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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.
Area home prices fell slightly in June
Fredericksburg-area housing prices fell slightly in June even though some localities made significant gains.
The median price for the 471 homes that sold last month through the Multiple Listing Service in the Fredericksburg area was $255,000.
That was down about 1.9 percent year-over-year, according to Metropolitan Regional Information Systems data.
The region’s housing prices showed no change since May.
Total sales volume, however, rose 8.1 percent from the same month in 2013, and more than 14 percent from May.
Homes spent an average of 66 days on the market in June.
Fredericksburg’s home prices rose more than 23 percent between June 2013 and June 2014 from $250,000 to $307,900.
Caroline County saw the largest percentage increase, with prices rising more than 37 percent year-over-year from $133,000 to $183,000.
Stafford saw a slight gain of just over 1 percent in home prices.
King George and Spotsylvania saw home prices fall 13 percent and 8 percent respectively.
The Fredericksburg area comprises the city and Caroline, King George, Spotsylvania and Stafford counties.