Report shows positive housing trends locally
The greater Fredericksburg real estate market has experienced positive trends over the past year, according to a Long & Foster report.
According to the “Market Minute” report, the median sale price was up in most areas of the region in May compared with a year ago. 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.
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. Fredericksburg saw the only decrease, at 8 percent.
Homes in the Fredericksburg region are steadily selling, the report said.
Stafford experienced the shortest marketing period of 44 days. Spotsylvania followed with a 48-day marketing period, and Fredericksburg was 66 days.
Other areas had 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, experiencing a 12 percent increase in May compared with 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 in the region, not just its own sales.
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