The Long & Foster Market Minute

Focus On: Fredericksburg City Housing Market October 2019

Units Sold
25
Active Inventory
95
Median Sale Price
$320,500
Days On Market
34
Up
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -13%
Vs. Year Ago
Down -29%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in October, with 25 sold this month in Fredericksburg City Real Estate. This month's total units sold was higher than at this time last year, an increase from October 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 5 units or 6%. The total number of active inventory this October was 95 compared to 90 in October 2018. This month's total of 95 is lower than the previous month's total supply of available inventory of 96, a decrease of 1%.

Median Sale Price
Last October, the median sale price for Fredericksburg City Homes was $367,500. This October, the median sale price was $320,500, a decrease of 13% or $47,000 compared to last year. The current median sold price is 1% lower than in September.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
42
Current Contracts
25
Sold Vs. List Price
98.0%
Months of Supply
3.8
Up 50%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
Down -33%
Vs. Year Ago

Months of Supply
In October, there was 3.8 months of supply available in Fredericksburg City, compared to 5.6 in October 2018. That is a decrease of 32% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 42 homes newly listed for sale in Fredericksburg City compared to 28 in October 2018, an increase of 50%. There were 25 current contracts pending sale this October compared to 24 a year ago. The number of current contracts is 4% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Fredericksburg City was 98.0% of the average list price, which is 1.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 34, lower than the average last year, which was 48, a decrease of 29%.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.