Is Fredericksburg, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$444,128
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Fredericksburg have sold for 3% more than they did a year ago.
Summary: The median home sold price in Fredericksburg was $444,128 in June 2024, up 3% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $289.5K | $265K | -8.5% |
| 2 Bedrooms | $325K | $345K | +6.2% |
| 3 Bedrooms | $375.7K | $395.5K | +5.3% |
| 4 Bedrooms | $489.7K | $500K | +2.1% |
| 5+ Bedrooms | $579.3K | $590K | +1.8% |
Summary: Fredericksburg housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.5%, 2 bedroom homes increased by 6.2%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 1.8%.
Median Sold Price Compared To Nearby Cities
| Courtland | $390K | $431.3K | +10.6% |
| Fredericksburg | $431.2K | $444.1K | +3.0% |
| Fredericksburg | $430.3K | $441.8K | +2.7% |
| Falmouth | $435K | $435K | 0.0% |
| Battlefield | $439K | $425K | -3.2% |
Housing Supply in Fredericksburg, VA
How many homes are available in Fredericksburg, VA?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 840 | 871 | +3.7% |
Summary: The Fredericksburg real estate market had 871 homes for sale in June 2024, a 3.7% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 68 | 64 | -5.9% |
| 3 Bedrooms | 315 | 306 | -2.9% |
| 4 Bedrooms | 288 | 324 | +12.5% |
| 5+ Bedrooms | 168 | 177 | +5.4% |
Summary: The Fredericksburg housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 5.9%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 5.4%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 283 | 231 | -18.4% |
Asking Price vs. Sold Price
45 Homes Were Sold
Under Asking
78 Homes Were Sold
At Asking
108 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fredericksburg, you could pay more than the asking price. 46.8% of homes here sold above asking price last month.
Summary: A total of 231 homes were sold or pending in Fredericksburg in June 2024, down by 18.4% month-over-month. Of the 231 sold homes, 19% were sold under asking, 34% were sold at asking, and 47% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 18 Days | 18 Days | -1.1% |
Summary: Homes in Fredericksburg had an average of 18 days on market in Jun 2024, down by 1.1% compared to last year.
Breakdown of Home Sale Times
193 Homes Were Sold
Under 30 Days
28 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Fredericksburg are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 231 homes were sold in Fredericksburg; 84% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user. 
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved