September Housing Stats

Housing Market Conditions as taken from the Fredericksburg Area Association of Realtors (FAAR) report for Q3:

• There were 2,071 home sales in the FAAR region during the third quarter of 2022. This is 770 fewer sales than this time last year, which is a 27% drop. The market has been slowing down in the FAAR area for four straight quarters.

• Home prices continue to climb in the region. The third quarter median sales price in the FAAR market was $415,000, rising 10% from a year ago, which is a surge of $38,000.

• Inventory continues to build up in the FAAR footprint. There were 1,180 active listings on the market at the end of the third quarter, 167 more listings than a year ago, a 16% increase.

Read the whole report here.

Still wondering if now is a good time to sell real estate?

(The answer is yes)