The Long & Foster Market Minute

Focus On: Downtown Fredericksburg Housing Market June 2021

Zip Code(s): 22401
Units Sold
38
Active Inventory
51
Median Sale Price
$399,000
Days On Market
22
No Change
Vs. Year Ago
Down -29%
Vs. Year Ago
Up 19%
Vs. Year Ago
Down -35%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 38 sold this month in Downtown Fredericksburg Real Estate, a decrease of 21%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is lower by 21 units or 29%. The total number of active inventory this June was 51 compared to 72 in June 2020. This month's total of 51 is lower than the previous month's total supply of available inventory of 56, a decrease of 9%.

Median Sale Price
Last June, the median sale price for Downtown Fredericksburg Homes was $334,995. This June, the median sale price was $399,000, an increase of 19% or $64,005 compared to last year. The current median sold price is 3% lower than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
57
Current Contracts
53
Sold Vs. List Price
97.4%
Months of Supply
1.3
Up 19%
Vs. Year Ago
Up 47%
Vs. Year Ago
No Change
Vs. Year Ago
Down -29%
Vs. Year Ago

Months of Supply
In June, there was 1.3 months of supply available in Downtown Fredericksburg, compared to 1.9 in June 2020. That is a decrease of 29% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 57 homes newly listed for sale in Downtown Fredericksburg compared to 48 in June 2020, an increase of 19%. There were 53 current contracts pending sale this June compared to 36 a year ago. The number of current contracts is 47% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Downtown Fredericksburg was 97.4% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 34, a decrease of 35%.

The Long & Foster Market Minute Downtown Fredericksburg are defined as properties listed in zip code/s 22401.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.