Much of the Fredericksburg, Va., real estate market enjoyed an increase in median sale price in November, 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.

Median sale prices rose in the majority of the Fredericksburg region in November compared to the same month in 2014. Prices rose by 16 percent in Fredericksburg City and by 2 percent in Spotsylvania County. Both Caroline and Stafford counties saw a 1 percent increase and in Culpeper County the median sale price decreased by 10 percent.

According to November data, the number of homes sold varied in the Fredericksburg area when compared to the year before, with Fredericksburg City seeing a 29 percent jump. Spotsylvania County experienced a 3 percent increase, and Stafford County saw a decrease of 9 percent. Culpeper County saw a 23 percent decrease in the number of homes sold compared to November 2014, and Caroline County experienced a 29 percent drop.

Inventory declined in the Fredericksburg region, dropping by 16 percent in Culpeper County and by 15 percent in Caroline County. In Spotsylvania County, active inventory dropped by 11 percent, followed by Stafford County where inventory decreased by 10 percent. Fredericksburg City saw a 4 percent decrease.

Homes in the Fredericksburg region continue to sell at a steady pace, with Stafford County experiencing the shortest marketing period at 62 days on market (DOM). Fredericksburg City saw a DOM average of 64 days, followed by Spotsylvania County at 73 days. In Caroline County, homes sold in 76 days on average, and in Culpeper County they sold in 98 days on average.

“November brought a number of positive things to the United States’ economy, with additional jobs and increases in home construction being among them, and we saw good signs within the Long & Foster market as well,” said Jeffrey S. Detwiler, chief operating officer of The Long & Foster Companies. “Within the Fredericksburg region, we saw continued improvements in median sale prices, and we anticipate a steady and healthy real estate market in 2016.”

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, Inc.