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May real estate statistics reported for Culpeper and surrounding area | Business

May real estate statistics reported for Culpeper and surrounding area | Business #real #estate #statistics #reported #Culpeper #surrounding #area #Business Welcome to Lopoid

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Real estate sales in Central Virginia are decreasing in the Culpeper region, according to a report of May 2022 statistics by the Greater Piedmont Realtors Association this week.

Graphics showing the area’s sales activity, median sales price, pending sales, active listings, months of inventory, average days on the market and new listings compared to a year ago may be found with this article.

“Our real estate market is continuing to feel a shift from the rapid pace of last year,” said Terrie Owens, president of Greater Piedmont Realtors in a statement. “We had 219 sales across our Greater Piedmont footprint in May, and that’s 31 fewer than May of 2021, representing a 12.4% decline in sales activity.

“Pending sales are also down for our region as compared to last year by 20%,” she continued. “The median sales price for our footprint was $500,000 in May, an increase of 9.3% from a year ago. Interest rates have an impact on buyer behaviors and I believe we will see the return of a more traditional seasonal market.”

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Greater Piedmont Realtors is a trade association representing about 700 real estate agents in Fauquier, Culpeper, Rappahannock, and Madison counties.

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