Caroline County, VA Market Report – 10/6/09

06 Oct
October 6, 2009

The following statistics reflect the market conditions in Caroline County, Virginia:

  • New listings: 81
  • Closed Sales: 38
  • Pending sales 22
  • Median sales price $135,00
  • Percent of original price at sale: 90.8%
  • Average days on market:135
  • Total inventory (residential): 246

Caroline is a mostly rural county that is located south of Fredericksburg. According to the Associated Press monthly analysis, it is among the top five counties in the United States with the most improved foreclosure rate between July and August 2009.

As with most local markets, Caroline is showing an increase in the percent of original sale price received at settlement, up to 90.8% in August from 88.8% in July of this year. Additionally, available inventory is remaining steady.

One of the reasons for the relatively healthy market in Caroline County is the availability of homes in several lake-oriented communities that appeal to buyers across the board in the entry-level, retirement, and second-home categories. The area also allows for a reasonable commute to Northern Virginia, Fredericksburg, and Richmond.

The new home market in Caroline is also showing signs of recovery due to affordability and location. Previously overlooked, buyers are beginning to discover this less densely populated area with country charm.

Market data and commentary provided by Judi Jones, Managing Broker, Avery-Hess, Realtors

Search for homes in Caroline, and all of the DC Metro: www.averyhess.com

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