Happy 2016 Fredericksburg! Each year as we prepare for the spring market, we first take a look back at the year that was in our local real estate market. We are proud to present the 2015 edition of the Nest Realty Annual Report. We know that you’re often inundated with real estate market data that can be difficult to decipher. Our goal at Nest is to provide you with local, relevant, easy-to-understand data to empower you to confidently make informed decisions when the time arrives.
After a slight drop in total sales in 2014, the market in the Fredericksburg metropolitan statistical area (MSA), which includes the City of Fredericksburg, Caroline, King George, Spotsylvania, and Stafford counties, rebounded strongly in 2015. Total sales rose significantly reaching a five year high. Average sales prices also continued to climb in most counties throughout the area. Homes sold much faster this past year in every county, experiencing a drop in average days on market, except Madison County, in which average days on market remained unchanged. We will be closely monitoring inventory levels in 2016, as limited inventory could put upward pressure on prices and constrain total sales. To learn more about how the Fredericksburg market performed last year, take a look at the highlights below and read the full 2015 Nest Realty Annual Report HERE!
- Sales in the Fredericksburg MSA rose more than 13%, totaling 5,157
- Median sales price in City of Fredericksburg rose approximately 7%
- Average days on market dropped nearly 20% to 61 days
Have questions? Don’t hesitate to reach out directly to your Nest Broker to learn more.