Real Estate Weekly | 1.24.24

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Real Estate Weekly

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

New Larger Homesites Just Released Backing to Trees!

Semi- Custom Homes starting from $599,900 Decorated Model Home Open Daily 12-5pm

Tour our Newest Model Homes and Old Trail Village our Tour our our Newest Newest Model Model Homes Homes inin Belvedere inBelvedere Belvedere and and Old Old Trail Trail Village Village

OPEN DAILY 12-5 | (434) 218-2352 urrituck Model in Belvedere | 905 Belvedere Blvd, Charlottesville, 22901 tuck Currituck Model Model in Belvedere in Belvedere | 905 |Belvedere 905 Belvedere Blvd, Blvd, Charlottesville, Charlottesville, VAVA 22901 VA 22901 NorthPointe@craigbuilders.com | craigbuilders.com/northpointe lla Model in Old Trail Village | 406 Astel Crozet, 22932 Model Villa Model in Old inTrail Old Village Trail Village | 406 |Astel 406 Astel St, St, Crozet, St, Crozet, VAVA 22932 VA 22932

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

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Mountain View Homesites Available from the $600’s New Homesites Featuring One Level Living Homes!

January 24 - 30, 2024 c-ville.com

Main Level Living Homes Available with or without Basement!

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Annie Gould Gallery

REAL ESTATE WEEKLY

Up less Property assessments are up again in Albemarle, but not record-setting

By Sean Tubbs

A

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

DT Mall.

2100 sq ft, sleeping loft, 1 1/2 baths, patio overlooking Mall, no pets, one parking spot, $2,200 per month.

434-466-7780

PETER LYNCH, ALBEMARLE COUNTY ASSESSOR

creases were smaller in Rivanna and White Hall, with figures of 2.64 percent and 2.48 percent, respectively.

Lynch can also break the data down via land classification. The 23,093 parcels designated in the Comprehensive Plan as Urban Residential increased an average of 4.49 percent and the 17,540 classified as “Other Residential up to 20 acres” increased by 4.28 percent. The 1,387 properties listed as Commercial/Industrial went up 3.09 percent.

Actual numbers will vary depending on unique circumstances.

“The majority of the properties are going to experience a negative 5 to a positive 5 percent change,” Lynch says. “An additional 32 percent will increase a 5 percent to 15 percent increase.”

Six percent are in excess of 15 percent.

But why the increase? Lynch says one possible explanation is that construction of new homes has not kept up with demand.

Data from the county’s Community Development reports the issuance of a total of 408 certificates of occupancy in 2015, a number that climbed to 1,143 in 2020 before dropping back to 779 in 2022.

Anyone who wishes to dispute their assessment must contact the assessor’s office

by February 28. Applications to appeal to the Board of Equalization are due April 1.

The City of Charlottesville will release their property assessment data on Friday, January 26, with notices being mailed out on January 30.

Overal change by district

r e C m amp m u S Guide

Annual directory of Summer Camps, Schools & Programs for kids published in c-ville on February 14, March 13, April 17, and May 1 (434) 623-1283 SARAH@C-VILLE.COM

ALBEMARLE COUNTY

January 24 – 30, 2024 c-ville.com

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

lbemarle County is reporting another increase in average property values for 2024, but its not as high as in the past two years.

“This year what we’re looking at is a 4.07 percent overall increase to the tax base based on the reassessment,” says Peter Lynch, Albemarle’s assessor.

Albemarle switched to annual assessments in 2009, which means 15 years of data to sift through. Average values declined the first five years, with a decrease of 2.3 percent in 2013. Percentage changes have been positive ever since, with highs of 8.4 percent in 2022, and 13.46 percent in 2023. This year’s values are on a par with 2019, when 4 percent was at the time a record-setting increase.

“Luckily this year, at least to me, it makes our job a little easier when those increases aren’t so high as they were the last couple of years,” Lynch says.

Lynch explained to the Board of Supervisors how his staff audits the sales that are based on valid fair-market transactions. Invalid ones do not contribute to the calculations, such as the county’s $58 million purchase of 462 acres around Rivanna Station.

An example of a valid transaction is the December 19, 2023, purchase of a fourbedroom house on Shiffletts Mill Road in the White Hall District for $1.3 million. That was 26.58 percent above the 2023 assessment.

That transaction was one of 1,856 valid market sales in 2023, down from a high of 2,389 in 2021. In all, there are 37,419 taxable properties in Albemarle as of the end of the year.

Assessments were up highest in the 348 parcels of land in the Town of Scottsville, which had a 10.31 percent average increase.

The Scottsville Magisterial District is next with the 7,034 parcels having an average increase of 6.98 percent. The average in-

“This year what we’re looking at is a 4.07 percent overall increase to the tax base based on the reassessment.”

The chart above shows 2024’s average Albemarle County property value increases.

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EAN FAULCONER INC. MCLFarm, Estate and Residential Brokers

HIGHER GROUND

27 acre estate, mountaintop retreat with 11,400 sf., 8-BR, 6.5-BA residence with many outside terraces, decks and unsurpassed panoramic mountain views! 10 miles to famed Omni Homestead Resort, 2 miles to the airport. www.highergroundva.org Jim Faulconer, 434.981.0076 or Will Faulconer, 434.987.9455

DOWNTOWN PENTHOUSE

This 3 bedroom, 3.5 bath condo features extra high ceilings, a modern and open floor plan with huge windows and doors, and a large rooftop terrace with views of the Downtown Mall all the way around to Monticello. MLS#634149 $1,690,000 Jim Faulconer, 434.981.0076

WEST MAIN STREET CORRIDOR

EDNAM FOREST

ARDWOOD ROAD

Well constructed home just four miles north of the City. Set on 1.45 acres - great outdoor space for gardens. Home is in need of some renovation, but given quality construction & excellent location, it’s worthy of the investment. MLS#638788 $495,000 Will Faulconer, 434.987.9455

FRAYS GRANT

This 21 acre lot is situated at the end of a culde-sac that provides privacy and a quite setting among towering hardwoods, and is convenient to CHO airport and ample shopping of various kinds. MLS#640231 $269,000 Jim Faulconer, 434.981.0076 or Will Faulconer, 434.987.9455

FREE UNION PARCEL

42 acre tract on Wesley Chapel Road with the right to be divided into two 21 acre parcels. Big views with clearing towards the Blue Ridge. Stream frontage on Burruss Branch. Old logging road recently cleared for easy access. MLS#647055 $899,000 Tim Michel, 434.960.1124

EAST WATER STREET

Rare opportunity for a unique downtown office/retail condo with deeded onsite parking space! Located in the Holsinger Condo on Water Street, one block removed from the Historic Downtown Mall. Easily accessible to UVA and all Charlottesville has to offer. $495,000 Charlotte Dammann, 434.981.1250

SIMMONS GAP/ ESTES RIDGE

10 acres of mature woods. Property has long road frontage and consists of two parcels being combined and sold as one. No homeowners association!

Design and build your dream residence on this very well-priced parcel. MLS#621178 $189,000 Charlotte Dammann, 434.981.1250

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

WWW.MCLEANFAULCONER.COM

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Wonderfully large 1.5+ acre building lot in Ednam Forest. Build your dream home on this elevated, wooded lot located in a single family community, minutes from UVA and within walking distance to Boar’s Head Resort. Court Nexsen, 646.660.0700

MISSION HOME ROAD

146.88 ac. in Albemarle & Greene County, adjacent to the Shenandoah National Park! Division rights & multiple homesites. Extraordinary timberland.

Views of the mountains, along with easy access to trails & Skyline Drive. MLS#620276 $1,100,000 Mark Mascotte, 434.825.8610

MILL HOUSE

Former house of noted local architect Floyd E. Johnson, on the banks of Totier Creek. Thoughtfully renovated and expanded, 5-BR, 3 full and 2 half BA. Guest house, 2-bay garage, pool, equipment shed plus 130 acres of open & wooded land. MLS#639196 $2,475,000 Court Nexsen, 646.660.0700

January 24 - 30, 2024 c-ville.com

Investment/Assemblage opportunity between University of Virginia and Charlottesville’s dynamic Downtown Mall. Property is being targeted to be classified to RX-5 in the new city zoning ordinance. MLS#30850340 $875,000 Tim Michel, 434.960.1124

MEADOWLARK FARM

22-acre equestrian property, 12 miles from Charlottesville, features a completely renovated residence nestled on a knoll overlooking the pool and the Mechums River and captures a magnificent view of the Blue Ridge Mountains in the distance.

Court Nexsen, 646.660.0700

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

PENDING

535 FOXDALE LN CHARLOTTESVILLE, VA DAVE ALLEY

January 24 - 30, 2024 c-ville.com

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536 FOX HOLLOW LN PALMYRA, VA LEE WYATT

$1,695,000 (434) 760-0077

$620,000 (540) 718-3065

949 GLENWOOD STATION LN #202 $335,000

CHARLOTTESVILLE, VA KATELYN MANCINI

(703) 203-3388

PLANK RD 2.68 ACRES

AFTON, VA DAN CONQUEST

286 FOREST GLEN LN PALMYRA, VA SUSAN STEWART

$950,000 (434) 242-8573

$539,584 (434) 242-3550

IRISH RD 24.43 ACRES $169,500 SCHUYLER, VA STEVE WHITE (434) 242-8355

3522 ROWCROSS ST CROZET, VA KATE COLVIN

$699,900 (434) 996-5008

36 MOUNTAIN SUNSET LN $433,620 GORDONSVILLE, VA SUSAN STEWART (434) 242-3550

GREEN CREEK RD 8.4 ACRES

SCHUYLER, VA STEVE WHITE

$109,500

(434) 242-8355

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

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Your Place. Our Purpose.

122 Yellowstone Dr. Unit 307 | Charlottesville

1400 River Rd | Charlottesville

Eagles Landing’s all-inclusive, affordable GATED COMMU- Walk to the downtown mall from this 3 BR Brick Ranch w/Sunroom, large deck, finished basement & large private NITY experience. Come home to a PRESTIGIOUS condo complex offering LUXURY LIVING & RESORT-style ameni- backyard. Includes additional 1-BR, full-bath Cottage with kitchen/living room as a Rental. Off street parking! ties. Natural light, spacious living with 4 -Private suites.

1036 Susan Dr | Earlysville Spacious home on 2 acres in small neighborhood with plenty of privacy & easy access to shops, restaurants & schools! A gorgeous kitchen renovation was completed this year. 4 beds, 3½ baths, 2 car garage and fully fenced yard!

$235,000 | montaguemiller.com/648668 Carol Costanzo | 434.962.1419

$549,900 | montaguemiller.com/646821 Doug Burke | 434.996.6791

$759,000 | montaguemiller.com/647994 Laurel Smith | 808.280.6431

1088 Killdeer Ln | Crozet

1704 Old Brook Rd | Charlottesville

537 Pine Trail | Lovingston

This charming 5 bedroom, 3 full bath home offers an exceptional opportunity to create your dream home in a tranquil & private setting but right next door to Old Trail.

Over 3500 sqft. finished space with tons of natural light.

Two older homes on this lot. Property is developable.

7.96 acres zoned R-2 Residential. Beautiful, flat to sloping terrain, mostly wooded with some steep slopes. A Builder and Developer will create something special here.

Welcome to Earthsong, a 4-acre wooded sanctuary in the heart of Nelson County. At the center of the property sits a uniquely designed & well-maintained 3 BR, 2 BA stucco sided home w/an open floor plan & plenty of natural light.

$619,000 | montaguemiller.com/646082 Gaffney Saadut Team | 434.981.9968

$995,000 | montaguemiller.com/646888 Gaffney Saadut Team | 434.760.2160

$395,000 | CarterMontague.com/646083 Carter Montague | 434.962.3419

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