It’s being called an affordable home crisis. The American dream of home ownership has become elusive, especially in robust communities like Charlottesville, Virginia. Currently there are only 38 listings under $400,000 in Albemarle County and of those all but 12 are attached homes (townhouses or condominiums). There are only 13 listings in the city of Charlottesville under $400,000 and zero below $300,000. While efforts are being made to address the low inventory of affordable homes the basic economics of supply and demand have put “starter homes” out of reach for first time home buyers within the urban ring of Charlottesville.
Fortunately the five counties surrounding Albemarle County, including Fluvanna, Louisa, Orange Greene and Nelson still offer some good values along with a more tranquil environment many people enjoy. Orange County has the most listings under $400,000 (64). Orange is a large county stretching nearly to Fredericksburg and has some wonderful small towns like Gordonsville and Barboursville less than 30 minutes from Charlottesville. Fluvanna County just east of Albemarle has 35 single family homes on the market under $400,000 with 21 of those being in Lake Monticello, a lovely gated community just 25 minutes from town. Greene County just north of Albemarle has become the bedroom community for Charlottesville with the most new construction in several new developments. Prices are rising there but one can still look at 27 homes for sale under $400,000 (detached and attached) with an easy commute into Charlottesville. Louisa County’s 56 listings under $400,000 include a lot of new construction and some older fixer uppers on some acreage which are getting harder to find.
Basically, you can draw circles around Charlottesville with five mile radius’s and expect more affordable home and acreage prices with each step outside of Charlottesville. I’ve provided a map you can click on each county for a description and can search within each for homes, farms and acreage.
I hope this helps. I’d love to help you get started here.
