The following table represents the market in the City of Fredericksburg, Virginia:
|Percent of Original Price||95.5%||90.0%||6.1%|
As with most area localities, the City of Fredericksburg is showing a year-to-date increase in pending sales due to the number of short sales in various stages of negotiation. Though not reflected in the data above, there has been a year-to-date drop in sale price of about 28% that can be attributed to the number of foreclosure sales. However, sale prices in the historic district have decreased at a lesser rate.
The percent of original listing price received at sale is showing a steady increase, indicating a reduction in inventory and increase in buyer confidence. With all things considered, now is still a great time for move-up buyers to seize the opportunity to live in this charming, historic city.
Market data, commentary and statistics provided by Judi Jones, Managing Broker, Avery-Hess, Realtors
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