Is Fredericksburg, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Fredericksburg is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Fredericksburg has remained a Seller's Market.

Key Takeaway

Fredericksburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Fredericksburg, VA

How much do homes in Fredericksburg, VA cost?

Median Sold Price

$442,723

$200/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$11,718(+2.7%)

Key Takeaway

Homes in Fredericksburg have sold for 2.7% more than they did a year ago.

Summary: The median home sold price in Fredericksburg was $442,723 in May 2024, up 2.7% from last year, and the median price per square foot was $200.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $289.5K$255K
-11.9%
2 $315K$345K
+9.5%
3 $374.9K$391.9K
+4.6%
4 $488.6K$500K
+2.3%
5+ $569K$589.8K
+3.7%

Summary: Fredericksburg housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.9%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 3.7%.

Median Sold Price Compared To Nearby Cities

Courtland
+9.1%
Battlefield
+6.3%
Fredericksburg
+3.0%
Fredericksburg
+2.7%
Falmouth
+1.7%

Housing Supply in Fredericksburg, VA

How many homes are available in Fredericksburg, VA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
810838+3.5%

Summary: The Fredericksburg real estate market had 838 homes for sale in May 2024, a 3.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 32
-33.3%
2 7868
-12.8%
3 294312
+6.1%
4 282293
+3.9%
5+ 153163
+6.5%

Summary: The Fredericksburg housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 12.8%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 6.5%.

Number of Homes Sold

Apr 2024May 2024CHANGE
258205-20.5%

Asking Price vs. Sold Price

47 Homes Were Sold
Under Asking

50 Homes Were Sold
At Asking

108 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Fredericksburg, you could pay more than the asking price. 52.7% of homes here sold above asking price last month.

Summary: A total of 205 homes were sold or pending in Fredericksburg in May 2024, down by 20.5% month-over-month. Of the 205 sold homes, 23% were sold under asking, 24% were sold at asking, and 53% were sold over asking.

Days on Market for Fredericksburg, VA

How long does it take to sell a home in Fredericksburg, VA?

Average Sale Time

May 2023May 2024CHANGE
16 Days21 Days+28.9%

Summary: Homes in Fredericksburg had an average of 21 days on market in May 2024, up by 28.9% compared to last year.

Breakdown of Home Sale Times

168 Homes Were Sold
Under 30 Days

32 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Fredericksburg are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 205 homes were sold in Fredericksburg; 82% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 13 Days Ago

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