Fredericksburg first quarter sales volume highest in 9 years

Fredericksburg first quarter sales volume highest in 9 years

The Fredericksburg real estate market saw a nearly 5 percent increase in new contracts during the first quarter of 2016, compared to the first quarter of 2015, according to the Fredericksburg Area Association of Realtors.

That increase led to the highest first-quarter sales volume in nine years.

At $266,250,862, the total sold dollar volume was the highest first-quarter level since 2007, and represented a 1.5 percent increase over the first quarter of 2015.

The median sale price was $260,000 in the first quarter of this year, a 4 percent increase over the same quarter in 2015. There were 963 units sold in the first quarter of 2016, a slight increase over the first quarter of 2015.

“The first quarter was extremely busy,” said 2016 FAAR president Christine Singhass. “Houses were not staying on the market very long.”

Originally Posted: Wednesday, April 27, 2016 12:00 am