News and Resources for the Public
Regional home prices continue to soar in April
The local real estate market broke more records in April of 2022 with the regional median sales price and two jurisdictions seeing all-time highs. The month closed out with a nearly 18% increase in total sold dollar volume, going from approximately $288 million in...
Regional Home Prices Continue their Meteoric Rise
Despite rising interest rates and continued stiff competition, March proved another very strong month in the local real estate market. The month closed out with a nearly 13% increase in total sold dollar volume, going from approximately $256.6 million in March of...
February real estate market breaks price record
February 2022 was a record-setting month with the area’s median price eclipsing $400,000 for the first time in history. The local market continues to be very challenging for buyers and for sellers who don’t have a well-defined next step. FAAR Board Member Michele...
Low Inventory Continues to Plague Housing Market
January 2022 continues to see the same issues that have been plaguing the local real estate market for many months, namely low supply. A lack of choice in the market coupled with steadily rising prices and a brutal blast of winter led to decreased sales in the month...
FAAR Releases 2021 4th Quarter Home Sales Report
Fredericksburg Area Association of REALTORS®Market Report Key Takeaways Economic Conditions Economic conditions in Virginia continued to improve in the fourth quarter, with broad-based jobgains and another drop in the unemployment rate. The employment picture also...
High Prices, Continued Low Supply Close Out the 2021 Housing Market
While many Realtors® have experienced moderating of the real estate market in recent months, 2021 as a whole was a more frenetic market than its record-setting predecessor of 2020. “2021 saw the trend continue of extremely low inventory coupled with very...
Local Home Prices Up Big in November
While some normalcy continues to return to the market, prices increased significantly in November with the area housing market flirting with a $400,000 median price. Total sold dollar volume increased by 22% fueled by a more than 16% rise in median sold price and a...
Fredericksburg-area Home Sales Slow Slightly in October
The Fredericksburg-area real estate market showed indications of cooling with the first year-over-year decline in units sold since the start of the pandemic. Units sold posted a more than 3% decline this October versus last year with 736 home sales in 2021 compared...
FAAR Releases Q3 Housing Report
As the third quarter of 2021 came to a close, the regional real estate market saw a 13% increase in median price, 187 more home sales than the same time last year, and a 28% increase in active listings from a year ago. Get all the details along with great graphics for...
More Normalizing in the Fredericksburg-area Real Estate Market
The local real estate market continues to experience high transaction volume, inventory challenges, and rising prices, but those increases are moderating and significantly more inventory is available for buyers. As summer faded into early fall, inventory was up a...
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