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Monthly Activity in the Fredericksburg Real Estate Market

New listings add to the supply of homes for sale while new contracts initiate a process that sells homes and removes them from the market. The following table displays monthly supply and demand data -- new contracts and Fredericksburg homes for sales (includes city of Fredericksburg, Stafford, Spotsylvania, King George, and Caroline counties). Changes in supply of homes for sale and the demand in terms of new contracts may be an indicator of future Fredericksburg Virginia home prices.

The median sold price is the price at the midpoint of all houses sold. The yearly change is the percentage change in the monthly median sold price compared with the same month a year earlier. Total inventory is the supply of homes available for sales through the multiple listing system (MLS). Contracts are a written agreement between buyers and sellers for future home purchases. New contracts reflect demand and include both contingent and non-contingent contracts written in the month specified. The absorption rate is computed by dividing the total inventory by the new contracts written that month and approximates the time required, at the current rate of contracting, for the market to absorb the current inventory of residential housing. Many view a five to six month absorption rate as representing a housing market in balance between buyers and sellers. Days-On-Market (DOM) is the average number of days from the time of homes being listed to the time homes have contracts for future settlement.

2005 Market Activity by Month-Fredericksburg Real Estate
Year	Month	Sold Price	Yearly Change	Total Inventory	New Contracts	Absorbtion Rate (mo.)	DOM
2005
	January	$270,000	27%	641	529	1.2	47
	February	$285,000	30%	858	616	1.4	43
	March	$299,689	36%	922	741	1.2	39
	April	$310,000	36%	1128	806	1.4	32
	May	$315,500	29%	1161	864	1.4	27
	June	$337,400	29%	1236	758	1.6	28
	July	$335,000	34%	1503	692	2.2	25
	August	$339,444	31%	1772	663	2.7	28
	September	$324,900	27%	2079	531	3.9	36
	October	$341,000	34%	2244	528	4.3	41
	November	$309,200	17%	2299	428	5.4	42
	December	$336,450	20%	2147	362	5.9	46
Source: Metropolitan Regional Information System (MRIS).

2006 Market Activity by Month-Fredericksburg Real Estate
Year	Month	Sold Price	Yearly Change	Total Inventory	New Contracts	Absorbtion Rate (mo.)	DOM
2006
	January	$325,000	20%	2315	483	4.8	59
	February	$325,000	14%	2522	472	5.3	67
	March	$318,700	6.3%	3020	603	5.0	69
	April	$333,500	7.6%	3347	550	6.1	74
	May	$332,500	5.4%	3803	544	7.0	62
	June	$349,990	3.7%	4029	522	7.7	66
	July	$339,950	1.5%	4104	444	9.2	74
	August	$329,000	-3.1%	4036	427	10	79
	September	$329,900	1.5%	3893	376	10	90
	October	$319,417	-6.3%	3801	384	10	97
	November	$324,900	5.1%	3528	320	11	99
	December	$315,000	-6.38%	3235	298	11	107
Source: Metropolitan Regional Information System (MRIS).

2007 Market Activity by Month-Fredericksburg Real Estate
Year	Month	Sold Price	Yearly Change	Total Inventory	New Contracts	Absorbtion Rate (mo.)	DOM
2007
	January	$310,000	-4.62%	3200	382	8.4	120
	February	$310,000	-4.62%	3361	388	8.7	131
	March	$292,900	-8.10%	3745	462	8.1	128
	April	$299,900	-10.07%	4041	416	9.7	124
	May	$321,000	-3.46%	4183	461	9.1	128
	June	$319,000	-8.85%	4318	359	12.0	110
	July	$316,000	-7.05%	4180	383	10.9	106
	August	$309,925	-5.8%	4131	311	13.3	124
	September	$300,000	-9.06%	4000	256	15.6	125
	October	$292,000	-8.58%	3831	271	14.1	138
	November	$300,000	-7.66%	3793	213	17.8	138
	December	$290,000	-7.94%	3616	200	18.1	144
Source: Metropolitan Regional Information System (MRIS).

2008 Market Activity by Month-Fredericksburg Real Estate
Year	Month	Sold Price	Yearly Change	Total Inventory	New Contracts	Absorbtion Rate (mo.)	DOM
2008
	January	$262,500	-15.3%	3608	297	12.1	151
	February	$269,000	-13.3%	3633	359	10.1	151
	March	$265,000	-9.5%	3677	404	9.1	138
	April	$256,125	-14.6%	3735	426	8.8	142
	May	$269,700	-16.0%	3688	401	9.2	132
	June	$276,500	-13.3%	3673	384	9.6	123
Source: Metropolitan Regional Information System (MRIS).

The information provided here is believed to be accurate but not guaranteed. Because the decision to purchase or sell real estate is one of life's most important financial decisions, multiple sources of information should be considered in making an informed decision. Consult your accountant, financial planner, attorney and Fredericksburg real estate agent.

We would appreciate any feedback or suggestions on the statistics provided here. And, please contact us if you would like us to provide you with specialize analysis on the Fredericksburg real estate market.

Website provided by Cathy & Sonny Bray, Fredericksburg Realtors^®
1st Choice Better Homes and Land, LC, Fredericksburg, Va. 
Copyright^© 2007 by Cathy & Sonny Bray, all rights reserved.