The Fredericksburg Area Association of Realtors® (FAAR) is pleased to release the latest housing market statistics to keep our community informed on local trends in home sales, prices, and inventory.
Gary Gardiner, FAAR President-Elect, provides the following comments on the current market.
“August 2026 showed signs that our local residential real estate market is moving in the direction of a buyers’ market. Sellers are experiencing wide fluctuations in sales pricing within many localities. Expect longer days on the market with multiple price improvements to achieve a ratified sales contract. Buyers achieved more opportunities to negotiate within the contingencies, but mortgage interest rates remain elevated and affordability is still the main challenge for many buyers despite the steady increase in months of inventory.
Sellers still have great opportunities to sell but must remain focused on home pricing strategies to appeal to most buyers entering the market. Buyers have more homes to choose from coupled with improved negotiating ability to save money through seller concessions.
Strategically, sellers must remain patient as we are experiencing much lower buyer demand which has led to a significant decrease in overall scheduled showings. Buyers have more opportunities as it relates to the number of homes available and negotiating power within the contingencies.”
