Home Prices in Fawn Lake | Fredericksburg, VA 22551 | By Crews Real Estate at EXP Realty, LLC
Real estate market data for Fredericksburg, VA provided by Tim Crews of Crews Real Estate of EXP Realty Fredericksburg | 540.516.3559 |
The Fawn Lake Community has seen incredible growth in their median price for homes sold. Prices have soared from a median sales price of $860,000 up to $1,027,500. This means that if you live in Fawn Lake, your net worth has increased drastically. It also means, if you are thinking of buying a home in Fawn Lake, than you might be buying at a premium. However, no need to worry, with interest rates rising a bit, we have already seen a bit of a slow down in the speed of homes selling and average days on market.
This graph explains it all.
There is a possibility to own a home in this real estate market right now. If you’re looking to view and purchase homes in Fredericksburg Virginia, you can also view hundreds of homes for sale here.
There are also a few lots left in Fawn Lake that would enable you to purchase land and build a custom home with your own custom builder.
Interested in Searching all Foreclosures in Fawn Lake & surrounding areas?
Fawn Lake Home Values
Are you a current Fawn Lake homeowner and curious as to how much your single-family home may appraise and sell for?
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Fawn Lake | Fredericksburg, VA Home Prices
Here’s one of the biggest questions and concerns for Fawn Lake homeowners:
“How will the upcoming Fall and Winter months affect home sales and home values within our community with rising interest rates”?
Good news! We have seen 26 straight months of listing price increases on home prices in Fredericksburg, and don’t expect things to slow down anytime soon. If you are considering buying a home you can still find deals on a house in Fawn Lake. However, having a good real estate agent who understands the market is a must.
Don’t wait on the sidelines for too long, as many of our listings are starting to sell within a few days of hitting the market. And listings are not selling exactly for asking price! To make sure you don’t overpay for your home, you’ll want to have an agent that does a thorough market analysis of the Fredericksburg Virginia home on which you are making an offer.
Current Market Inventory
If you are interested in how much current inventory is on the market in Fawn Lake, you can find that information by clicking on the link. High inventory will suggest that homes are sitting on the market for longer.
Currently in this area of Fredericksburg, homes have a median time of 40 days on the market before they sell. As a result, buyers are in a great position to make an aggressive offer on a home. Conversely, sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers.
Low inventory in Fredericksburg will result in multiple, aggressive offers coming in on homes, similar to what we saw back in 2007. Home prices are not expected to run up quite as fast as they did back then, because banks have stricter lending guidelines and are no longer giving out loans to anyone that applies.
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