Fredericksburg Real Estate Market Report: First Quarter 2016


We’ve just released the First Quarter 2016 Nest Market Report for the Fredericksburg area. We continued to experience declining inventory levels across our market this past quarter which constrained total sales. Limited inventory also put upward pressure on prices which could continue should inventory remain low.

Here are some highlights:

Fredericksburg MSA

  1. Total sales dropped 3% from Q1 2015
  2. Inventory declined 12% compared to the end of Q1 2015 resulting in 4 months of inventory
  3. Median sales prices rose 8% to $260,000 from Q1 2015

Real Estate Market Report

City of Fredericksburg

  1. Inventory dropped 29% year-over-year, reaching the lowest point since January 2013
  2. 61 total sales was the highest Q1 total in the last four years
  3. Contract activity increased 13% from Q1 2015

Real Estate Market Report

Spotsylvania County

  1. Total sales increased year-over-year for the sixth consecutive quarter
  2. Inventory dipped slightly, but not as drastically as other geographic segments
  3. Median sales prices rose to $245,000 from $230,850 in Q1 2015

Real Estate Market Report

Stafford County

  1. Total sales declined by 3% in conjunction with a 16% decline in inventory
  2. Average days on market dropped in every property type category
  3. Contract activity increased by 5% from Q1 2015

Real Estate Market Report

Fauquier County

  1. Total sales rebounded from a slow Q1 in 2015, climbing 13% from Q1 2015
  2. Months of inventory dropped significantly to approximately 3.5 months
  3. Single-family median sales price rose approximately 5% from Q1 2015

Real Estate Market Report

For real estate market updates on Caroline County, Culpeper County, King George County, Madison County, Orange County, Prince William County, and Rappahannock County, you can view the full Fredericksburg First Quarter 2016 Nest Market Report here. Have questions about the report, or ready to start your home search? Contact your Nest Broker today to start the conversation.

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