As we do every quarter (and every year), Nest Fredericksburg has run the numbers for the first quarter of 2014 (Q1 2014). What did we find out?
Nest Realty Fredericksburg Q1 2014 Real Estate Market Data (abbreviated market analysis):
- Total Sales: Total Sales decreased by 4.08% across the Fredericksburg area MSA. The only two areas in which sales didn’t decrease significantly were Stafford and King George where sales levels were flat.
- Median Home Prices: Median home prices rose by 9.05% across the Fredericksburg area MSA. This trends shows that on the whole, homes are continuing to regain their value after several quarters of depressed values.
- Inventory: The weather impacted inventory earlier in the quarter, but as the weather improved new listings began to hit the market. Sellers seem to be more hopeful than Q1 2013, but the weather increased the length of time homes spent on the market.
- Contracts Written: The number of contracts writen rose 8.29% from Q1 2013 to Q1 2014, indicating that sales activity is on the rise. Contracts are also averaging 97.7% of list price, indicating buyers’ willingness and confidence to invest in the market.
Want to learn more about Fredericksburg‘s Q1 real estate market data? Want to be added to the mailing list for these quarterly reports or our Nest Realty Annual Reports? Email Nest Fredericksburg’s Principal/Managing Broker Sarah Stelmok today!