The Fredericksburg area consists of Fredericksburg City, Caroline, Spotsylvania, Stafford and King George Counties. This area has seen it's share of ups and downs since winter. Comparing recent home sales to that of March, it appears that Fredericksburg is slowly climbing out of the real estate break.
There were 377 homes that sold in April, 2014. That was an increase of 7.71 percent from that of last month. The total sold volume was $100,714,514, an increase from March of 6.73 percent. The median sold price on Fredericksburg area homes was $250,000. This was an increase of .95 percent of last month. The average sold price was $267,147, decreased by .91 percent compared to last month. The average amount of time a home stayed on the market was 87 days, an increase of 1.16 percent from last month. The average sold to original list price ratio was 95.47 percent.
The big winner for increased home sales for the area was the City of Fredericksburg, an increase of 47.37 percent compared to last month. Caroline County was second with an increase of 29.17 percent and King George was third with a 10.53 percent increase. The only county that showed a decrease in sales compared to last month was Spotsylvania, which sales went down by 2.22 percent.
Pending contracts varied in the area. Spotsylvania County was the big winner here, showing a 23.81 percent increase from last month. Caroline was the biggest loser with a decrease of 19.18 percent. Stafford was down .87, King George was down 3.03 percent and Fredericksburg City was down on active contracts by 8 percent.
I've noticed Fredericksburg real estate activity pick up in the last few days. With warming temperatures and school years ending, I predict the market to heat up quickly. My worry is inventory. Sellers are holding off on listing their homes for the market to get better. They need to get their homes listed now to get ready for the selling season. Buyers are also holding out for the inventory to increase. Growing inventory should set off buyer frenzy.
Please observe the graph below brought to you by Real Estate Business Intelligence. This information is automatically updated.
By: Tom Smith
Associate Broker
Century 21 Adventure Redwood
Fredericksburg, VA 22407
www.fredericksburgagent.com

The Fredericksburg home sales market is slowly recuperating after a very cold winter and low home sales. Lower than expecte...

The Mid Atlantic median real estate home sales report is in, brought to you by the Real Estate Business Intelligence Network. Use the interactive chart below to follow the sold trends in the Mid Atlantic Region. We are definitely coming out of a slump. The average sold price for February was $285,000, up from $271,000 in January. The increase in sold median price of homes was up 6.3 percent than that of the area one year ago. The downfall we shared in January was the lowest of the season, though it was up 5.5 percent from last January. Factors to blame for the fall are low inventory, harsh winter conditions, increased interest rates and our current economy following the scare of the Federal Government shut down. With temperatures beginning to rise and sellers starting to list their homes again, we are seeing market conditions healing with increased long awaited activity.

By: Tom Smith
Associate Broker, Century 21 Adventure Redwood
tsmithc21@gmail.com
540-735-2266

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