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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 market had strong December

The Fredericksburg-area housing market closed out 2013 with a month whose performance easily exceeded that of the year prior.

The median sales price for houses sold through the Multiple Listing Service in the Fredericksburg area in December was $245,000. That was up 16 percent from December 2012.

There were about 17 percent more local sales in December than a year ago, and total dollar volume was up about 32 percent.

There was only about a five-month supply of homes on the market at the end of December. Homes spent an average of 72 days on the market before getting a ratified contract and sold for about a 5 percent discount to list price.

The Fredericksburg area comprises the city and Caroline, King George, Spotsylvania and Stafford counties.