The Fredericksburg-area housing market in April continued to see rising prices coupled with expanding inventory and fewer sales than a year ago, according to the Fredericksburg Area Association of Realtors (FAAR). The region’s median sales price for April increased 3 percent year-over-year to $462,000. There were 479 home sales in April compared to 522 last year. Homes spent an average of 25 days on the market before going under contract. Active listings broke 1,000 homes for the first time since October 2022 (there were just 791 homes on the market last April).- FAAR Board of Directors member Gary Gardiner said about the data: “We’ve seen a continued sellers’ market through the first quarter and into the second quarter of 2025. Sellers have seen increased days on market in some cases, but a nice return on their investment at settlement. Buyers find challenges through mortgage interest rates remaining higher in the mid-6% range, which is impacting affordability. Real estate professionals representing both sellers and buyers remain optimistic for a positive future in our local housing market with stability in home pricing, reduction in mortgage interest rates, and increased inventory of homes in the marketplace.”
- Here are the locality-by-locality data for April:
- There were 108 homes sold last week in the Fredericksburg region, according to FAAR, including a $1.1 million sale downtown. Check back weekly for the new list.
- Honor Bound FIT in Stafford County is the focus of this week’s Biz Beat Clips video.
- Former Free Lance-Star Publisher Nick Cadwallender is the guest on this week’s edition of the Biz Beat Banter podcast.
- A restaurant, bar and event venue called The Social FXBG is planned at 11047 Pierson Drive in Spotsylvania County. Maltese Brewing was located in that space before moving to the nearby Bowman Center.
- Union Home Mortgage recently opened at 606 William St. in Downtown Fredericksburg (former Hallberg & O’Malley Financial Group space).
- A rezoning has been requested in Spotsylvania on the north side of Summit Crossing Road between the rail line and the Caroline County boundary. The 125-acre Summit Technology Park project would feature 2.2 million square feet of data centers and an electrical substation. The property owner and applicant is Henrico County-based GAM Spotsylvania LLC. The property is just north of the recently approved AWS Summit Crossing Tech Data Center Campus.
- Orofino Wellness, which has Pilates and wellness studios at 1403 Franklin St. and 521 William St. in Fredericksburg, will hold the “Reclaim Retreat” June 28-29 at The Woolen Mill. The event is designed to help people reconnect with their bodies through movement, food and self-care.
- A rezoning has been requested in Spotsylvania for a residential community on a 556-acre tract off Lake Anna Parkway just southwest of Spotsylvania Courthouse Village. The Po River Landing project would feature 152 single-family detached homes on 2-acre lots. The applicant is Pilgrim Lane LLC of Spotsylvania, and the property owner is Sisk Land Trust.
- Holistic Wellness Group at 6308 Five Mile Centre Park, Suite 217, in Spotsylvania celebrated its grand opening last week.
- Two used-car dealerships are proposed at 3601 Loren Whitney Drive in Spotsylvania’s Massaponax Business Park off Lee Hill School Drive. A special-use permit is required.
- A worship facility for Fawn Lake Church is proposed on a 12-acre site at 11611 Orange Plank Road in Spotsylvania. A special-use permit is required.
- A residential community with 36 single-family attached homes is proposed on a 5.55-acre property at 4433, 4429 and 4425 Lee Hill School Drive in Spotsylvania (between Germanna Point Drive and Old Dominion Parkway, east of Interstate 95 and north of U.S. 17). A rezoning is required.
- The Chipotle Mexican Grill location at 10424 Courthouse Road in Spotsylvania (intersection of Leavells and Courthouse roads) is scheduled to open Thursday.
- Cushman & Wakefield | Thalhimer reports the following recent lease transactions in the Fredericksburg area:
- Weis Markets Inc., 33,000 square feet of retail space at The Shops at Lee’s Hill, 10601-10635 Spotsylvania Avenue, in Spotsylvania (renewal)
- 1Luv Foods LLC, 12,500 square feet of office space at 110 Juliad Court in Stafford
- Valdivia Dental LLC, 2,068 square feet of retail space at Spring Knoll, 20 Plantation Drive, in Stafford
- Dariusz Startek, 2,000 square feet of industrial space at Airport Center, 3509 Shannon Park Drive, in Spotsylvania
- Infinite Technologies Orthotics & Prosthetics renewed 1,500 square feet of office space and expanded by an additional 1,500 square feet at 312 Progress Street in Fredericksburg
- Rebel Dance and Pole, 1,400 square feet of office space at Fredericksburg Business Center, 11047 Pierson Drive, in Spotsylvania (renewal)
- Live with a Purpose Home Health Care LLC, 1,090 square feet of industrial space at Brafferton Square Business Park, 306 Garrisonville Road, in Stafford (renewal)
- Dr. James DeSimone, 1,040 square feet of industrial space at Brafferton Square Business Park, 306 Garrisonville Road, in Stafford (renewal).
Biz Beat Roundup runs every Wednesday morning and includes a roundup of business news from around the Fredericksburg region. Send submissions to: [email protected]
