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Median home prices back up in October
Median housing price increases rebounded again in October after just one month of year-over-year decreases in September. Median price was up over 3% in October 2025, coming in at $469,900 compared to $455,000 last October. Units sold were also up over last year with 426 properties changing hands in October versus 404 last year, a more than 5% year-over-year increase. These two factors fueled a 5% increase in total sold dollar volume with October posting approximately $212.9 million in sales compared to $202.6 million in October of 2024.
This is against a backdrop of continually rising inventory and lengthening days on market. Active listings posted a significant annual increase with 43% more listings available this October than last. There were 969 active listings at the end of October in 2024 compared to 1,382 at the end of this October. Active listings have posted monthly year-over-year gains for almost two years now and the market has exceeded 1,000 homes since April of this year, providing significantly more choice and options for would-be buyers.
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, increased 26% up to 34 days this October compared to 27 days last year.
Despite more varied options for buyers, new pending sales were down nearly 4% this October with 463 new pending contracts compared to 481 last October. New listings were up 8% with 615 homes coming onto the market this October compared to 569 last year.
FAAR Board of Director Michelle Caldwell Thompson comments, “Optimism may return to the market this fall as we anticipate the federal government’s full reopening. The temporary pause in activity created a bit of pent-up demand, especially among buyers who were waiting on the sidelines for stability and clarity. We’re beginning to see renewed inquiries, increased showing activity, and a lift in consumer confidence. Sellers who remain realistic on pricing are benefiting from motivated buyers eager to take advantage of easing rates and expanded inventory. As these buyers re-engage, the next few weeks could bring a steady and encouraging close to the year — a positive sign of momentum returning to the Greater Fredericksburg market.”
Blue Wave Hits Virginia, Lots of New Faces in Local Politics
There was a blue wave in the Commonwealth of Virginia on Election Night 2025 with Democrats coasting to victory all across the state, a strong shift after last year’s swing to the right with the election of Donald Trump.
Abigail Spanberger easily defeated Winsome Earle-Sears to become the first woman Governor of Virginia. Ghazala Hashmi also made history as the first Muslim woman to be elected to statewide office in the Commonwealth. Jay Jones secured Attorney General, despite a late campaign scandal.
Many new faces will be joining the General Assembly and local Boards of Supervisors along with the City Council. FAAR is eager to provide accurate, timely information on the housing market to these new members and looks forward to establishing relationships as they take office.
Caroline County did not have any elections this year.
The chart below indicates the outcome of races in the FAAR service territory.
* Denotes incumbent
| Virginia House of Delegates | |||
| HD-63 | Forrest Miller, D | Phil Scott*, R WINNER | Virginia Realtors® endorsed Phill Scott |
| HD-64 | Stacey Carroll, D WINNER | Paul Milde*, R | Virginia Realtors® endorsed Paul Milde |
| HD-65 | Josh Cole, D WINNER | Sean Steinway, R | Virginia Realtors® endorsed Josh Cole |
| HD-65 | Nicole Cole, D WINNER |
Bobby Orrock*, R | Virginia Realtors® endorsed Bobby Orrock |
| HD-67 | Mario Haggerty, D | Hillary Pugh Kent*, R WINNER | Virginia Realtors® endorsed Hillary Pugh Kent |
| City of Fredericksburg | |||
| Ward 1 | Matt Rowe WINNER |
David Cropper Ken Gantt | FAAR endorsed Realtor® member David Cropper |
| Ward 2 | Joy Crump WINNER |
Anne Little | FAAR endorsed Joy Crump |
| Ward 3 | Susanna Finn WINNER | Matt Kelly | FAAR endorsed Susanna Finn |
| Ward 4 | Chuck Frye* WINNER | Jesse Dominguez | FAAR endorsed Chuck Frye |
| King George County | |||
| Monroe | Shawn Palivoda | Bryan Metts WINNER |
No endorsement made |
| Shiloh | Cathy Binder* WINNER | Uncontested | |
| Orange County | |||
| District 1 | J. Jason Capelle WINNER | Andrew Fossen W. Chris Herndon | No endorsement made |
| District 4 | Crystal Hale* WINNER | Robert Rabe | No endorsement made |
| Spotsylvania County | |||
| Battlefield | Chris Yakabouski* | Baron Braswell | Too close to call right now
FAAR endorsed Baron Braswell |
| Lee Hill | Lori Hayes* WINNER | Marcus Garcia | No endorsement made |
| Berkeley | Kevin Marshall*
Nilo Garza |
David Goosman WINNER |
FAAR endorsed Kevin Marshall |
| Stafford County | |||
| Aquia | Maya Guy WINNER |
Hank Scharpenberg | No endorsement made |
| Hartwood | Darrell English* WINNER |
Kelly Robertson Marcus Oates | No endorsement made |
| Falmouth | Michael Catell | Kecia Evans WINNER |
FAAR endorsed Kecia Evans |
| Garrisonville | Pam Yeung* WINNER |
Bart Randall | No endorsement made |
FAAR REALTOR® Cereal Drive Collects 7,388 Boxes — And Counting!
The Fredericksburg Area Association of REALTORS® (FAAR) is proud to announce the success of this year’s REALTOR® Cereal Drive, with 7,388 boxes of cereal collected so far to support local families facing food insecurity. Additional donations are still being reported, and the final total is expected to increase in the coming days.
Each year, FAAR REALTOR® and Affiliate members unite to collect cereal for distribution to local food banks and community partners serving families across the region. These donations provide thousands of bowls of breakfast to neighbors in need and help keep pantry shelves stocked during a heightened period of demand.
This year’s participating companies include:
-
Berkshire Hathaway Home Services PenFed Realty
-
Coldwell Banker Elite – Stafford
-
Coldwell Banker Elite – Fredericksburg
- CTI Real Estate
-
eXp Realty
- Long & Foster
-
Realty ONE Group Key Properties
-
Samson Properties
- Topside Federal Credit Union
(Additional offices may be added as final collections are reported.)
Cereal donations were distributed to local food banks and partner organizations serving Fredericksburg, Stafford, Spotsylvania, King George, and surrounding counties.
FAAR extends heartfelt thanks to every REALTOR®, Affiliate, office, and community member who contributed time, funds, or cereal to make the 2025 drive a success!
King George Planning Commission sets Public Hearing on downzoning ordinance
King George County has spent the last year discussing a downzoning ordinance that would increase the minimum lot size in the majority of land in the county. Under the current zoning, A-1 parcels required a 10-acre minimum, A-2 requires a 2-acre minimum and A-3 requires a 1-acre minimum. Under the revised proposed changes to the text amendment, these minimum lot sizes would increase to 20, 5, and 3 acres respectively. King George County already has one of the most restrictive zoning codes in the region with an annual growth rate of less than 2%. This downzoning punishes rural landowners who have built up considerable value in their land by making it harder for them to realize the full financial potential of their property.
If you are concerned about this issue, consider reaching out to your member of the Planning Commission by either sending an email or attending the next meeting where this will be discussed.
King George County Planning Commission Meeting
Wednesday, November 12, 2025 at 6:30pm
Board Room of the Revercomb Building
10459 Courthouse Drive
King George, VA 22485
These changes could restrict the ability to develop land efficiently and cost-effectively and could have significant economic consequences for King George County landowners. Here are some key talking points to consider when advocating against these amendments at the upcoming planning commission meeting:
- Economic Impact:The increase in minimum lot sizes could reduce the market value of property as many divisions will need to go through the costly and time-consuming rezoning process.
- Property Rights:These amendments infringe upon property owners’ rights to utilize their land as they see fit within existing zoning regulations. Limiting the number of lots that can be created per parcel restricts property owners’ ability to maximize the value of their assets.
- Housing Affordability:These amendments could drive up the cost of housing in our area by decreasing lot yield. Decreasing available and buildable lots will result in higher home prices, making homeownership less accessible for working families and young professionals.
- Competitive Disadvantage: Large developers with more resources may be better positioned to absorb the impact of these amendments or seek alternative development opportunities. Small home builders, on the other hand, may struggle to compete in a market where their ability to maximize land use is constrained.
REALTORS® Raise Nearly $13,000 for Local Housing Assistance Through Back-to-Back Fundraisers
The Fredericksburg REALTORS® Foundation and Young Professionals Network (YPN) of the Fredericksburg Area Association of REALTORS® (FAAR) turned two fun-filled fall events into meaningful community impact, raising nearly $13,000 in one weekend to be granted out to local housing charities.
The fundraising began on Friday, October 10, with the annual Par for FAAR Foundation Charity Golf Tournament at Augustine Golf Club. REALTORS®, affiliates, and community sponsors enjoyed a day on the course while raising funds to help local families facing housing insecurity.
The giving spirit continued Saturday, October 11, as YPN hosted its popular Cheers for Charity Pub Crawl, visiting three favorite downtown Fredericksburg locations. The crawl alone raised $1,755 for the Foundation.
“The REALTOR® community really showed up this weekend,” said Jenn Burton, President of the Fredericksburg REALTORS® Foundation. “Between the Golf Tournament and the Pub Crawl, we proved that making a difference doesn’t have to be complicated — it can be fun, social, and deeply rewarding.”
The Fredericksburg REALTORS® Foundation provides emergency housing assistance and financial support to local nonprofit organizations that serve area residents in need.
FAAR extends heartfelt thanks to all sponsors, participants, and venues who made these events possible. Together, REALTORS® continue to demonstrate their commitment to helping neighbors find — and keep — a place to call home.
📸 Photos from the Golf Tournament are available at: PAR for FAAR – Fredericksburg Area Association of Realtors – FAAR
📸 Photos from the Pub Crawl are available at: https://www.facebook.com/media/set/?vanity=FAARYPN&set=a.1410262737775862
Median price dips for first time in over two years
Could the region finally see a stop to ever increasing home prices? September statistics show that it’s possible the tide is turning and that prices will finally cool after more than six years of consistent price growth. September of 2025 saw prices dip across the region for the first time since April of 2023. The median sold price settled at $462,500 this month compared to $472,000 in September of 2024, representing a small 2% year-over-year decline. Despite the decline in median price, total sold dollar volume was still up 1% with approximately $234.7 million in transactions posting this September compared with approximately $232.3 million last year.
While the regional median price drop this September is notable as only the second month since early 2019 that the market has seen any price drops, the decreases were not evenly distributed across all jurisdictions. Only Orange and Spotsylvania counties saw price dips while all other counties saw year-over-year price growth. Caroline County notably experienced its highest median price point ever at $405,000, a 13% increase in price from last September.
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, increased 21% up to 41 days this September compared to 34 days last year.
Inventory continued to grow in September, finishing out the month with 1,333 active listings compared to 917 last year, a 45% increase. New listings were up more than 11% from last year with 529 homes coming on the market in September of 2024 compared to 586 this past month. New pending sales were down 6%, with 448 pending contracts compared to 477 last September.
FAAR Board of Director Phillip Blake comments, “September continued August’s trend with signs of a normal fall market. Increasing inventory has given buyers more options, allowing them to search patiently while negotiating contingencies that offer them protection as they perform their due diligence. We continued to see sellers offering price improvements, as well as seller paid concessions. There seems to have been an increase in buyer activity toward the end of September coinciding with lower interest rates. All in all, September continued a welcoming trend towards normalcy returning to our market.”
Interested in mentoring students for a future in real estate? Spotsylvania wants to hear from you!
Spotsylvania County Public Schools are seeking mentors to be part of an exciting opportunity by hosting a high school student for a 40-hour field experience (job shadow).
This experience allows students to explore career paths, gain insight into the industry, and begin building a professional network. For your business, it’s a chance to connect with future talent and give back to the community by supporting workforce development.
If you’re interested in serving as a mentor and have access to the required office space (no home offices allowed), then please use the information on the flier below to reach out directly to the school system.
Meet FAAR’s endorsed candidates for the November 4 election!
Each election cycle, members of FAAR’s Public Policy Committee invite candidates for local public office in for an interview to both get to know that candidate and to evaluate them for potential endorsement. An endorsement typically involves a financial contribution with verbal support for that individual. That information is then shared with our members.
We make candidate endorsements to help our members identify leaders whose values, qualifications, and policy positions align with our mission. Endorsing candidates allows us to amplify voices we believe will best represent our members’ interests and make informed decisions on key issues.
We understand that our members make their own choices on who to vote for and that many factors influence that decision. If your real estate business is an important part of your decision-making process, we encourage you to support the following slate of candidates.
David Cropper, Realtor®
City of Fredericksburg, City Council Ward 1
David is a lifelong City resident, a local business owner, and a FAAR Realtor® member! David is committed to seeing expanded workforce housing in the City, better pay for teacher retention, and is eager to work with his fellow Realtors® to address housing needs in the City.
Joy Crump
City of Fredericksburg, City Council Ward 2
Joy is the owner of beloved Fredericksburg restaurant, Foode, and has a deep understanding of the challenges facing both local businesses and their workforce. She’s focused on expanding housing options for local citizens like her employees and helping to usher the City into the future.
Susanna Finn
City of Fredericksburg, City Council Ward 3
Susanna has chosen the City as her home and is raising a young family while being highly engaged in the local community. She has a deep commitment to historic preservation while also balancing that with encouraging growth that will help bring some affordable options to market. She has a deep knowledge of the City, having both lived and worked locally, and is committed to seeing responsible development into the future.
Chuck Frye
City of Fredericksburg, City Council Ward 4
Chuck is a champion of homeownership and will fight for smaller units that local residents can afford. He is very focused on ensuring the success of local youth through education and other opportunities and always welcomes engagement with local Realtors®.
Baron Braswell
Spotsylvania County Boad of Supervisors, Battlefield District
Baron served on the County School Board and has a deep knowledge and understanding of the County. He’s opposed to onerous government mandates and believes in providing incentives to produce more affordable units for local residents.
Kevin Marshall
Spotsylvania County Boad of Supervisors, Berkeley District
Kevin has a long history in Spotsylvania County and has been a true supporter of Realtors® throughout his tenure on the Board of Supervisors. He understands the value of real estate to the local economy and is always willing to sit down and disuss issues of importance with FAAR members.
Kecia Evans
Stafford County Board of Supervisors, Falmouth District
Kecia is a 10-year resident of the County with 4 children who have graduated from the public school system. She is currently serving as a Planning Commissioner and has a deep working knowledge of the growth and housing affordability challenges facing the County. She is eager to work with Realtors® and to serve the County.
Need information on where and how to vote? Download the Virginia Voter Pocket Guide for full details on voting including deadlines and where to vote. Early voting starts September 19 so make your plan to vote today!
Prices up again in August as pace of sales continues to slow
The local real estate market continued to see rising prices against a backdrop of expanding inventory and fewer sales than a year ago. The median price for August increased more than 5%, going from $461,500 last August to $485,750 this year. While prices continued to climb, the pace of sales continued to slow compared to last year. There were 491 homes transacted this August compared to 531 last year, representing a nearly 8% year-over-year decrease from August of 2024. That decline in sales led to a slight decrease of not quite 1% in total sold dollar volume, posting approximately $266.6 million in sales activity this year compared to $267.7 million last August.
“As we move into the autumn season, the Fredericksburg housing market is showing its usual signs of slowing, with more listings coming online and prices holding steady,” states FAAR President-Elect Matthew Rathbun. “Sellers aren’t seeing the rapid pace of sales we’ve had in recent years, but the market remains balanced and healthy. Buyers, meanwhile, are enjoying a bit more breathing room in their search and are watching interest rates closely, hopeful that future drops could expand their options. Overall, we’re in a period of stabilization rather than sharp swings, which is good news for long-term market confidence.”
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 increased 4% going from 26 days last August to 27 days this year.
Active listings continued to expand in August with a 37% year-over-year increase from 2024. There were 944 homes on the market at the end of last August and that has ballooned to 1,295 homes active at the end of this August. New listings were up nearly 21% with 689 homes coming onto the market compared to 570 in August of last year. Even with all of the new selection on the market, new pendings were up a scant 1% with just a handful more under contract properties this August compared to last year. August of 2024 saw 495 new pending contracts while this year posted 502.
2026 FAAR Board of Directors announced
Rachel Flynn
Allison Graves
Sheronica Thompson
Affiliate Director
Press Releases
Median home prices back up in October
Median housing price increases rebounded again in October after just one month of year-over-year decreases in September. Median price was up over 3% in October 2025, coming in at $469,900 compared to $455,000 last October. Units sold were also up over last year with...
Blue Wave Hits Virginia, Lots of New Faces in Local Politics
There was a blue wave in the Commonwealth of Virginia on Election Night 2025 with Democrats coasting to victory all across the state, a strong shift after last year’s swing to the right with the election of Donald Trump. Abigail Spanberger easily defeated Winsome...
REALTORS® Raise Nearly $13,000 for Local Housing Assistance Through Back-to-Back Fundraisers
The Fredericksburg REALTORS® Foundation and Young Professionals Network (YPN) of the Fredericksburg Area Association of REALTORS® (FAAR) turned two fun-filled fall events into meaningful community impact, raising nearly $13,000 in one weekend to be granted out to...
Median price dips for first time in over two years
Could the region finally see a stop to ever increasing home prices? September statistics show that it’s possible the tide is turning and that prices will finally cool after more than six years of consistent price growth. September of 2025 saw prices dip across the...