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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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Area housing prices rose in May

Fredericksburg-area housing prices rose in May.

The median price for the 412 homes that sold last month through the Multiple Listing Service in the Fredericksburg area was $255,000.

That was up about 2.04 percent year-over-year, according to Metropolitan Regional Information Systems data released Tuesday.

Total sales volume fell from last year’s May total, but surpassed last month at $114 million.

The number of homes sold fell 8.6 percent year-over-year.

There were 2,020 local homes listed for sale at the end of April, up 34 percent year-over-year.

Homes spent about two months on the market  on average and sold for about a 4 percent discount to the list price.

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