Real Estate Market Report Shows Total Sales and Contract Activity Up
We’ve recently released the Fredericksburg 2015 third quarter Real Estate Market Report. Consumer confidence and demand continues to be strong throughout the Fredericksburg area as we move into the fourth quarter of the year. Overall, inventory levels are declining and prices are starting to rise, but total sales and contract activity are both up compared to Q3 2014. Here are some highlights from the Fredericksburg Q3 2015 Market Report:
- Total sales are up 9% on a year-over-year basis.
- Townhomes are most affordable at $114 per square foot, but demand remains highest for single family homes.
- Inventory levels are down 3% compared to Q3 2014.
- Total sales increased 15% on a year-over-year basis.
- Median sales prices jumped up to $320,000 this past quarter.
- Contrary to other geographic segments, inventory levels rose 4% compared to the same time last year.
View the full Fredericksburg Real Estate Market Report here. Have questions about the report, or ready to start your home search? Contact your Nest broker today to start the conversation.