The Long & Foster Market Minute

Focus On: Fredericksburg City Housing Market October 2021

Units Sold
32
Active Inventory
57
Median Sale Price
$412,500
Days On Market
25
Down -9%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -29%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 32 sold this month in Fredericksburg City Real Estate versus 33 last month, a decrease of 3%. This month's total units sold was lower than at this time last year, a decrease of 9% versus October 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 1 units or 2%. The total number of active inventory this October was 57 compared to 56 in October 2020. This month's total of 57 is lower than the previous month's total supply of available inventory of 62, a decrease of 8%.

Median Sale Price
Last October, the median sale price for Fredericksburg City Homes was $370,000. This October, the median sale price was $412,500, an increase of 11% or $42,500 compared to last year. The current median sold price is 11% higher 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
41
Current Contracts
31
Sold Vs. List Price
99.4%
Months of Supply
1.8
Down -25%
Vs. Year Ago
Down -22%
Vs. Year Ago
Up 1.8%
Vs. Year Ago
Up 11%
Vs. Year Ago

Months of Supply
In October, there was 1.8 months of supply available in Fredericksburg City, compared to 1.6 in October 2020. That is an increase of 11% 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 41 homes newly listed for sale in Fredericksburg City compared to 55 in October 2020, a decrease of 25%. There were 31 current contracts pending sale this October compared to 40 a year ago. The number of current contracts is 23% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Fredericksburg City was 99.4% of the average list price, which is 1.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 35, 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.