Our spring market in the Fredericksburg region has been much hotter than our weather! Buyers are out taking advantage of great interest rates and housing prices. Sellers are able to take advantage of low housing inventories and somewhat stable prices. We experienced a very busy start to our year that has been very steady up until the beginning of April. We had a little lull the first part of this month, most likely due to the worry of the government shutting down, but we are now starting to pick back up again!
Stafford County has some pretty interesting statistics going on. The last quarter of 2010 we ended with an overall slight median sales price increase. So far March of 2011 compared to March 2010 the median sales price has decreased -7.8% to a price of $212,000. New listings are down -29.2% which is a huge decrease.
There really is no rhyme or reason to these numbers considering the amount of sales occurring. Closed sales are up 14.7% from this time last year and pending sales are up 12.2%! That is good news and shows that what we are feeling is in fact happening. Please read on for more statistics:
STAFFORD MARKET STATS
|MARCH||YEAR TO DATE|
|Median Sales Price||229,945||212,000||-7.8%||230,000||203,300||-11.6%|
|% of Orig. List Price
|Days on Market until sale||77||76||-1.2%||70||78||+11.3%|
No matter what these numbers say, Stafford is located in a fantastic area between Washington D.C. and Richmond. We always have a stronger market than other parts of the country due to our proximity to the nation’s capital. This area has so much to offer that people will continue to want to make Stafford County their home for many years to come!
Commentary and market stats provided by Amy Cherry-Taylor, Business Manager, Stafford Regional Office.
Search for Home in Stafford County: www.averyhess.com