Areas of the Fredericksburg, Va., real estate market enjoyed an increase in the number of homes sold in June, according to The Long & Foster Market Minute reports. The Fredericksburg market includes Fredericksburg City and Spotsylvania, Stafford, Culpeper and Caroline counties. The Long & Foster Market Minute reports are based on data provided by Metropolitan Regional Information System and its member associations of Realtors and include residential real estate transactions within specific geographic regions, not just Long & Foster sales.

According to June data, the number of homes sold increased in much of the Fredericksburg area when compared to the year before, with Caroline County seeing a 64 percent jump. Culpeper County followed with a 20 percent increase and in Spotsylvania County the number of homes sold rose by 13 percent. Stafford County saw the number of homes sold decrease by 7 percent, and Fredericksburg City saw a decline of 15 percent compared to last year.

Median sale prices varied in the Fredericksburg region in June compared to the same month in 2015 with prices rising by 2 percent in both Spotsylvania and Stafford counties. In Culpeper County, the median sale price increased by 1 percent. Fredericksburg City and Caroline County experienced declines of 4 percent and 5 percent, respectively.

Inventory declined throughout the Fredericksburg region, dropping by 32 percent in Caroline County and by 21 percent in Fredericksburg City. In Spotsylvania County, active inventory declined by 20 percent, followed Stafford County with an 18 percent decrease and Culpeper County with a 15 percent decrease.

Homes in the Fredericksburg region continue to sell at a steady pace, with Stafford County experiencing the shortest marketing period at 37 days on market (DOM). Spotsylvania County saw a DOM average of 38 days, followed by Fredericksburg City at 45 days. In Culpeper County, homes sold in 52 days on average, while the DOM average in Caroline County was 65 days.

“We’re more than halfway through 2016, and this year has brought steady improvements to the real estate market across the Mid-Atlantic and Northeast, including in the Fredericksburg region,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “Between the low inventory of available homes and the decreased mortgage rates due to Brexit, this summer’s market has been brisk. We anticipate that the strong housing market will continue into the fall.”

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 you can subscribe to free updates for the reports in which you’re interested. Information included in this report is based on data supplied by MRIS, which is not responsible for its accuracy. The reports do not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate.