The Fredericksburg, Va., real estate market enjoyed an increase in the number of homes sold in April, according to The Long & Foster Market Minute reports. The Fredericksburg market includesFredericksburg City and Spotsylvania, Stafford, Culpeper and Caroline counties. The Long & Foster Market Minute reports are compiled from data from residential real estate transactions within specific geographic regions, not just Long & Foster sales.

 

According to April data, the number of homes sold increased in most of the Fredericksburg area compared to the year before, with Caroline County seeing a 23 percent jump. Spotsylvania enjoyed an 11 percent increase, while Culpeper and Stafford counties saw increases of 5 percent and 2 percent, respectively. Fredericksburg City experienced a 14 percent drop in the number of homes sold.

Median sale prices varied in the Fredericksburg region in April compared to the same month in 2014. Prices rose by 10 percent in Caroline County followed by a 7 percent increase in Fredericksburg City. Spotsylvania County saw its median sale price rise by 6 percent. In Stafford County there was no change in median sale price year-over-year, and Culpeper County saw the only decrease with a dip of 4 percent.

Inventory declined in most of the Fredericksburg region, dropping by 16 percent in Caroline County and by 9 percent in Stafford County. Active inventory decreased by 8 percent in Spotsylvania County. Culpeper County saw a decrease of 2 percent, while Fredericksburg City saw active inventory increase by 26 percent.

Homes in the Fredericksburg region continue to sell at a steady pace, with Spotsylvania County experiencing the shortest marketing period at 54 days on market (DOM). Fredericksburg City followed with a DOM of 60 days, and Stafford County had a DOM of 63 days. The DOM averages were 71 days in Caroline County and 86 days in Culpeper County.

“April showed us that there are some great things happening in the Mid-Atlantic and Northeast real estate market, including in the Fredericksburg region where we saw an increased number of homes sold,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “The conditions of the real estate market in many areas of the country are providing excellent opportunities for both buyers and sellers, and we’re pleased to see a nice robust spring market.”

The Long & Foster Market Minute is an overview of market statistics based on residential real estate transactions and presented at the county level. The easy-to-read and easy-to-share reports include information about each area’s units sold, active inventory, median sale prices, months of supply, new listings, new contracts, list to sold price ratio, and days on market. Featuring reports for more than 500 local areas and neighborhoods in addition to more than 100 counties in eight states, The Long & Foster Market Minute is offered to buyers and sellers as they aim to make well-informed real estate decisions.

The Long & Foster Market Minute reports are available at www.LongandFoster.com, and users can subscribe to free updates for the reports in which they’re interested.