Business Resources
Resources for your real estate business.Local Real Estate Market Sees a Strong Start for the Spring Market
March kicked off the spring market with a strong showing, despite the challenging economic and workforce headwinds facing the region. Median sold price was up nearly 6% year-over-year, coming in at $475,325 in March of 2025 compared to $449,949 last year. Total sold dollar volume was up nearly 9% in March, posting approximately $219.9 million in sales compared to just over $202 million last March. Units sold remained fairly static year-to-year, with 417 homes sold last March compared to 423 this year, a gain of just over 1%.
Days on market, the time it takes from when a listing enters the market until it receives a ratified contract and is removed from active status on the multiple listing service jumped 20%, going from 30 days last March to 36 days this year. Even with that overall increase in average days on market, over 40% of homes sold in 10 days or less.
Active listings jumped again in March, posting a more than 36% gain from last year. The market saw 704 homes for sale at the end of March 2024 compared to 962 homes at the end of this March. New listings also jumped over 34%, with 555 homes coming on the market during the month of March last year compared to 746 new homes this year. Pending sales remained even with just more two homes under contract this March compared to last year.
“March has shown us signs of cautious optimism,” states FAAR Board of Director member Jennifer Caison. “While inventory remains relatively low, we are starting to see an increase in listings, giving buyers a few more options than in previous months. Days on market are stretching slightly longer depending on price point and location, which suggests that homes need to be well-priced and show-ready to sell quickly. Buyers are more discerning now, taking their time and not rushing into offers like they did during the peak frenzy. On the other hand, sellers are having to adjust expectations, understanding that while it’s still a good time to sell, pricing realistically and being open to negotiation is key. It’s a market that rewards preparation and strategy on both sides. Overall, I believe we saw a great spring market in March, definitely an improvement from the prior three months.”
Local Real Estate Prices Continue to Rise Despite Uncertainty
The February real estate market continued the trend of increasing prices paired with varying demand across the local footprint. The regional median price soared nearly 6% in February of 2025, coming in at $460,000 compared to $435,000 last year. While prices remained high in February, total sold dollar volume decreased by about 3%, going from approximately $157 million last February to just over $152 million this year. That decrease was fueled by a nearly 9% reduction in units sold across the region, with 305 homes transacted in February of 2025 compared to 335 last year.
Most jurisdictions also saw a decrease in units sold except for Orange and Stafford counties and the City of Fredericksburg. Every jurisdiction in the FAAR footprint experienced an increase in year-over-year median price with Orange County leading the pack at nearly 25%. Median price in Orange County jumped from $358,725 in February of last year to $447,000 this year.
Days on market, the time it takes from when a listing enters the market until it receives a ratified contract and is removed from active status on the multiple listing service jumped over 20%, going from 36 days last February to 44 days this year. Even with that overall jump in average days on market, nearly a third of homes sold in 10 days or less.
There was good news for those watching inventory levels as active listings jumped nearly 21% going from 661 homes on the market at the end of February 2024 to 795 at the end of this February. New listing data was disappointing with a more than 12% reduction in the number of homes coming on the market and a 10% decrease in new pending sales.
“In February, the housing market was abuzz with uncertainty following significant announcements and changes affecting the federal workforce,” comments FAAR Board Member Tamar Myers-Moffatt. “With folks heading back to the office and remote work winding down, everyone’s wondering about how this will shake up real estate. Many of my clients thinking about selling are holding off because housing options are still pretty limited. In addition, my clients are speculating about how the new administration will impact interest rates. I have also noticed an increase with days on market suggesting buyers are becoming more discerning with their homes of choice and the purchase terms they are willing to accept. This could mean a change in the market dynamics as both buyers and sellers have to navigate a complex economic and political backdrop.”
3 Ways to Wow Buyers
What separates a good real estate agent from a great one? The quality of client service. That’s why it’s so crucial not just to meet your buyer clients’ needs, but to exceed their expectations. Bright MLS makes it easy to deliver top-of-the-line service that will help you forge client connections that last a lifetime.
Three Ways to WOW Buyers
1. Connect over their search in Nestfully. Buyers want to be involved in their home search—but they also want you by their side, guiding them through the journey with your industry expertise. The Nestfully app is the perfect solution. This free, user-friendly mobile app is packed with listings sourced directly from the MLS, giving you and your clients the ultimate digital space to connect, collaborate, and communicate from search to close. Get the app
2. Help them search in minutes, not miles, with INRIX Drive Time. With an increasing number of workers being called back to the office, commute times are once more becoming an important consideration for many homebuyers. With the Drive Time tool, you can factor specific commute parameters into your search to address your buyers’ preferences for their daily drive.
3. Get the lowdown on location with Local Logic in Nestfully. Help your buyers dig deeper into a particular neighborhood from any Nestfully listing. Just look for Local Details to discover key information about the area’s transportation, education, amenities, character, nature, and wellness.
FAAR Sends Letter of Concern on King George Septic Issue
It has recently come to our attention that Stafford County is no longer accepting wastewater from King George County, forcing local citizens to pay higher costs to have their septic systems pumped or inspected. Since there is no wastewater processing capacity for septic system users in King George County, the untreated water must be transported elsewhere for processing. FAAR is concerned about the financial burden this could put on home sellers and owners as the cost for pump outs and inspections increases to cover this additional processing burden.
FAAR President Lauren Tate sent a letter of concern to the King George County Supervisors encouraging them to make planning for needed infrastructure improvements a priority, especially wastewater processing capacity. Click below to read FAAR’s letter to the County.
2025 Local Real Estate Market Starts With Rising Prices Amid Uncertainty
The local real estate market kicked off 2025 with higher prices and total sold volume, but slightly fewer sales and a lot more homes on the market against a backdrop of uncertainty with the potential for major changes in the federal workforce. Total sold dollar volume was up over 9%, coming in at approximately $167.1 million compared to just under $153 million for January of 2024. That increase was fueled by a nearly 7% year-over-year median price increase with the January median price settling at $462,000 compared to $432,000 last year. The pace of sales cooled very slightly with a less than 2% decrease in units sold this past month. The market saw 319 properties transacted compared to 324 properties last January.
Days on market, the time it takes from when a listing enters the market until it receives a ratified contract and is removed from active status on the multiple listing service stayed nearly static from last year, going from 39 days last January to 38 days this year. Nearly a third of homes on the market sold in 10 days or less.
Active listings showed significant improvement from last year with exactly 800 homes on the market at the end of January 2025 compared to 634 last year, a more than 26% increase. New listings and new pending contracts were down in January, with a 9% and 5% drop respectively. January of 2024 saw 467 new listings on the market compared to 427 this year and 383 pending contracts compared to 363 for this year.
“We’ve all seen first-hand over the past couple of years how interest rates have had a significant effect on our real estate market,” comments FAAR Board Member Meghan Kala. “Not only are potential buyers feeling the squeeze on what they can afford, but many sellers are hesitant to sell. I think many consumers have been waiting for significant relief on interest rates but now have realized that’s not happening. I believe that we will see sales start to rise in our area as we enter the typically busy spring market. Home prices are increasing in our region at a steady pace, however, overpriced homes are no longer flying off the market. There has been some much-needed pullback on prices as it’s just not sustainable. Many buyers have been able to negotiate a better deal on their contracts, and sellers are being a lot more deliberate and preparatory in their listing process. Even though the lack of inventory is still very real, which keeps us in this perpetual sellers’ market, there’s a lot more balance right now which I find to be positive as we enter spring.”
3 Reasons You & Your Clients Should Be Using Nestfully
Connect with your clients like never before—and deliver real value to them at the same time—in the MLS-fueled, collaboration-forward real estate app you’ve been waiting for.
You and your clients are in this together. Why not work like a team?
The new Nestfully app makes it easy to do just that, giving you a thoughtfully designed, feature-rich digital space where you can collaborate, communicate, and help your clients navigate their home journey from search to close.
We know you’d never trust your business and reputation to a tool that doesn’t deliver, so we’ve got a shortlist of reasons you can use Nestfully with absolute confidence—and encourage your clients to do the same.
3 Reasons You & Your Clients Should Use Nestfully
✅It makes collaboration simple. Everyone is busy these days. Trying to sync up schedules and work around each party’s availability can be a challenge—and that costs valuable time. With Nestfully, you can easily invite your clients to work with you right inside the app, where you’ll be able to share listings and exchange messages to keep their home search moving forward.
✅It’s packed with info you can trust. Nestfully’s listing data comes directly from the MLS. Your clients might not understand the importance of that—but as an agent, we know you do! It means you can trust that when they’re searching with Nestfully, they’re seeing the most accurate, detailed, up-to-date listings on the market. (We probably don’t have to tell you that’s not always the case on some of those other home search apps.)
✅It’s free for you and free for them—but delivers real value. Nestfully is one example of when the saying “you get what you pay for” isn’t true. You pay nothing, your clients pay nothing, and yet you both get a whole lot in return. For them, it’s the confidence of having you—their chosen expert—right at their fingertips throughout their home journey, standing by with answers, guidance, and expertise when they need it most. For you, it’s the opportunity to nurture your client relationships and turn client interactions into lifelong connections.
Start Using Nestfully Today
Download the app by clicking the link below and create an account to get started. It’s easy to invite your clients to join you there so you can start working together right away. With even more fantastic features already in the works, you’re going to want to jump in early!
Virginia REALTORS® adds Forewarn as Member Benefit
Sign Up for Your Complimentary FOREWARN Account
Virginia REALTORS® is now providing a new complimentary benefit through a partnership with FOREWARN, an application that brings knowledge to the real estate industry through innovative solutions to ensure safer engagements and smarter interactions. You can begin properly and safely planning for showings, with a higher level of intelligence and confidence, by activating your account today.
If you already have an account, there is nothing you need to do. If you have login or billing issues, please contact FOREWARN.
Set Up Your Complimentary FOREWARN Account Today
- Click here and enter your email address when prompted to do so (be sure to use the same email address that this email was sent to as it will serve as your FOREWARN ‘Username’).
- You will receive an activation email from FOREWARN, open it and click the link as instructed. If you do not see the email, be sure to check your junk/spam folder.
- You will be prompted to enter an authentication code that will have just been texted, or optionally read to you via automated call, to your phone number on file. Upon completion you will be prompted to create a password.
- Now you are ready to download the FOREWARN app by clicking on the appropriate link below from your mobile device, or searching for FOREWARN in the app store.
- After activating your account, you can also log into your FOREWARN account from any web browser via the FOREWARN.com homepage (click ‘Sign In’ at top-right) or via this link: https://link.edgepilot.com/s/2249bc61/wjiiYogJoUGsXcRyJjypIA?u=https://app.forewarn.com/
Common Errors:
- If you are not receiving the text/call authentication code, FOREWARN may have the wrong cell phone number on file. Please contact FOREWARN Support at 561.757.4551 to update them with your correct cell phone number.
- If you do not see the email after checking your junk or spam folder, this may be due to the fact that your account could not be set up as FOREWARN does not have your cell phone number. Please contact FOREWARN Support at 561.757.4551 to provide them with your cell phone number.
Note: If you already have a FOREWARN account, there is nothing you need to do! Services will not be interrupted and Virginia REALTORS® now has you covered.
Forms FAQ
What are real estate forms and how do I find them?
You’ll commonly hear the real estate contracts used to buy and sell homes referred to as forms. Many local and state associations have developed standard forms for many aspects of a property transaction, typically through a forms committee with the assistance of association legal counsel and/or local real estate attorneys. Forms can also be provided by Multiple Listing Services, or even your company. Talk to your broker to determine your office’s preferred source for forms.
The terms, deadlines and conditions specified on these forms will vary from state to state, depending on applicable laws and regulations in each jurisdiction. Forms may need to be updated from time to time due to changes in state laws or regulations.
The following are some examples of commonly used forms or contracts:
- Listing agreement
- Buyer representation agreement
- Agency representation agreement
- Property disclosure form
- Contract to purchase a single-family home
- Contract to purchase a condominium
Each form must be fully and accurately completed by the real estate professional to reflect a unique transaction.
Which forms should I use?
Your broker can advise you which forms are used in your office and how to acquire them and fill them out.
What are commonly used forms in Virginia?
Four forms commonly used in Virginia include the
-
NVAR: Northern Virginia Association of Realtors Residential Contract
-
VAR: Virginia Association of Realtors Contract
-
REIN: Residential Contract Real Estate Information Network
- CVR: Central Virginia Regional Contract
How do the 4 main Virginia real estate forms differ?
These contracts differ in regards to Earnest Money Deposits, Settlement Date and Timing, Possession, the Financing Contingency, Home Inspection Contingency, and Appraisal Contingency. The contracts also differ when there is a title defect as well as some differ due to local customs particular to certain regions in Virginia.
If I’m attending a “Contracts” class, how do I know which forms the class covers?
The Contracts class within the CE/PL seminars offered every 2 months at FAAR cover the NVAR contract because it is the most widely used contract in the area. Any Contract classes hosted in conjunction with Virginia REALTORS® covers the Virginia REALTORS® forms. The other 2 contracts are not as commonly found in the Fredericksburg Area and not usually covered in classes at FAAR.
Why should agents be familiar with a variety of forms?
It is beneficial for REALTORS® to know the differences between forms because it is possible to receive offers on any of these forms so knowing how they compare is another way a knowledgeable REALTOR® can show their value.
Are there any forms included with my REALTOR® member benefits?
FAAR REALTOR® members are also members of the Virginia REALTORS® which provides members access to Virginia REALTORS® forms and transaction management software including Skyslope Forms and Skyslope Digisign. Learn more about these great member benefits at virginiarealtors.org/skyslope.
Note: FAAR does not offer contract forms so searching faarmembers.com for forms will lead you to faarmembers.com/forms where other membership-related forms are posted.
King George County looks to major downzoning to stop growth in rural areas
On November 4, 2024, the King George County Board of Supervisors voted 5-0 to send a resolution to the Planning Commission to initiate a text amendment to dramatically increase minimum lot sizes in all three agricultural zoning districts. These changes would impact over 90% of all land in the County. The increases would change the current lot sizes as follows: A-1 which encompasses about 38% of the County would go from 10 acres to 50 acres, A-2 which encompasses about 52% of the County would go from 2 acres to 20 acres, and A-3 which encompasses just 1% of the County would go from 1 acre to 10 acres. The resolution further directs the Planning Commission to hold at least one public hearing on the issue and to send their recommendations back to the Board of Supervisors.
FAAR is strongly opposed to this drastic downzoning as a violation of private property rights and a bankrupting of rural land owners. This action could greatly devalue land throughout the County and could increase the tax burden on all citizens as that lost revenue would need to be made up in higher taxes. FAAR stands against this proposed ordinance change and has initiated the following action steps.
- Letter of concern sent to the King George County Planning Commission
- Letter of concern being drafted to the King George County Board of Supervisors
- Developing an education and action campaign utilizing the National Association of Realtors Issues Mobilization grant to alert County citizens about the proposed changes and give them an opportunity to take action
The King George County Planning Commission met and discussed this item recently and requested more Board direction on what the Supervisors were looking to accomplish with this action. One member stated that a 50-acre minimum is a non-starter and expressed a desire to have a work session with the Board before the Planning Commission initiated any action on this item.
FAAR hosted Supervisor Cathy Binder as part of our regularly scheduled Real Estate Roundtable series and this topic was addressed. Supervisor Binder indicated that for her, this resolution was just the start of a conversation to talk about ways to address growth in the rural areas. She stated that transportation concerns are a big part of this desire as smaller, rural roads cannot always handle significant growth. FAAR looks forward to continuing a dialogue with Supervisor Binder and hopefully other Supervisors as we work to fight this onerous proposed change.
Access below the full text of the resolution and ordinance below and also the letter that FAAR sent to the Planning Commission.
Grow Your Business with an App Designed with You in Mind
Collaborate, communicate, and cultivate client relationships with the cutting-edge app that’sbuilt to keep you at the heart of your clients’home journeys.
Great news, agents—the collaborative, MLS-powered mobile app you’ve been waiting for is here! Free offees and packed with powerful features to grow your business, the new Nestfully app is designed to helpyou nurture the most valuable asset for any successful agent—your client relationships.
Powerful Tools Keep You at the Heart of Your Client’s Home Journey
Here’s what you can do in the app right now:
- Manage buyers and leads on the go
- Gain insights into client activity and behavior
- Search and share listings in a snap
- Expedite communication with in-app messaging
Plus, there’s plenty more to come as Nestfully spreads its wings, including:
- In-app listing creation and management
- Boundary walk
- An integrated, agent-assisted AVM tool
- The ability to promote your listings with powerful social tools
- And more!
3 Things You’ll Love About Nestfully
You might be wondering: How is Nestfully different from all the other real estate apps out there? Here are just a few ways this app sets itself apart.
- It helps you do what you do best—build relationships. Nestfully never gets between you and your clients. It provides a user-friendly space where you can work together for a successful home journey!
- It’s fueled by the MLS . Featuring up-to-date, accurate property listings straight from the source you know and trust, Nestfully keeps you and your clients on the same page.
- It’s free—really. Nestfully and all its features are included as part of your MLS subscription, so it’s yours to enjoy with no subscription fees, no referral fees, no B.S.! Don’t be the one who leaves this valuable tool on the table
Start Building Stronger Client Connections Now
Download the app at the link below and create an account today. Make sure to invite your clients to meet you there for next-level collaboration!
Press Releases
FAAR Celebrates Success and Excellence in Real Estate
The Fredericksburg Area Association of REALTORS® (FAAR) hosted its annual Awards Banquet on April 16, 2025, at Dominion Raceway in Spotsylvania County. This event brings together industry leaders to honor the personal and professional achievements of its members. The...
Local Real Estate Market Sees a Strong Start for the Spring Market
March kicked off the spring market with a strong showing, despite the challenging economic and workforce headwinds facing the region. Median sold price was up nearly 6% year-over-year, coming in at $475,325 in March of 2025 compared to $449,949 last year. Total sold...
Local Real Estate Prices Continue to Rise Despite Uncertainty
The February real estate market continued the trend of increasing prices paired with varying demand across the local footprint. The regional median price soared nearly 6% in February of 2025, coming in at $460,000 compared to $435,000 last year. While prices remained...
2025 Local Real Estate Market Starts With Rising Prices Amid Uncertainty
The local real estate market kicked off 2025 with higher prices and total sold volume, but slightly fewer sales and a lot more homes on the market against a backdrop of uncertainty with the potential for major changes in the federal workforce. Total sold dollar...