The following figures represent the market in the City of Fredericksburg, Virginia.
- New Listings – 41
- Closed Sales – 25
- Pending Sales – 24
- Median Price – $300,000
- Average DOM – 60
Historic City of Fredericksburg, sandwiched between Stafford and Spotsylvania Counties, is showing an increase in listings thus far in 2009. We have seen a 20.6% increase in July 2009 over July 2008, and an overall growth of 1.1% year-to-date. The July median price of $300,000 in Fredericksburg is lower than average for the larger market area and reflects a 9.6% drop from one year ago.
The average days on market dropped from 170 a year ago to just 60 in July 2009, while inventory in single-family properties has remained fairly even with only a 2.3% decline. However, there has been a 32% drop in townhome and condo properties, which suggests that the market is more active for these generally more affordable types of housing.