Fredericksburg Realty Inc.

JUNE 2010 IN REVIEW

Jul 04

adminCaroline, Fredericksburg, General, King George, Spotsylvania, Stafford No Comments

Has the worm turned?

In the month of June 2010 there were 458 homes sold in Fredericksburg Virginia, Stafford County Virginia, Spotsylvania County Virginia, King George County Virginia, and Caroline County Virginia.

Of those 458 104 were foreclosures and 76 were short sales.

Foreclosures and short sales accounted for 39.3% of the total sales.

One could interpret this to mean that the foreclosure and short sale market is declining and the “normal” sales are increasing and, therefore, the market is getting healthy again.

Hopefully, this is the case since I have many former clients who would like to sell their current home and move on to another.  Personally, I think it may be a bit soon to conclude that the market has improved; this is one month of decrease in the number of foreclosures and short sales sold in our area.  Improvement yes, a positive indicator for the months ahead?  Not yet.

We will continue to monitor this in the months to come; keep returning to see the reports.