City of Fredericksburg, VA Market Report – 9/8/09

08 Sep
September 8, 2009

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.

Market data, commentary and statistics provided by Judi Jones, Managing Broker, Avery-Hess, Realtors

Search for Homes in Fredericksburg, and all of the DC Metro: www.averyhess.com

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