It appears that prices in Caroline County were on the rise this past March! Listings were up, closed sales were up and days on market decreased! What wonderful news considering what all of us are used to hearing in today's media! Here are all of the most recent statistics for Caroline County:
March 2009 March 2010 Change
New listings 68 80 +17.6%
Closed Sales 21 25 +19.0%
Pending Sales 20 25 +25.0%
Median Sales Price $141,500 $145,000 +2.5%
% of Orginial Sales Price 84.4% 92.29% +10.0%
Ave Days on Market 125 116 -7.2%
Single Family Detached 245 245 0%
TH-Condo Inventory 22 22 0%
March was a fantastic month sales wise! The snow was gone, spring had sprung and the tax credit was still available! The momentum kept going into April and so far in May, has not stopped! Everyone is hypothesizing on whether or not the tax credit will come back and what impact it really did have. But here is the thing to remember! Caroline and the surrounding area of Fredericksburg and all of it's neighbors are sitting on top of prime real estate! Our location between Washington D.C. and Richmond is ideal for commuters and families. Our prices are the lowest they have been in years and interest rates are wonderful! It is still a great time to buy and sell and we don't anticpate the lack of the tax credit to be a huge impact on activity in our area. While our crystal ball has been in the shop and we don't know exactly what the future holds, we look forward to a wonderful season and hope that the worst is behind us!
Wednesday, May 5, 2010
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