Parts of the Fredericksburg, Va., real estate market enjoyed an increase in the number of homes sold in July, 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 July data, the number of homes sold increased in portions of the Fredericksburg area compared to the year before, with Culpeper County seeing a 23 percent jump. Spotsylvania County enjoyed a 17 percent increase, while Stafford County saw an increase of 2 percent and Fredericksburg City saw no change. The number of homes sold in Caroline County dropped by 12 percent.

Median sale prices varied in the Fredericksburg region in July compared to the same month in 2014. Prices rose by 6 percent in Stafford County and by 4 percent in Fredericksburg City. Caroline County saw no changes in median sale prices, and both Culpeper and Spotsylvania counties experienced a 4 percent fall in median sale price.

Inventory declined in most of the Fredericksburg region, dropping by 14 percent in Spotsylvania County and by 13 percent in Culpeper County. Active inventory decreased by 12 percent in Caroline County. Stafford County saw a decrease of 9 percent, while Fredericksburg City saw active inventory increase by 13 percent.

Homes in the Fredericksburg region continue to sell at a steady pace, with Culpeper County experiencing the shortest marketing period at 46 days on market (DOM). Spotsylvania County saw a DOM average of 47 days, followed by Stafford County at 51 days. In Caroline County, homes sold in 69 days on average, and in Fredericksburg City they sold in 83 days on average.

“The United States’ economy has been having a good summer, and the positivity we’ve been seeing in previous months continued in July. The real estate industry also reflected these trends, which was evident in reports from the Fredericksburg and surrounding region,” said Jeffrey S. Detwiler, president and chief operating officer for The Long & Foster Companies. “We feel confident that we’ll continue to see improvements in the market, and look forward to what the end of summer and start of fall will bring.”

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.

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