MARKET REPORT

FREDERICKSBURG

2013 is the kind of year in real estate that we all

wish could be repeated over-and-over. Low interest
rates, strong consumer confidence, a fairly balanced
inventory, and relatively positive economic indicators
all contributed towards an extremely strong year for
the Fredericksburg real estate market.
Its now safe to say that the local and regional real
estate market is now in full recovery mode. 2013
was arguably the healthiest real estate market that
weve seen in 8 years. Total sales, median prices, and
days on market for sold properties were all positive.
While inventory levels rose slightly, the increase in
inventory was not enough to slow down consumer
confidence.
As an area that encountered high short sale and
foreclosure inventory in the past, 2013 saw a drastic
decrease in the number of distressed properties
for sale. We expect to see a further reduction in
short sales and foreclosures in 2014 as the market
continues to improve.
With the continuation of low interest rates and riding
the effects of a strong 2013, consumer confidence
and sales should continue to grow steadily in 2014. A
rising interest rate environment and some changes to
mortgage lending rules may serve as speed bumps
towards the continued recovery of our local market.
That being said, we believe the regional real estate
market seems to have enough strength to handle
those potential concerns in 2014.
As always, we will continue to work hard to provide
our clients with the highest level of service and most
relevant information to help you make informed real
estate decisions.
Thanks again for your trust in Nest.

Nest Realty:
2013 in Review
ANNUAL TOTAL SALES VOLUME
$315,000,000

$275,000,000
$250,000,000
$225,000,000
$200,000,000
$175,000,000
$150,000,000

$157,000,000

$125,000,000
$100,000,000
$75,000,000

$80,779,303

$50,000,000
$25,000,000

$28,085,866

2009

TOTAL
CLOSINGS:
913

$48,367,528

2010

2011

2012

2013

TOTAL SALES
$315,000,000

Named #882 in the annual

Nests agents and staff were a pleasure to work with and they
delivered results. They got our house under contract within two
months and sold shortly thereafter. They were great!

- The King Fa mily

fastest-growing private American

companies list

AREA ANALYSIS FOR FREDERICKSBURG AREA MSA

SALES BY TYPE 2013

2013

2012

2011

4,587

9.79%

4,178

-0.14%

4,184

Median Price $

245,000

11.36%

220,000

10.00%

200,000

Days on Market

65

-9.72%

72

-16.28%

86

Avg. List Price $

268,596

10.14%

243,860

6.47%

229,045

Avg. Sale Price $

263,750

10.56%

238,556

7.05%

222,844

4.10

0.74%

4.07

-16.60%

4.88

6.90%

932,379,159

Total Sales

Months of Inventory

Total Volume $ 1,209,820,573 21.38% 996,686,006

Single Family 3995

Condo 64
Attached 528

SALES BY PRICE POINT $0-99,999 $100,000-199,999 $200,000-299,999 $300,000-499,999 $500,000+

2013

29%

5%

2012

35%

9%

2011
0%

21%

32%

39%

11%

17%

30%

25%

5%

28%

33%

50%

75%

3%

3%

100%

FREDERICKSBURG AREA MSA

TOTAL SALES
4,600
4,500

4,587
4,514

MONTHS OF INVENTORY

MEDIAN PRICE

INVENTORY LEVELS

$250,000

2,000

5.37

$240,000

5.43
4.88

4,400

4,300

$220,000

$210,000

$200,000

$190,000

4,200

4,207

4,1 00

4,184

4,178

4,000
2009

TREND

2010

2011

2012

2013

4.07

2009

TREND

2010

2011

2012

4.10

$230,000

2013

FLAT

*The Fredericksburg Area MSA consists of the City of Fredericksburg, Stafford, Spotsylvania, Caroline, and King George counties. Data as of 1/14/14.

245,000

1,948

1,600

1,417

1,568

1,200

210,000
202,000

1,700

1,400

220,000

1,000

200,000

800
2009

TREND

2,021

1,800

2010

2011

2012

2013

2009

TREND

2010

2011

2012

2013

AREA ANALYSIS FOR CITY OF FREDERICKSBURG

SALES BY TYPE 2013

2013

2012

2011

235

2.17%

230

0.00%

230

Median Price $

259,900

2.93%

252,500

14.77%

220,000

Days on Market

86

8.86%

79

8.22%

73

Avg. List Price $

290,185

5.34%

275,479

10.07%

250,287

Avg. Sale Price $

281,360

5.57%

266,525

11.65%

238,712

5.77

5.29%

5.48

-7.90%

5.95

66,119,552

7.86%

61,300,731

11.65%

54,903,754

Total Sales

Months of Inventory
Total Volume $

Single Family 183

Condo 9
Attached 43

SALES BY PRICE POINT $0-99,999 $100,000-199,999 $200,000-299,999 $300,000-499,999 $500,000+

2013

17%

11%

2012

17%

13%

2011

20%

0%

5%

22%

32%

25%

4%

30%

36%

21%

8%

34%

29%

50%

75%

100%

CITY OF FREDERICKSBURG
TOTAL SALES
250
225

230

231

230

235

200

MONTHS OF INVENTORY

MEDIAN PRICE

$260,000

8
7

198

175

$210,000

100

$200,000

TREND

2012

2013

FLAT

2009

TREND

2010

2011

5.48

2012

5.77

$220,000

2013

239,000
225,000

140
135

120
110

220,000

114

100

113
105

90
2009

TREND

140
130

$230,000
5.95

1 25
2011

252,500

$240,000

7.27

2010

150
259,900

$250,000

8.18

150

2009

INVENTORY LEVELS

2010

2011

2012

2013

2009

TREND

2010

2011

2012

2013

AREA ANALYSIS FOR STAFFORD

SALES BY TYPE 2013

2013

2012

2011

1,927

16.86%

1,649

-1.26%

1,670

Median Price $

284,363

9.79%

259,000

12.61%

230,000

Days on Market

58

-1.69%

59

-20.27%

74

Avg. List Price $

300,025

9.07%

275,064

7.81%

255,131

Avg. Sale Price $

295,716

9.45%

270,174

8.26%

249,554

3.65

3.69%

3.52

-10.43%

3.93

445,516,649

6.90%

416,755,488

Total Sales

Months of Inventory

Total Volume $ 569,843,950 27.91%

Single Family 1,573

Condo 55
Attached 299

SALES BY PRICE POINT $0-99,999 $100,000-199,999 $200,000-299,999 $300,000-499,999 $500,000+

2013

2%

2012

4%

2011

7%

20%

25%

32%

24%

33%

25%

4%

30%

38%

0%

6%

39%

35%

50%

4%

75%

100%

STAFFORD
TOTAL SALES

MONTHS OF INVENTORY

MEDIAN PRICE

2,000

$280,000

$270,000

650

$260,000

600

1,900
1,800

1,927

1,837

1,700

3
1,694

1,600

1,670

4.19

4.41
3.93

3.52

3.65

$240,000

1,500

$230,000

1,400

$220,000

2009

TREND

2010

2011

2012

2013

2009

TREND

2010

2011

2012

284,363

259,000

$250,000

1,649

INVENTORY LEVELS

2013

2009

TREND

623
586
547

500

2011

483

450

230,000

2010

641

550

243,900
229,000

700

400
2012

2013

2009

TREND

2010

2011

2012

2013

AREA ANALYSIS FOR SPOTSYLVANIA

SALES BY TYPE 2013

2013

2012

2011

1,744

3.13%

1,691

-0.94%

1,707

Median Price $

224,000

17.89%

190,000

2.70%

185,000

Days on Market

61

-12.86%

70

-20.45%

88

Avg. List Price $

254,241

12.63%

225,736

2.97%

219,224

Avg. Sale Price $

249,590

13.15%

220,587

3.70%

212,717

3.84

2.95%

3.73

-19.44%

4.63

373,012,127

2.73%

363,108,202

Total Sales

Months of Inventory
Total Volume $

435,284,143 16.69%

Single Family 1,590

Condo 0
Attached 154

SALES BY PRICE POINT $0-99,999 $100,000-199,999 $200,000-299,999 $300,000-499,999 $500,000+

2013

35%

5%

2012

9%

2011

9%

44%

13%

28%

25%

4%

14%

29%

46%

0%

5%

20%

35%

50%

3%

75%

100%

SPOTSYLVANIA
TOTAL SALES

MONTHS OF INVENTORY

MEDIAN PRICE

1,900

$230,000

1,800
1,700

1,812
1,707

1,707

1,600

1,744
1,691

5.00

INVENTORY LEVELS
800
224,000

$220,000

5.11

$200,000

4.63

3.73

3.84

$190,000

750

190,000

190,000

$180,000

1,400

$170,000

550

1,300

$160,000

500

TREND

2010

2011

2012

2013

2009

TREND

2010

2011

2012

2013

TREND

2010

2011

2012

659

600

185,000

2009

726

650

190,000

1,500

2009

756

700

2013

558
526

2009

TREND

2010

2011

2012

2013

CAROLINE
Caroline
Total Sales
Median Price $
Days on Market

KING GEORGE

2013

2012

412

14.13%

361

148,000
88
163,758

0.99%

162,156

Avg. Sale Price $

157,860

1.23%

155,936

5.02

-12.39%

5.73

65,038,265

15.54%

56,292,965

Total Volume $

MEDIAN PRICE

300
275
2009

2010

2011

2012

2013

145,500

148,000

145,000

$120,000

120,000

$100,000

7.92
7.36

5.73

5.02

4
2009

2010

2011

2012

2013

Total Sales

269

8.91%

247

255
245

Median Price $

270,000

12.55%

239,900

Days on Market

92

-1.08%

93

Avg. List Price $

278,232

11.47%

249,597

Avg. Sale Price $

273,363

11.49%

245,196

6.14

-2.85%

6.32

73,534,663

21.42%

60,563,535

Months of Inventory

235

TREND

2010

2011

2012

270,000

213

2009

2010

2011

2012

2013

TREND

$225,000

2011

8.86

225,000

2010

8.75

239,900

235,000

11.23

10

TREND

237

200

$245,000

2009

247

2 15

2013

257

225

11

235,000

269

MONTHS OF INVENTORY

$215,000
2009

265

$255,000

$235,000

$80,000

2012

$265,000

9.42

$90,000

MEDIAN PRICE

137,500

2013

$275,000

TOTAL SALES

King George

Total Volume $

TREND

10

$130,000

TREND

351

361

MONTHS OF INVENTORY

$150,000
$140,000

364

325

Avg. List Price $

Months of Inventory

375

412
397

350

120

-26.67%

425
400

137,500

7.64%

TOTAL SALES

6.32

6.14

5
2012

2013

2009

TREND

2010

2011

2012

2013

Nest Realty went above and beyond to accommodate our unique

needs. With their guidance and expertise we were able to purchase
our dream home.

- The Dav Fa mily

LIVE WHERE YOU LOVE

PRINCE WILLIAM
Prince
Total Sales
Median Price $
Days on Market

TOTAL SALES

2013

2012

6,505

6.80%

6,091

8,000

309,900

12.70%

274,990

7,000

39

-20.41%

49

339,656

9.92%

Avg. Sale Price $

336,449

10.19%

305,330

Total Volume $ 2,188,602,677 17.68%

6,721

3,000
2010

2011

2012

$325,000

3.0

$275,000
$250,000
249,000

$225,000
$200,000

2.54

207,000

2.08

2.14
1.94

2010

2011

2012

2013

Total Sales

460

10.84%

415

450

181,800

6.94%

170,000

400

Days on Market

117

124

-5.65%

350

218,243

1.25%

215,551

Avg. Sale Price $

209,292

1.95%

205,297

6.07

-17.97%

7.40

96,274,116

13.00%

85,198,155

Months of Inventory

$180,000

10

$165,000

181,800

179,000

TREND

2011

2012

2013

170,000

2009

2010

2011

2012

2013

12.14
10.51
9.79
7.40

170,000

6.07

4
2
2009

TREND

370

$160,000
2010

369

MONTHS OF INVENTORY
12

0.5

366

TREND

$185,000

$175,000

415

300

14

178,250

460

325

$190,000

$170,000

2009

475

375

Avg. List Price $

1.0

0
2009

2012

MEDIAN PRICE

2.89

1.5

250,000

$175,000

TREND

2.5
2.0

274,990

Total Volume $

MONTHS OF INVENTORY
309,900

2013

TREND

MEDIAN PRICE
$300,000

6,505

5,869

2009

1,859,765,951

6,091

4,000

2.14

-9.35%

2013

Median Price $

5,000

309,001

1.94

8,743

TOTAL SALES

Orange

9,000

6,000

Avg. List Price $

Months of Inventory

ORANGE

2010

2011

2012

2013

2009

TREND

2010

2011

2012

2013

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www.NestRealty.com