Prices and inventory up in April
Fredericksburg, VA – (May 12, 2025) – The following analysis of the Fredericksburg, Virginia area housing market has been prepared by the Fredericksburg Area Association of REALTORS® based on analysis of bright MLS multiple listing data.
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 April increased nearly 3%, going from $450,000 last April to $462,000 this year. While prices continued to climb, pace of sales slowed compared to last year. There were 479 homes transacted this April compared to 522 last year, representing an 8% year-over-year decrease from April of 2024. That decline in sales led to a decrease of nearly 5% in total sold dollar volume, posting approximately $244.4 million in sales activity this year compared to $256.7 million last April.
“April 2025 proved positive for sellers with median home prices higher by percentage,” comments FAAR Board of Directors member Gary Gardiner. “Buyers have had a more challenging start to the year with inventory remaining low.”
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 fell 4% going from 26 days last April to 25 days this year.
Active listings broke 1,000 homes on the market for the first time since October of 2022 offering some optimism for buyers in the market who have persistently struggled with low inventory and strong competition. There were 1,012 active listings on the market at the end of April compared to just 791 last year. New listings also increased by about 5% with 678 homes coming on the market in April, about 30 more than last year. New pendings posted strong activity and were up nearly 5% with 636 homes under contract at the end of the month compared to 608 last year.
“We’ve seen a continued sellers’ market through the first quarter and into the second quarter of 2025. Sellers have seen increased days on market in some cases, but a nice return on their investment at settlement. Buyers find challenges through mortgage interest rates remaining higher in the mid-6% range, which is impacting affordability. Real estate professionals representing both sellers and buyers remain optimistic for a positive future in our local housing market with stability in home pricing, reduction in mortgage interest rates, and increased inventory of homes in the marketplace.”
Link to content on FAAR website