Is Fredericksburg, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Fredericksburg has remained a Seller's Market.
Housing Prices in Fredericksburg, VA
How much do homes in Fredericksburg, VA cost?
Median Sold Price
$437,325
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Fredericksburg was $437,325 in March 2024, up 5.4% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $220K | $281.5K | +28.0% |
2 Bedrooms | $304K | $340K | +11.8% |
3 Bedrooms | $365K | $385.2K | +5.5% |
4 Bedrooms | $490K | $493.7K | +0.8% |
5+ Bedrooms | $555.7K | $584.3K | +5.1% |
Summary: Fredericksburg housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28%, 2 bedroom homes increased by 11.8%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 5.1%.
Median Sold Price Compared To Nearby Cities
Courtland | $375K | $405K | +8.0% |
Battlefield | $390K | $415.9K | +6.6% |
Lee Hill | $422.5K | $449.9K | +6.5% |
Fredericksburg | $414.9K | $437.3K | +5.4% |
Fredericksburg | $429.9K | $438.2K | +1.9% |
Housing Supply in Fredericksburg, VA
How many homes are available in Fredericksburg, VA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1,001 | 1,057 | +5.6% |
Summary: The Fredericksburg real estate market had 1,057 homes for sale in March 2024, a 5.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 14 | 14 | 0.0% |
2 Bedrooms | 80 | 76 | -5.0% |
3 Bedrooms | 303 | 335 | +10.6% |
4 Bedrooms | 397 | 413 | +4.0% |
5+ Bedrooms | 207 | 219 | +5.8% |
Summary: The Fredericksburg housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 5%, 3 bedroom homes increased by 10.6%, 4 bedroom homes increased by 4%, and 5+ bedroom homes increased by 5.8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
163 | 195 | +19.6% |
Asking Price vs. Sold Price
63 Homes Were Sold
Under Asking
61 Homes Were Sold
At Asking
71 Homes Were Sold
Over Asking
Summary: A total of 195 homes were sold or pending in Fredericksburg in March 2024, up by 19.6% month-over-month. Of the 195 sold homes, 32% were sold under asking, 31% were sold at asking, and 36% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
30 Days | 32 Days | +7.9% |
Summary: Homes in Fredericksburg had an average of 32 days on market in Mar 2024, up by 7.9% compared to last year.
Breakdown of Home Sale Times
149 Homes Were Sold
Under 30 Days
25 Homes Were Sold
In 30 - 90 Days
21 Homes Were Sold
Over 90 Days
Summary: During March 2024, 195 homes were sold in Fredericksburg; 76% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.