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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.
Long & Foster reports strong housing trends in May
The greater Fredericksburg real estate market experienced positive trends year-to-date in May, according to a Long & Foster “Market Minute” reports.
According to the report, median sale price increased in most areas of the region.
Similar numbers were reported last week from a Fredericksburg Area Association of Realtors roundup of area housing sales.
Long & Foster’s report includes the city of Fredericksburg and Spotsylvania, Stafford, Culpeper and Caroline counties. Culpeper was not included in the earlier report.
According to May data, the median sale price increased in the Fredericksburg area compared to the year before.
Culpeper County experienced the largest increase in median sale price at 14 percent.
Stafford County saw a 7 percent increase, while Caroline County saw a 4 percent increase.
Spotsylvania County experienced a 3 percent increase, and Fredericksburg City saw the only decrease, at 8 percent.
Homes in the Fredericksburg region are steadily selling, the report said.
Stafford County experienced the shortest marketing period of 44 days.
Spotsylvania County followed with a 48 day marketing period, and Fredericksburg City saw 66 days.
Other areas saw averages of 71 to 78 days.
However, the number of homes sold in the Fredericksburg region decreased in most areas.
Culpeper County was an exception, and experienced a 12 percent increase compared to the same month in 2013.
Active listings increased throughout the region.
The Long & Foster “Market Minute” reports are compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.