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Jeff Branscome writes about Spotsylvania County.

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Home prices drop

As the reassessment of county property is in full swing, here is the most-recent update from Commissioner of Revenue Deborah Williams:

The Metropolitan Regional Information System shows that for the month of August the median sale price of the 146 homes that sold in Spotsylvania decreased by 12.79 percent from a month earlier. The median sale price was $190,500, down from $218,450 in July. This is the biggest drop since January 2008.

Williams writes that the residential real estate market continues to be "very erratic" with month-to-month percentage differences since January 2008 ranging from an increase of 15.78 percent in May 2009 to a decrease of 12.79 percent in August. 

 

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Permalink: http://news.fredericksburg.com/spotsygovt/2009/09/24/home-prices-drop/

  • 1958

    so taxes on out homes are going down a lot?

  • dantelvock

    1958, the board voted this past budget to equalize the tax rate. So, what this means is although your home value may drop, you could pay close to the same as you do now. Supervisor say they’ve cut more than 30 million from the budget over the past few years and that a possible 20 percent loss in real estate tax revenue could cause major problems for the county.