Happy 2015 Fredericksburg! We are excited to present the 2014 edition of the Nest Realty Annual Report.
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. At Nest, we believe it is important that our clients be well-equipped to make confident, informed decisions when it comes to buying or selling a home. One of the ways we do this is by synthesizing vast amounts of data to provide you statistics and metrics that are relevant to you and our local market.
After the tremendous growth we experienced from 2012 to 2013, the Fredericksburg area real estate market experienced a slight dip in performance in 2014. Most areas saw a slight decline in sales totals, with the City of Fredericksburg and King George county being the exceptions. In a year in which we expected interest rates to rise, surprisingly we saw rates drop which led to first-time homebuyers making up a significant segment of our market. Overall, while we saw a year-over-year decline in the market, performance was above the historical, five-year average. To learn more about how the Fredericksburg market performed last year, take a look at the highlights below and read the full 2014 Nest Realty Annual Report here!
- Total sales in the Fredericksburg area MSA declined almost 1.5%
- Median sales price in the City of Fredericksburg rose more than 9.5%
- Months of inventory in the Fredericksburg area MSA increased to approximately 5 months
- Median sales price in Prince William county achieved a five year high
Have questions? Don’t hesitate to reach out directly to your Nest Broker to learn more!