Home Sale Numbers Jump In Fredericksburg

FREDERICKSBURG, VA — The City of Fredericksburg saw a 58-percent increase in the number of houses sold in August compared to the same month in 2019, according to the Long & Foster Real Estate Market Minute Report. Spotsylvania County saw a 21-percent increase in the number of houses sold in August, while Stafford saw an 11-percent increase.

The median sale prices for homes sold in Spotsylvania and Stafford counties went up in August compared to August 2019, according to the report. Fredericksburg reported no change in the median price of homes sold in August.

“This fall market is going to be different from what we’ve seen in the past,” said Larry “Boomer” Foster, president of Long & Foster Real Estate.

Since this year has experienced many unprecedented events, Foster believes the fall market will not have its typical slowdown. Mortgage rates and interest rates continue to be historically low and with demand for homes continuing to be high, the market is anticipated to continue to perform well, he said.

When taking into account the current pandemic, the current levels of consumer sentiment are still higher than expected at around 75 points. During the recession in 2008, consumer sentiment was 20 points lower.