The chart in an article that was linked in the one you mention also shows that Virginia has plenty of property that is considered ‘overvalued’ by the authors of that study. This includes Charlottesville, at $241,200 as a median price, and 30.40% ‘overvalued’.
Some other cities:
Richmond VA $179,300 15.40%
Harrisonburg VA $172,100 14.70%
Lynchburg VA $133,300 8.70%
Roanoke VA $145,200 10.90%
Virginia Beach-Norfolk VA-NC $212,700 30.60%
Sorry for the format problem, it wouldn’t straighten out in text, and I don’t do tables by hand.
The chart in an article that was linked in the one you mention also shows that Virginia has plenty of property that is considered ‘overvalued’ by the authors of that study. This includes Charlottesville, at $241,200 as a median price, and 30.40% ‘overvalued’.
Some other cities:
Richmond VA $179,300 15.40%
Harrisonburg VA $172,100 14.70%
Lynchburg VA $133,300 8.70%
Roanoke VA $145,200 10.90%
Virginia Beach-Norfolk VA-NC $212,700 30.60%
Sorry for the format problem, it wouldn’t straighten out in text, and I don’t do tables by hand.
Linky: CNN Money – Overvalued RE Markets
Seeing the way that Loudoun and has changed over the past decade, this news certainly does not surprise me.