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Lindley Estes is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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Fredericksburg-area home sales growth rate tops state in Q2

Fredericksburg-area home sales grew at the highest rate in Virginia in the second quarter, according to a report released today by the Virginia Association of Realtors.

There were 1,222 sales in the area (Fredericksburg, Stafford, Spotsylvania, Caroline and King George) in the three months ending June 30 compared with 976 in the second quarter of 2008. That’s a 25.2 percent increase. Pending sales rose 44.8 percent.

The growth in sales came at a price, actually a declining one. Median sales prices in the second quarter fell 24.2 percent in the area, one of the sharpest declines in the state. About half the area sales last quarter were foreclosures or short sales.

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Permalink: http://news.fredericksburg.com/businessbrowser/2009/07/23/fredericksburgarea-home-sales-growth-rate-tops-state-in-q2/

  • Fredtastic

    while the prices may be down, getting the inventory (particularly the foreclosure inventory) down is important too.

  • observer

    Have just found your blog and as an investor it is great,
    keep up the good work. Also with family income in our
    very high due to vast infusions of government payroll
    cash it seems like a seller would not have to take a 25%
    haircut.

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