The Long & Foster Market Minute

Focus On: Downtown Fredericksburg Housing Market September 2021

Zip Code(s): 22401
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -11%
Vs. Year Ago
Up 21%
Vs. Year Ago
Up 4%
Vs. Year Ago
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 31 sold this month in Downtown Fredericksburg Real Estate versus 40 last month, a decrease of 23%. This month's total units sold was lower than at this time last year, a decrease of 11% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 10 units or 21%. The total number of active inventory this September was 58 compared to 48 in September 2020. This month's total of 58 is lower than the previous month's total supply of available inventory of 62, a decrease of 6%.

Median Sale Price
Last September, the median sale price for Downtown Fredericksburg Homes was $356,900. This September, the median sale price was $370,000, an increase of 4% or $13,100 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
Current Contracts
Sold Vs. List Price
Months of Supply
Down -22%
Vs. Year Ago
Down -26%
Vs. Year Ago
No Change
Vs. Year Ago
Up 36%
Vs. Year Ago

Months of Supply
In September, there was 1.9 months of supply available in Downtown Fredericksburg, compared to 1.4 in September 2020. That is an increase of 36% 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 35 homes newly listed for sale in Downtown Fredericksburg compared to 45 in September 2020, a decrease of 22%. There were 32 current contracts pending sale this September compared to 43 a year ago. The number of current contracts is 26% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Downtown Fredericksburg was 99.0% 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 20, lower than the average last year, which was 53. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Downtown Fredericksburg are defined as properties listed in zip code/s 22401.
*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.