By 1st Choice BHL on November 02, 2021

Housing Trends for the Greater Fredericksburg VA Region-September 2021

Discover the housing trends for the greater Fredericksburg VA Region for this month (September 2021).

Each month, we go over the days on market, closed sales, and months of supply for each of the following counties in the greater Fredericksburg VA area:

  • Fredericksburg
  • Orange
  • Caroline
  • King George
  • Stafford

Days on Market in Fredericksburg VA and Surrounding Areas

A bar chart for the median amount of days on market-for-September-2021
  • A range of 6-9 days on market
  • King George: lowest amount of days on market
  • Both Orange and Fredericksburg: highest amount of days on market

According to the chart above (source: getsmartcharts), we see that both Orange county and Fredericksburg county have a median days on market of 9 days. Both Spotsylvania and Caroline are tied for 8 median days on market, and Stafford is 7 days on market. The lowest days on market is King George with 6 days on market.

Closed Sales

A bar chart for the closed sales for September 2021

  • A wide range of 34 closed sales, all the way to 294 closed sales
  • Stafford: leader in closed sales
  • King George and Fredericksburg: lowest number of sales

In reference to closed sales, we see that both Stafford and Spotsylvania have the most sales with 294 homes sold and 268 homes sold, respectively. In 3rd and 4th, Orange and Caroline are significantly lower with 88 and 62 homes sold, respectively. Finally, King George and Fredericksburg have sold 39 and 34 homes in the month of September.

Why most buyers and sellers get less

Average Sales PriceA bar graph about the average price changes for September 2021

  • Prices are averaging from around $300K to upper $400s
  • Spotsy and Stafford have the highest average sales prices
  • Orange brings up the rear

Let's move on to the average sales price of homes sold in September. Spotsylvania and Stafford both are selling at $470,230 and $462,632, respectively. Fredericksburg and King George fill out the middle with $405,779 and $398,871, respectively. Orange is selling at the average of $353,905. Finally, Caroline averages $308,514.

Months of Supply

A bar chart regarding the months of supply for September 2021

  • Very much still a seller-driven market as 0.98 months of supply to 1.72 months of supply are available
  • Orange county currently holds the highest supply
  • Stafford has less than a month of supply

As we mentioned last month, we had a 2 month supply for homes going into the month of September. This seems to be the case still, dependent on the location. Orange county has the highest supply of homes with 1.72 months followed by King George and 1.53 months of supply. Then, Fredericksburg has 1.49 months of supply, rounding out the top three. The three counties with the lowest supply are Spotsylvania, Caroline, and Stafford with 1.08 months of supply, 1.07, and 0.98 months of supply, respectively.

Takeaways from this Month's Charts

In comparison to September 2020, the average sales of homes have skyrocketed by around 14%. That being said, we are seeing only moderate growth when compared to last month (1.72%), and a majority of that change comes from King George homes sold. And, as we look across the Mid-Atlantic Region, there is a dip by around 4% of average sales prices. Supply is still precariously low especially for areas like Spotsylvania and Stafford, who are selling in a little over a week at higher prices than the other areas.

Why most buyers and sellers get less

Published by 1st Choice BHL November 2, 2021