Recapping the CAAR 2011 Year-End Report: Home Sales Remain 50% Below Peak - Prices Continue to Drop - Distressed Sales Rise to 1 in 5 Transactions - Recovery Not Yet Begun

The CAAR's  2011 Year-End Report contains a plethora of numbers, data, graphs for the City of Charlottesville and surrounding counties.  You may access the whole thing here.  But below are the major take-aways.

The report concludes that this Area Remains a Buyer's Market.  No kidding.  The value of any property is only what a buyer is willing to pay.  And there remain fewer buyers here than ever