Local v. National: Charlottesville Area Home Prices Decline Much More Than Cities Tracked By Case-Shiller Index

Good news for buyers.

Average Price Declines - Single Family (Detached) Houses

Case-Shiller Home Price Index
Standard and Poor's  national composite, the "leading measure of U.S. Home prices," fell by
  -4.0%  Q4 2011 over 2010
  -3.8% Q4 2011 over Q3 2011

City of Charlottesville
  -29.0% Q4 2011 over 2010
  -10.6% Q4 2011 over Q3 2011

Albemarle County
  -18.8%  Q4 2011 over 2010
  +2.5% Q4