Ladysmith & Fredericksburg Home Prices

Dec 11

Written By Alex Rossie

Your Ladysmith Real Estate Market Update:

For our region - Median Home Price in November was $465,000.

Up 6% since 2023!

FXBG City -11% At 440K
Spotsy +6% At 445K
Caroline +11% At 391K
King George +6% At 500K
Stafford +7% At 535K

Prices remain high. The trajectory of the market looks to be higher given the expected outlook.

Market Insight:

"A near record 84% of Americans believe it is a bad time to buy a home, according to Reventure.
Over the last 4 years, this share has increased by a whopping 50 percentage points.
By comparison, at the peak of the 2006 housing bubble, ~40% of Americans thought it was a bad time to buy a home.
Even in the 1980s when mortgage rates were as high as 18%, this metric was 5 percentage points lower, at 79%.
Homebuyer sentiment has never been worse." Source Kobeissi

Yet....

In our local context, demand is high and growth has no expectation to slow down.

It would only be healthy for a small correction, but it seems unlikely at this time.

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Questions about buying or selling?

I'm here to help.

Let's connect.

Alex S. Rossie

Your Ladysmith and Caroline County Realtor

Serving the entire Fredericksburg Region

Licensed in Virginia with Ascencancy Realty

540-318-3775 alexrossierealtor.com