Fredericksburg Market Watch

Home
Market Trends Monthly
Local Comparison
Fredericksburg and N. VA
Real Estate Market Terms

Market Search
Daily Listings

About Us
Contact Information
Privacy Policy

Realtor Equal housing Opportunity

Northern Virginia and Greater Fredericksburg real Estate

Homes in Fredericksburg Virginia (city of Fredericksburg, and Stafford, Spotsylvania, King George and Caroline counties) are price significantly less than those in Northern Virginia (Fairfax County, Fairfax City, Arlington County, Alexandria City, and Falls Church City). Both areas have experienced similar year-to-year price increases while homes in Fredericksburg area have stayed on the market longer. The data set shows a strong correlation between decreasing days on the market and increasing median price. If one assumes that the median homes in both regions are "roughly equivalent," the difference in median home prices can be viewed as a transportation differential and addresses the question: How much is it worth to live in and commute from homes in Fredericksburg to Northern Virginia and D.C. rather than live in Northern Virginia?

The median sold price is the price at the midpoint of all homes sold. The change is the percentage yearly change in the median sold price. DOM is the yearly average Days-on-Market. The price difference is the difference between the yearly median sold prices of Fredericksburg homes and those in Northern Virginia.

Northern Virginia Greater Fredericksburg Area

Year Sold Price Change DOM Sold Price Change DOM Price Difference

1998 $195,000 2.6% 137 $129,900 1.7% 178 $65,100

1999 $197,000 1.0% 66 $134,900 3.9% 112 $62,100

2000 $208,000 5.6% 32 $139,500 3.7% 90 $68,500

2001 $237,000 13.9% 23 $151,000 8.2% 60 $86,000

2002 $276,000 16.5% 24 $174,900 15.8% 44 $101,100

2003 $318,000 15.2% 26 $205,450 17.5% 44 $112,550

2004 $385,000 21.1% 19 $250,000 21.7% 34 $135,000

2005 $475,000 23.4% 22 $325,000 30.0% 31 $150,000

2006 $470,000 -1.05% 62 $332,250 2.23% 76 $137,750

2007 $460,000 -2.13% 83 $309,000 -7.00% 124 $151,000

2008 $385,000 -16.3% 93 $251,500 -18.6% 129 $133,500

2009 $370,000 -3.9% 70 $202,000 -19.7% 99 $168,000

Source: Metropolitan Regional Information System (MRIS).

The information provided here is believed to be accurate but not guaranteed. Because the decision to purchase or sell real estate is one of life's most important financial decisions, multiple sources of information should be considered in making an informed decision. Consult your accountant, financial planner, attorney and Fredericksburg real estate agent.

We would appreciate any feedback or suggestions on the statistics provided here. And, please contact us if you would like us to provide you with specialize analysis on the Fredericksburg real estate market.

	Northern Virginia			Greater Fredericksburg Area
Year	Sold Price	Change	DOM	Sold Price	Change	DOM	Price Difference
1998	$195,000	2.6%	137	$129,900	1.7%	178	$65,100
1999	$197,000	1.0%	66	$134,900	3.9%	112	$62,100
2000	$208,000	5.6%	32	$139,500	3.7%	90	$68,500
2001	$237,000	13.9%	23	$151,000	8.2%	60	$86,000
2002	$276,000	16.5%	24	$174,900	15.8%	44	$101,100
2003	$318,000	15.2%	26	$205,450	17.5%	44	$112,550
2004	$385,000	21.1%	19	$250,000	21.7%	34	$135,000
2005	$475,000	23.4%	22	$325,000	30.0%	31	$150,000
2006	$470,000	-1.05%	62	$332,250	2.23%	76	$137,750
2007	$460,000	-2.13%	83	$309,000	-7.00%	124	$151,000
2008	$385,000	-16.3%	93	$251,500	-18.6%	129	$133,500
2009	$370,000	-3.9%	70	$202,000	-19.7%	99	$168,000
Source: Metropolitan Regional Information System (MRIS).