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Homes For Sale in Fredericksburg VA

By Ed DeChristopher

Real Estate Agent with Fredericksburg Realty, Inc.

August 20, 2007 08:23 AM

Homes for sale in Fredericksburg VA continue to be some of the best bargains in the Washington DC area.

Fredericksburg is only 50 miles south of Washington and about the same distance from Richmond VA. Thousands commute to jobs in the Washington area every day.

The median price for homes that sold in Fredericksburg (that includes Spotsylvania, Stafford, King George, and Caroline counties) during July 2007 was $316,000. That is good news for buyers and not so good news for sellers. In July 2006 the median sales price was $339,950. That is a drop of 7.05%!

For more information about homes for sale in Fredericksburg VA you might want to visit this website.

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Dawn DeGroff

Fredericksburg Realty, Inc - Fredericksburg, VA

Ouch! That is quite a big drop! It really hurts the sellers, especially those who bought when the market was "hot". There must be a lot of people going to the settlement table with cash.

Aug 22, 2007 02:11 AM

Ed DeChristopher

Fredericksburg Realty, Inc. - Fredericksburg, VA

CRS Fredericksburg VA

Good thought. I have had only one client/seller go to the table with cash. She took out a second loan and had to repay it in addition to her first. Unfortunately, it was a loan that had to be made and she did not have to bring too much to the table.

Aug 22, 2007 03:03 AM

Cynthia Tilghman, Realtor® Onslow County NC Home Specialist

Kingsbridge Realty, Inc - Hubert, NC

Hi Ed,
The drop is painful for the sellers but what an opportunity for buyers. So where are they? I would think those DC people would be flocking to your area. I have a brother in Great Falls with a house on the market--that is an expensive area. Thanks.

Aug 26, 2007 12:44 AM

Cynthia - Buyers are as rare as hen's teeth. We normally have many buyers coming down here from Northern Virginia/DC area. However, with the market like it is there, we are suffering. The metropolitan DC area is considered somewhat insulated from the ups and downs of real estate. Such is not the case at this time. Feel that if the interest rates drop 2-3% it will stimulate the market around the country; think that is what has to happen. The commercial market is also very slow right now.

This has happened before and we recovered; just a matter of time.

Aug 26, 2007 01:50 AM

Homes For Sale in Fredericksburg VA

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