FREDERICKSBURG, Va. – The folks at the Fredericksburg Area Association of REALTORS just told Potomac Local News that home prices in our region hit an all-time high last month—even as sales slowed and homes took longer to sell.
July’s median home price reached $490,000, a 3% jump from last year’s $473,740. That’s despite local agents saying the pace of deals has cooled a bit. A total of 543 homes sold—slightly more than last July—and total sales volume surged over 11% to nearly $298.9 million.
More homes are hitting the market, too. Inventory is up 34% from last year, with 1,226 active listings at the end of July. Still, new listings barely budged, and pending contracts only inched up 1%. Homes are now taking 28 days on average to go under contract, up from 25 days last year.
Realtor Rachel Flynn says sellers should expect longer waits for offers but notes more interest from buyers in the $500K–$650K range—possibly spurred by a recent dip in mortgage rates. She predicts a strong fall and winter for the local housing market.
Here’s the full press release:
Area median home price sets record in July
Supply up, new transactions flat but prices keep rising
Fredericksburg, VA – (August 11, 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 regional median home price was up again in July, despite anecdotal information from area Realtors® that they are seeing a slower pace of sales. The median home price for July came in at a record setting $490,000, up 3% year-over-year compared to $473,740 last July. Units sold also surpassed last July with 543 homes changing hands this year compared to 527 in 2024, a 3% increase. Sold dollar volume was up over 11% posting nearly $298.9 million in volume, compared to $268.4 million in July of 2024.
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 12% up to 28 days this July compared to 25 days last year.
Inventory was up again, finishing out the month with 1,226 active listings compared to 912 last year, a more than 34% increase. New listings were up a scant 0.31% from last year with 639 homes coming on the market in July of 2024 compared to 641 this year. New pending sales were up about 1% in the last month, with 542 pending contracts compared to 538 last July.
“As we’ve seen an influx of inventory available, the conversation with my sellers has shifted,” states FAAR Board of Director Rachel Flynn. “We are discussing longer days on market to be expected and the need for flexibility and openness as we receive feedback. In addition to the already popular below $500,000 buyer pool, I’ve noticed a rise in buyer activity in the above $500,000 to $650,000 price range. With news from local lenders of a small recent rate drop and talk of lower rates to come in the cooler season, I’ve been answering more incoming questions and inquiries about whether now is the right time to buy. With inventory steady and buyers ramping up, it seems we are going to have a strong fall and winter season in our local real estate market.”
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