Home Prices in Spotsylvania VA for May 2014
Real estate market data for Spotsylvania, VA provided by Barbara Jennings of Keller Willliams Real Estate .
Spotsylvania Home Prices
We have seen 7 straight months of listing inventory increases and in most home prices in Spotsylvania have too 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 Spotsylvania 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 Spotsylvania home on which you are making an offer.
If you are interested in how much current inventory is on the market in Spostylvania 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 Spotsylvania, homes have a median time of 39 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 Spotsylvania has multiple offers coming in on homes similar to what we saw back in 2003. 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.
Spotylvania Real Estate Report Summary
The number of active listings in Fredericksburg (22407) increased by33.4% from the previous month.
The median number of days active properties have been listed is 39. This is significantly shorter than the national average.
The number of sales in May dropped by 81.4% from the previous month.
Find Homes for Sale in Spotsylvania VA
Visit my website to search for homes in Spotsylvania or to be notified when Spotsylvania homes come on the market.
To find out what you home is worth in the current market call 540-840-1133.
Home Prices in Spotsylvania VA for May 2014 Market Report
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