouse with all the style and character while enjoying the conveniences of a modern home. $130,000

Locust Grove Home with Mountain Views & Tremendous expansion potential! Custom Kitchen; Finished Bonus Attic Space & Unfinished Walk Out Basement! New HVAC 2021; Stainless Appliance Package; Soapstone Counters; Custom Maple Cabinetry; HandMade Stained Glass Kitchen Window & Covered Rear Porch. Come see & live where you love in Charlottesville!

Spacious & Ideally Located

Move right in! 5 Bedroom Earlysville Rd Ranch on a full finished basement apartment. Main level kitchen just updated with NEW Appliances & Counters. Abundant light fills this space; just off the Sun Room. Upstairs features Hardwood Flooring, 3 Bedrooms & 1.5 Bathrooms, Large Living Room with Wood Burning FP, Dining Area, Sun Room & Large Rear Deck.

The Terrace Level apartment set up has a Kitchen, Full Bath, 2 Bedrooms & FP. Inspection Completed. Major Infrastructure work completed recently, including: Windows, HVAC, Electric Panel x2, Septic pump, lines & field. Deck repaired & Stained, Light Fixtures, Boot vents, chimney cap, tree removal...etc.

63 Soapstone Ln

Country living 15 minutes of Downtown & within Albemarle County. This single floor home has beautifully updated kitchen & bathrooms. $260,000

January 18 – 24, 2023 c-ville.com

3763 Earlysville Road

900 GARDENS BLVD #100 CHARLOTTESVILLE, VA 22901 WWW.AVENUEREALTYGROUP.COM

4161 Presidents Rd

Contact me today to find out about our New Listing Program. Let’s get your home

This gorgeous, one of a kind, 7,000+ sq. ft. home in Bentivar features 6 Bedrooms, 5 Full and 2 Half Baths. The Grand curved staircase, archways, columns, dental molding, built - in cabinetry & woodworking throughout are easy to impress. Main level bedroom suite attached to formal office. Wraparound decking and massive screen porch overlook your private 2+ Acres. Tremendously large eat-in kitchen flows to the 2nd Staircase. The upper level features 3 bedrooms, plus a Master Suite with a private sitting room, balcony & double closets. The Unfinished Walk Up 3rd Level is ready to be whatever you can imagine! All this house on a finished walk out basement... What more can you want? Bentivar is ideally located in Albemarle County on mature spacious lots. $985,000

Price Drop!

Passionate about Helping People SELL & BUY Residential Real Estate in the Charlottesville Area. We can’t wait to connect with you & Share Some of our Best Adventures!

943 Glenwood Station Ln #203 Buy and Sell Cville Team Charlottesville, VA 22901 Nominees: Candice & Bert

Buy and Sell Cville Team Nominees: Candice & Bert Passionate about Helping People SELL & BUY Residential Real Estate in the Charlottesville Area. We can’t wait to connect with you & Share Some of our Best Adventures!

Candice Van der Linde @Candice_Realtor Buy and Sell Cville Team

Passionate about Helping

Candice der Linde, Realtor @Candice_Realtor Peoplevan SELL & BUY Residential

Candice van der Linde, Realtor

Real Estate in the Call: 434-981-8730 • Connect: BuyandSellCville.com Charlottesville Area. We can’t wait to connect with you Come visit: RE/MAX Realty Specialists

Buy and Sell Cville Team Nominees: Candice & Bert Passionate about Helping People SELL & BUY Residential Real Estate in the Charlottesville Area. We can’t wait to connect with you & Share Some of our Best Adventures!

943 Glenwood Station Ln #203 Buy and Sell Cville Team Charlottesville, VA 22901

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EAN FAULCONER INC. MCLFarm, Estate and Residential Brokers BLACKBERRY HILL FARM

RIVER LAWN FARM

A Southern Albemarle estate with 1.5 miles of frontage on the James River with 540± acres of highly fertile, gently rolling landscape. Historic farmhouse dating to the late 1700s offers extensive views of the river. Under conservation easement with the VOF. MLS#630470 $4,865,000 Steve McLean, 434.981.1863

SOUTHWIND ESTATES

January 18 – 24, 2023 c-ville.com

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3 separate parcels with commanding Blue Ridge Mtn. views,level building sites 15 minutes from Charlottesville.

Sites have been perked, have wells, and ready for your dream home. MLS#632482 $375,000 (7.8 acres), MLS#632490 $275,000 (2.4 acres), MLS#632487 $175,000 (2.0 acres), Court Nexsen, 646.660.0700

BRIDLEWOOD TRAIL

Private Keswick residence on 18.6 acres with views of the Southwest Mountains. 3-bedrooms, 1.5-baths with wood floors, screen porch and 2-car garage. Open and wooded land. Easy access to Charlottesville and UVA. MLS#634905 $695,000 Charlotte Dammann, 434.981.1250

Blue Ridge Mountain views from this impeccable country property with an attractive, well designed and selfsustaining 5,525 finished square foot residence on 38± acres. Three car garage and barn designed for 3 stalls along with finished second floor office/full bath.

Many amenities such as a full house generator, solar panels and geothermal HVAC. The perimeter is fenced and a mix of woods, two pastures and spring fed stream. A peaceful oasis easily accessible to Charlottesville and Washington DC region. MLS#634846 $1,550,000 Charlotte Dammann, 434.981.1250

GIBSON’S HOLLOW

Ivy area! A 249 + acre hidden, private Arcadia controlling its own little valley up to the mountain ridge top building sites. Multiple parcels and subdivision rights make it a conservation easement candidate. MLS#634183 $4,000,000 Tim Michel, 434.960.1124 or Steve McLean, 434.981.1863

RED HILL

10 miles south of Charlottesville, a beautiful 283 acres, rolling to hilly, mostly wooded tract, borders Walnut Creek Park, with lake and miles of trails.

This land has pastures, trails, creeks and a river! Many homesites, NO EASEMENTS. MLS#634310 $1,995,000 Jim Faulconer, 434.981.0076

DUDLEY MOUNTAIN ROAD

Unique 88-acre property with 4-BR home.

Property includes two-car garage, storage shed/ shop and 3760-sqft multipurpose building.

Beautiful mountain and lake views just 4 miles from Charlottesville. MLS#635483 $1,275,000 Jim Faulconer, 434.981.0076

HATTON RIDGE FARM

175 acre grazing farm with 2/3 mile frontage on the James River. Impressive 4-5 bedroom, brick Georgian home, circa 2000 in excellent condition.

Fertile James River bottomland for gardens, plus many recreational uses. MLS#632477 $2,670,000 Jim Faulconer, 434.981.0076

EVERGREEN HILL

A private 18 acre horse farm, with 4bedroom main residence, 1-bedroom cottage, beautiful 8 stall center aisle barn, outdoor riding ring, and several fenced pastures and hay fields. Twostory colonial home, circa 1961, has an updated kitchen and bathrooms, and a spacious main level master suite. Situated near the main house is a 1-bedroom, 1-bath cottage, a large heated shop, and a storage building. This is the perfect, small farm, a manageable size with access onto 570 plus acres of parkland with trails. MLS#632164 $1,295,000 Jim Faulconer, 434.981.0076

BROOMFIELD FARM

29 acres fronting Blenheim Road, a small agricultural and residential subdivision with CCR’s, but NO HOA. 2 buildable lots, with an historic red barn and silo, and an 8-stall stable. MLS#624834 $495,000 Jim Faulconer, 434.981.0076

503 Faulconer Drive| Charlottesville | VA 22903 | office: 434.295.1131 | email: homes@mcleanfaulconer.com

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EAN FAULCONER INC. MCLFarm, Estate and Residential Brokers

ESTATE PARCEL IN AFTON

Stunning mountain views available on this attractive 14± acre property, possessing lovely streams and woods. This parcel is only 1.5 miles from Route 151 Brew Trail, with easy access to Wintergreen, Charlottesville & UVA. MLS#629702 $399,000 Charlotte Dammann, 434.981.1250

SUNNYSIDE

Remarkably large parcel located convenient to Charlottesville and UVA. Exceptional Blue Ridge views, charming farmhouse (in need of restoration).

Under VOF easement but with divisions into already predetermined parcels.

MLS#585228 $4,400,000 Steve McLean, 434.981.1863

TURKEY SAG ROAD

33-acre property with beautifully constructed 3 to 4-BR home. Home features great room with dramatic stone FP and panoramic views and large master suite with private deck. Peace, privacy and tranquility unsurpassed, but close to town. MLS#635341 $1,875,000 Jim Faulconer, 434.981.0076

GARTH ROAD

MURPHY’S CREEK FARM

Wonderful gently rolling parcel of land with just under 26 acres, 18 miles south of Charlottesville.

The land is wooded (mostly hardwoods) with an elevated building site, stream/creek, total privacy, and long road frontage. MLS#619394 $229,500 Steve McLean, 434.981.1863

GREENTREES

94+ acres 20 minutes from Charlottesville.

Originally part of a 188-acre tract, two parcels may be purchased separately or together, with 2 developmental rights each. Mostly maturing pine and very long public road frontage.

MLS#635861 $700,000 Tim Michel, 434.960.1124

503 Faulconer Drive| Charlottesville | VA 22903 | office: 434.295.1131 | email: homes@mcleanfaulconer.com

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11.73-acre, buildable lot in Western Albemarle! One of a kind location and a rare opportunity to purchase a large lot in an estate neighborhood 10 minutes to town. 2 division rights and is gently rolling with a small stream bisecting the property. MLS#628219 $795,000 Steve McLean, 434.981.1863

SIMMONS GAP ROAD

5-acre lot with mature hardwoods. Great opportunity to build with no HOA. Private building site amongst beautiful woods. Located between Free Union and Earlysville but so convenient to Charlottesville & UVA. MLS#621177 $140,000 Charlotte Dammann, 434.981.1250

@cville_weekly

LYNX FARM LANE

Great building lot in Ivy! Over 2.5 acres less than 6 miles to Charlottesville and UVA. Your future dream home could sit on this beautiful, wooded land, the perfect combination of country and city access.

Murray Elementary School District. MLS#634897 $165,000 Steve McLean, 434.981.1863

FRAYS MILL

Mostly wooded preservation tract of 81.395 acres next to Frays Mill Subdivision in highly desirable Northern Albemarle. This beautiful gently rolling land has a great, private homesite with Blue Ridge Mt. views, and creek on property. MLS#608509 $995,000 Jim Faulconer, 434.981.0076

CROZET AREA

Beautiful building lot -3.3 acres, fronting on a quiet paved county road. Land is mostly in pasture, some woods, creek and elevated homesite with panoramic views of mountains, pond, and surrounding pastoral area. Less than a mile to Harris Teeter at Crozet.

MLS#636349 $450,000 Jim Faulconer,434.981.0076

January 18 – 24, 2023 c-ville.com

K’DEE FARM

Embodying the essence of country life! 214+/- acre farm with spacious main residence, 3-car garage with apartment, dependencies & farm buildings. Many agricultural & recreational uses. Easily accessible to Charlottesville, Orange, I-95 & DC region.

MLS#636896$1,975,000 C.Dammann,434.981.1250

820 CONDO

Well-designed corner condo consisting of an exceptionally bright great room with high ceilings, fullyequipped kitchen, ample space for both relaxed living and dining, 1-BR/1-BA, and inviting private balcony/ terrace. Views of the Downtown skyline and mountains.

MLS#634496 $285,000 C. Dammann, 434.981.1250

REAL ESTATE WEEKL NEWS Y NEWS

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For a price

EAN FAULCONER INC. MCLFarm, Estate and Residential Brokers Farm, Estate and Residential Brokers 503 Faulconer Drive ∙ Charlottesville ∙ VA ∙ 22903

KESWICK LANE

How will recent assessments affect property taxes?

By Sean Tubbs

@cville_weekly

CALL SHARON

Over 25 years of Real Estate experience. email: callsharon.today@yahoo.com cell: 434.981.7200 WWW.MCLEANFAULCONER.COM

Annie Gould Gallery

@cville_weekly

A unique art gallery located in the heart of historic Gordonsville.

109 S. Main Street, Gordonsville, VA • (540) 832-6352 anniegouldgallery

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January 18 – 24, 2023 c-ville.com

CLUB DRIVE

Enjoy Resort Style Living in Keswick Estate with newly remodeled Keswick Hall and Country Club. French Normandy style home set on a 2.7acre corner, wooded lot. Elegant and gracious custom designed residence, built by Baird Snyder. Light filled, comfortable rooms, thoughtfully planned. Interior archways, arched windows and doors. A 20’ high sweeping entry with curved staircase. Custom door design and carved white statuary marble fireplace mantel. Cast stone work on the exterior Solid mahogany arched, leaded beveled glass front doors lead to the limestone foyer. Extensive gardens and terraces.

SUPPLIED PHOTO

Data compiled by the Charlottesville Area Association of Realtors shows that sales volume decreased 19.9 percent from November 2021 to November 2022 for the whole region, but the median sales price increased 9.6 percent over the same period to $399,000.

SOLD

Dramatic, open floor plan custom built by Shelter Associates, in Keswick Estate. Thoughtfully designed large comfortable living areas, and a stunning formal dining room.The wide cased openings allow for graceful flow throughout the first floor.

Gorgeous marble countertops in the kitchen with fabulous custom cabinets and lighting.The extended exterior living space sets this home apart with a sunroom and terraces. The open turned staircase leads to a full, partially finished terrace level. Set on over 3 acres, this elevated, private parcel backs up to an adjacent horse farm. Many beautiful features including: custom moldings, sunken English gardens, geothermal heating, 3 car garage and 2 master suites on the main level.

January 18 – 24, 2023 c-ville.com

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T

tinued to increase. Data compiled by the Charlottesville Area Association of Realtors shows that sales volume decreased 19.9 percent from November 2021 to November 2022 for the whole region, but the median sales price increased 9.6 percent over the same period to $399,000.

If the bubble does burst this year, assessments in future years could be lower. In 2009, the average assessment was down in Albemarle 2.59 percent, beginning a decline that lasted several years until property values began to increase.

There’s also the potential impact on rents.

Lynch told Albemarle Supervisors that the assessments of apartment buildings went up 28.2 percent.

“Apartments are a hot commodity in the real estate market and its really the difference between that’s an income stream that is sought after,” Lynch said.

While every property’s case is unique, the more expensive the house, the larger the assessment increase is likely to be. Homes over $2 million have an average increase of 15.29 percent compared to 9.13 percent for properties under $150,000.

here’s a long way to go until the end of 2023, but key metrics are coming in on how the real estate market fared in the last 12 months. But what impact will this new information have on transactions between now and December?

“Assessed values are a number that people look at, and while by law they are supposed to be 100 percent of market value, they are a backwards-looking valuation, rather than a value that reflects today’s market,” says local realtor Jim Duncan.

But those numbers will have an effect on property taxes for this year, and local governments will have to decide what they’ll do with the millions of dollars in additional revenue.

Albemarle County set a record this year with average assessments up 13.64 percent over 2022. Last year’s assessments in Albemarle were up 8.4 percent.

In Fluvanna, property values are up 13 percent for 2023. Figures for Louisa County will come out later this spring, as will assessments for Nelson and Greene.

Charlottesville’s assessor has not released the figures for the city. The average increase in 2022 was 11.67 percent. Currently Charlottesville is expecting a $5 million surplus in the current fiscal year, but that figure will increase if the trend extends to the city.

But even if the numbers are backward looking, they still inform understanding about how things have worked. Perhaps the large increase in Albemarle will fuel more appeals, but County Assessor Peter Lynch told the Board of Supervisors on January 11 that there were not many challenges in Albemarle last year.

“They understood what was going on with the market,” Lynch said.

“They knew people were bidding up the sales on houses and that the assessments would be higher.”

Lynch also said he is aware that the increase may not be easily understood, given a general sense that recession is on the horizon. Yet, the assessment increases can be explained Area realtor Jim Duncan says that while people by a closer look at last year. always look at assessed values, “they are a The number of home sales was backwards-looking valuation, rather than a value that reflects today’s market.” down in 2022, but sales prices con-

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