The Long & Foster Market Minute

Focus On: Chancellor and Southern Fredericksburg Housing Market September 2021

Zip Code(s): 22407 and 22408
Units Sold
189
Active Inventory
154
Median Sale Price
$350,000
Days On Market
12
Up 2%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -8%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 189 sold this month in Chancellor and Southern Fredericksburg Real Estate versus 196 last month, a decrease of 4%. This month's total units sold was higher than at this time last year, an increase of 2% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 9 units or 6%. The total number of active inventory this September was 154 compared to 145 in September 2020. This month's total of 154 is lower than the previous month's total supply of available inventory of 190, a decrease of 19%.

Median Sale Price
Last September, the median sale price for Chancellor and Southern Fredericksburg Homes was $315,000. This September, the median sale price was $350,000, an increase of 11% or $35,000 compared to last year. The current median sold price is 3% lower than in August.

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


New Listings
205
Current Contracts
197
Sold Vs. List Price
100.8%
Months of Supply
0.8
No Change
Vs. Year Ago
Up 4%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In September, there was 0.8 months of supply available in Chancellor and Southern Fredericksburg. The amount of supply is similar compared to 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 205 homes newly listed for sale in Chancellor and Southern Fredericksburg, which is similar to the amount in September 2020. There were 197 current contracts pending sale this September compared to 190 a year ago. The number of current contracts is 4% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Chancellor and Southern Fredericksburg was 100.8% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 12, lower than the average last year, which was 13, a decrease of 8%.

The Long & Foster Market Minute Chancellor and Southern Fredericksburg are defined as properties listed in zip code/s 22407 and 22408.
*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.