The state of the real estate market in the Fredericksburg VA area remains steady. Listings sold shows a sharp increase as of October 2021. The following report of the Fredericksburg, VA area housing market has been prepared by the Fredericksburg Area Association of REALTORS® based on a study of Bright MLS multiple listing data. Inventory is still down, though it’s up 21 percent from last year at this time. Home buyers should have a very aggressive agent to view and offer shortly after the property goes active. A nice property may obtain as many as ten offers. Usually a cash offer with no contingencies wins so time is of the essence. The median sales price is $378,000 which is up from $335,000 last year. Homes are averaging 13 days on the market to a contract, which is hotter compared to last year at 22 days. There are 884 homes active in the Fredericksburg area, which is up from 609 homes last year. I do expect the market to stabilize as we near the upcoming holiday seasons. The interest rates are at historic lows and are expected to remain stable for the near future.