Fredericksburg Real Estate Market Trends – Virginia

News for Fredericksburg, VA - December 21st, 2011 12:57pm
The real estate market in the Greater Fredericksburg Region remained in the doldrums for much of the year after it came back to life during the spring season. The market has been stymied by the same factors affecting the national market, essentially bundled as uncertainty in the direction of the entire economy. The majority of activity continues to be in the low to mid price ranges (under $250,000). We believe we're nearing a turnaround locally because the inventory of homes on the market is the lowest it's been since 2005 when the market was at its peak and homes were selling virtually overnight. Now there are fewer buyers in the market but homes are taking an average of 60-70 days to sell, which represents a very balanced market. The Spring 2012 market will be the key indicator of the direction of the market going forward. Those buyers who jump off the fence this winter will have a distinct economic advantage over those waiting until Spring because they'll avoid the competition that's likely to come for scarce listings while also enjoying the lowest interest rates in several generations.

Summer Market News for Fredericksburg, VA - June 7th, 2011 9:24pm
The real estate market in the Greater Fredericksburg Region came back to life this spring season and has continuing momentum as we enter summer. The majority of activity continues to be in the low to mid price ranges (under $250,000) but sales in the higher price ranges have started to move as well after a long dormant period. Supplies of mid-range single-family housing in prime locations and in good condition have diminished to the point that new listings are garnering multiple offers in many areas. Prices generally remain stable while interest rates remain at unbelievably low levels continuing the buying opportunity that has prevailed for the past year.

News for Fredericksburg, VA - March 17th, 2011 2:10pm
The real estate market in the Greater Fredericksburg Region shows significant signs of life as we enter the spring season. While the preponderance of activity continues to be in the "under $200,000" range, greater interest is apparent in the higher price ranges as more incoming relocations are occurring. There is still a healthy supply of homes on the market and prices and interest rates remain extremely attractive.

News for Fredericksburg, VA - December 15th, 2010 9:32am
The real estate market in the Greater Fredericksburg Region has slowed considerably since early 2010 with the majority of the activity continuing to be in the "under $200,000" ranges. The majority of sellers have either reduced their asking prices substantially or withdrawn from the market as they face continued competition from foreclosures and short sales. With mortgage interest rates continuing at extremely low levels the market continues to be very attractive for qualified buyers. Because unemployment rates have started to improve locally along with the additional traffic from BRAC (Base Realignment Commission) transferees the expectation is that the market will be reinvigorated in the coming year. Time will tell...