Spotsylvania County Market Report – 9/24/13

24 Sep
September 24, 2013

Spotsylvania County offers every type of home and community – from suburban planned communities to rural horse properties. This variety makes it a prime area for home buying activity.

Home sales have been steadily increasing this year – up 30.77%!  The median sold price is up 11.6% since last year, and the average sales price is up 17.62%. In fact, every statistic except the days on market – the time it takes to sell a home – have risen, but it only takes on average 57 days for a home to sell. This indicates a strong market for all types of housing, sometimes with multiple offers, and prices very close to the list price. 

While interest rates have increased slightly, the Spotsylvania area still offers great value, which makes it a popular destination for homebuyers. There are also quite a few new homes now being built for those who prefer new construction.

Statistic Values YoY MoM
Total Sold Dollar Volume  $41,279,236 +33.58% -18.53%
Closed Sales   159 +13.57% -19.7%
Median Sold Price $229,000 +11.60% +2.45%
Avg Sold Price $259,618 +17.62% +1.45%
Avg Days on Market 57 -13.64% +5.56%
Avg Sold to Orig List Ratio 97.41% +2.26% +0.43%

Close to historic Fredericksburg, the I-95 corridor to Washington and Richmond, and Marine Corps Base Quantico, convenience is another feature of life in Spotsylvania.

The county contains golf courses, parks, wineries, marinas and Civil War battlefields. The Central Park shopping area is one of the largest on the East Coast, and the area has over 100 eateries of all kinds.

Another aspect of Spotsylvania County is the availability of homes surrounding Lake Anna, a 13,000 acre lake that attracts both local and out-of-state buyers. Boat and jet ski rentals, along with waterfront restaurants and lodging make this state park a water lover’s paradise.

 Market data and commentary provided by Pat Kline, Manager of the Fredericksburg Regional Office, Avery Hess Realtors.

 

 

 

 

 

Erica Higgins

Administrative Manager & Marketing Assistant at Avery-Hess, Realtors
Front Royal
Office: (540) 631-9009
Email: ehiggins@averyhess.com

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