Here’s what the market is like in areas like Seven Lakes and Hunters Pond.
This week, I have a few updates on our three-acre estate properties in Stafford County and what’s going on in these communities. These are well-known neighborhoods like Seven Lakes, Hunters Pond, The Glens, Christy Estates, and Magnolia Woods, just to name a few.
Besides the amazing acreage and privacy you’ll get in these neighborhoods, you’ll also find things like walking and hiking trails, room for horses, fishing ponds, gyms, coffee shops, restaurants, and parks. There are lots of things for the kids to do as well. Downtown Fredericksburg is just 15 minutes away from the area.
What does the real estate market look like in these communities? Inventory is turning over quickly just like it is everywhere else, but the average days on market for homes here is just seven. The median days on market is five, and there are just three homes on the market in this area at the moment. These don’t include the off-market properties that we have access to as well.
“There’s a shortage of over five million housing units on the market.”
The market in these communities is very active. 19 homes have been sold in the last six months, and the average sale price is 101% of the average list price. Our team’s average is 103.5%.
Buyers are looking for more space and privacy, and they’re flocking to areas like this. We don’t have a crystal ball, but we do know that low interest rates will remain low through the end of the year. Our preferred lender predicts just a 0.5% rise in rates by the end of the year.
Prices in Stafford County as a whole increased by 17% in May. This increase is here to stay according to our preferred lender. There’s a shortage of over five million housing units, and the D.C. area is a coveted place to live and work.
There aren’t enough houses to meet buyer demand, so now is the perfect time to sell if you’ve been entertaining the idea. You can sell for top dollar and buy your next home while rates are still low.
We have an entire program to help buyers and sellers purchase and sell off-market properties. Reach out to us if you want to learn more. Almost 20% of our sales this year have been off-market.
If you have any questions about buying or selling, the market, or real estate in general, don’t hesitate to reach out via phone or email. We look forward to hearing from you soon.