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Business Insider

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

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Local housing prices up in November

Fredericksburg-area housing prices were about 12 percent higher in November compared with a year ago, a trend that appears to be convincing more people to put their homes up for sale.

The median sales price for a Fredericksburg-area home sold through the Multiple Listing Service in November was $240,000, according to Metropolitan Regional Information Systems Inc. data released Tuesday.

There were 299 homes sold through the MLS in November in the region — Fredericksburg and Caroline, King George, Spotsylvania and Stafford counties. Homes sold for about a 5 percent discount to list price and spent about 81 days on the market before selling.

The number of homes actively listed at the end of November, 1744, was 26 percent higher than a year ago. That is likely due in part to the higher prices year-over-year, which enables more home owners to sell their properties.

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