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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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Area housing prices up in April

Fredericksburg-area housing prices rose in April, and total sales volume surpassed $100 million for the first time this year.

The median price for the 377 homes that sold last month through the Multiple Listing Service in the Fredericksburg area was $250,000.

That was up about 7.8 percent year-over-year, according to Metropolitan Regional Information Systems data released Monday.

There were 1,934 local homes listed for sale at the end of April, up 37 percent year-over-year. There was about a five-month supply of homes for sale.

Homes spent about three months on the market before getting a ratified contract on average and sold for about a 4.5 percent discount to the list price.

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

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Permalink: http://news.fredericksburg.com/businessbrowser/2014/05/12/area-housing-prices-up-in-april/