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- Three homes in downtown Fredericksburg will soon hit the market for more than $3 million: 1304 Washington Ave. (coming soon for $3.2 million), 213 Caroline St. ($3.195 million) and 307 Amelia St. ($3.75 million). There has never been a home sold in Fredericksburg for more than $3 million (the record is a sale of 1304 Washington Ave. in 2006 for $2.75 million).
- Local housing prices continued to increase in February, according to data from the Fredericksburg Area Association of Realtors. The regional median sales price that month was $460,000, up 6 percent year-over-year. Units sold (305) dropped 9 percent from February 2024. Days on market, the time it takes from when a listing enters the market until it receives a ratified contract, jumped 20 percent to 36 days.
- There were 82 homes sold last week in the Fredericksburg region, according to FAAR. Check back weekly for the new list.
- “In February, the housing market was abuzz with uncertainty following significant announcements and changes affecting the federal workforce,” said FAAR Board Member Tamar Myers-Moffatt. “With folks heading back to the office and remote work winding down, everyone’s wondering about how this will shake up real estate.”
Here is jurisdiction-level data:
Biz, in brief
- A co-working space and coffee lounge called Success Space is opening in the next few weeks at the Spotsylvania Towne Centre.
- Cushman & Wakefield | Thalhimer reports the following recent lease transactions in the Fredericksburg area:
- Dewey Wright, 3,000 square feet of industrial space at Longwood Business Center, 230 Industrial Drive, in Spotsylvania County
- Alizal Havens LLC, 3,000 square feet of industrial space at Longwood Business Center, 230 Industrial Drive, in Spotsylvania
- Iglesia Pentacostes Uncion poder y Gloria, 2,100 square feet of office space at 4724 Harrison Road in Spotsylvania
- VIVO Infusion Virginia, 1,909 square feet of retail space at Central Park Marketplace, 1771 Carl D. Silver Parkway, in Fredericksburg
- BUMRUSH Vinyl Shop, 1,436 square feet of retail space at Route 3 Village Center, 2213-2229 Plank Road, in Fredericksburg
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Ownership recently changed at Harry’s in Downtown Fredericksburg.
Longtime Harry’s Restaurants employee Trevor Sherwin has taken over ownership of the Harry’s Downtown location at 601 William St. in Fredericksburg and the adjacent Harry’s Sidecar. Ownership did not change at the Harrison Crossing location. Sherwin said the restaurant will continue to operate as Harry’s, but minor menu and culture changes are planned. He also said the location plans to increase the number of events and activities and will focus on a “killer happy hour.”
- A husband-and-wife team plans to open a store called Tales & Tails at 1010 Charles St. in downtown Fredericksburg that blends their “passions and expertise to create a unique gathering place for book lovers, coffee enthusiasts, and dog owners alike.”
- City Cove Studios is planned at 2619 Princess Anne St. in Fredericksburg. It’s described as a “place that nurtures creatives from all walks of life.” The studio will be available for private pop-up events, workshops and various artistic endeavors.
- The Robin’s Nest Cafe at Shannon Airport is the focus of this week’s Biz Beat Clips video.
- Germanna Community College President Janet Gullickson is the guest on this month’s edition of the Biz Beat Banter podcast (which will be published weekly starting in April).
- Lance, the iconic newsboy statue that once stood outside the entrance of The Free Lance-Star newspaper is back downtown, near the entrance to The Publisher Hotel.
- The Publisher Hotel has signed on as the official hotel partner of the Fredericksburg Nationals. Starting this season, visiting teams will stay at the downtown hotel. The Publisher’s Five Chophouse & Bar has also signed on as the FredNats’ restaurant partner.
- Three longtime local leaders who will soon retire — Germanna Community College President Janet Gullickson, Rappahannock United Way President Janel Donahue and Community Foundation of the Rappahannock River Region Executive Director Teri McNally — will be honored at the Fredericksburg Regional Chamber of Commerce’s “Local Legends” event March 26 at the Jepson Alumni Executive Center.
- A Tealux Cafe location is planned at 3601 Plank Road in Spotsylvania.
- The University of Mary Washington’s championship soccer field has been named in honor of Roy Gordon, founding coach of the men’s soccer team. UMW has been raising money to make improvements to the field.
“Biz Beat Roundup” runs every Wednesday morning and includes a roundup of business news from around the Fredericksburg region. Send submissions to: [email protected]
