Home Prices in Fredericksburg VA for March 2014

 

 

We have seen consecutive months of listing price increases on home prices in The City of Fredericksburg Va and don’t expect things to slow down anytime soon.  If you are considering buying a home you can still find deals on a house in Fredericksburg but having a good real estate agent who understands the market is a must.  Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market. As you can see from the graph below, listings are not selling exactly for asking price. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Fredericksburg home on which you are making an offer.

If you are interested in how much current inventory is on the market in Fredericksburg you can find that information by clicking on the link. High inventory will suggest that homes are sitting on the market for longer. Currently in this area of Fredericksburg, homes have a median time of 54 days on the market before they sell. This would suggest that buyers are in a great position to make an aggresive offer on a home. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. Low inventory in Fredericksburg has multiple offers coming in on homes similar to what we saw back in 2007. I wouldn't expect home prices to run up quite as fast as they did back then as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise.