Fredericksburg-area median housing prices rose for the 17th straight month, according to September data released this week by the Fredericksburg Area Association of Realtors (FAAR).
The median sales price for the 438 homes that sold in the region in September was $472,000 — a 9-percent increase from the year prior. The FAAR region includes Caroline, King George, Orange, Stafford and Spotsylvania counties as well as Colonial Beach and Fredericksburg.
Spotsylvania median prices hit $497,000 in September, up 19 percent, which was the highest year-over-year percentage increase in the region. Stafford’s median of $505,000 topped the region, while Colonial Beach had the lowest median at $338,950 followed by Caroline at $360,000.
Homes spent an average of 34 days on the market before getting a ratified contract. There is about a two-month supply of homes on the market based on the number of active listings at the end of September (917) compared with the number of sales (438).
FAAR also released locality-by-locality data for September, links to which can be found below.
Twenty residential properties in the region sold last month for $1 million or more, according to data provided by FAAR. The two highest-priced ones (both $2 million or more) were on Lake Anna, followed closely by a home in downtown Fredericksburg that went for $1.99 million. Most of the remaining properties on the list are in Fawn Lake, on Lake Anna or in downtown Fredericksburg. The full list is here.
There are 62 residential properties listed on the local market for $1 million or more, according to FAAR data. The two highest are properties in Orange County’s Glengary Equestrian Estates, followed by a home in downtown Fredericksburg.
Bill Freehling covers local business for the Fredericksburg Free Press. He can be reached at: [email protected].
