MEDIAN HOME SALE PRICE IN AREA SLIGHTLY HIGHER IN NOVEMBER
November home prices in the Fredericksburg area
BY BILL FREEHLING
Date published: 1/12/2008
BY BILL FREEHLING
The median sales price for a house in the Fredericksburg area was $300,000 in November, a slight rise from the month before.
The median price in October had dipped to $292,000 in the Fredericksburg area. That was the first time since April 2007 that the median sales price of a house was less than $300,000.
Although the median sales price in the area rose between October and November, it trailed the median November 2006 sales price of $324,900 by 7.7 percent.
The Virginia Association of Realtors provided the sales data. The association defines the Fredericksburg area as the city in addition to Spotsylvania, King George, Caroline and Stafford counties. It also includes a portion of Westmoreland County.
Housing prices in the Northern Neck saw a nice jump between November 2006 and November 2007. The median sales price of the 42 Northern Neck homes that sold this past November rose 24.4 percent to $331,000, one of the best growth rates in Virginia.
Statewide, median sales prices fell only slightly in November from the year before. The median sales price in Virginia was $232,500 in November.
In the Fredericksburg area, 220 houses sold in November, a 34 percent drop from the year before. Houses spent an average of 138 days on the market.
Statewide, houses sold in November spent about 136 days on the market. The 10-year average is 122 days, according to the Virginia Association of Realtors.
Bill Freehling: 540/374-5405
Email: bfreehling@freelancestar.com
Date published: 1/12/2008
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