Much of the Fredericksburg, Va., real estate market enjoyed a rise in the number of homes sold in January, according to The Long & Foster Market Minute reports. The Fredericksburg market, which includesFredericksburg City and Spotsylvania, Stafford, Culpeper and Caroline counties, also continued to see homes selling at a steady pace. 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 January data, the number of homes sold increased in the entire Fredericksburg area compared to the year before, with Fredericksburg City seeing a 100 percent spike. Both Caroline and Culpeper counties saw increases of 38 percent. Stafford and Spotsylvania counties saw more modest increases of 8 percent and 4 percent, respectively.

Median sale prices varied in the Fredericksburg region in January compared to the same month in 2014. Prices rose by 16 percent in Stafford County and by 13 percent in Spotsylvania County. Caroline County saw a decrease of 11 percent, while both Culpeper County and Fredericksburg City saw drops of 6 percent.

Inventory declined in parts of the Fredericksburg region, dropping by 6 percent in both Caroline and Spotsylvania counties and by 4 percent in Stafford County. Active inventory increased by 2 percent in Fredericksburg City and jumped by 9 percent in Culpeper County.

Homes in the Fredericksburg region continue to sell at a steady pace, with Caroline County experiencing the shortest marketing period at 55 days on market (DOM). Stafford County followed with a DOM of 66 days, and Spotsylvania County had a DOM of 78 days. The DOM averages were 89 days in Fredericksburg City and 106 days in Culpeper County.

“In January, we saw some positive trends happening in the Mid-Atlantic and Northeast real estate market, including in the Fredericksburg region, where the entire region saw rising numbers of homes sold,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “These are some good developments in the world of real estate, and we’re expecting to see a healthy spring market in 2015.”

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.