Although I tout my blog as being "Musings about historic Fredericksburg Virginia . . ." think it is time to get back to some information about the Fredericksburg Va real estate market.
An excellent indication of the health of the real estate market is how long it takes homes to sell. There certainly has been a significant change in this over the past year or two. Unfortunately, it seems to be taking more and more time to have a home sold today than it did a few years ago. Our local MLS, the Metropolitan Regional Information System (MRIS) has begun publishing graphs to depict this information. You may remember that I had derived my own graph from the statistics provided us.
Here is what the MLS system portrays for the number of days it takes to get a home sold in our region; that is Fredericksburg, Stafford County, Spotsylvania County, King George County, and Caroline County.
The red/orange bar depicts the time it took during Jan - Apr of this year for a home to get sold; each bar is hovering around the 120 day horizontal line. Note that in previous years the highest number was about 75 days.
The message? Sellers should expect to have their home on the market almost twice as long as it would have taken last year!
Next question that I will answer is "How many homes are there for sale in the Fredericksburg Virginia area when compared to previous years?"
For specific information about our beautiful and historic region merely click here.
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