Okay, I haven’t done this in a while, or ever on my blog til now, but I’m going to break down market statistics for October 2009. This is based on data from Trulia.
First off, the price of the average home in the Fredericksburg area is $202,500. That should allow some first time home buyers to get into the market.
Also, there are 1065 homes for sale right now, 334 of which are foreclosures. That means there are still deals in our market.
Finally, the average price per square foot is $126, which is down 10% from last year at this time. You can’t build a home for anywhere near that price. It is a good time to buy a previously owned property.
