Fredericksburg 2024 Mid-Year Report

Welcome to the Nest Realty Fredericksburg 2024 Mid-Year Market Report. Please find the downloadable PDF version of our full Fredericksburg area Mid-Year Report here: Fredericksburg_MYR_2024

Market Performance at a Glance

After a slow start, 2024 has been a year for market stabilization, including an increase in inventory, fewer offers over list price, more buyers requesting seller subsidy, and more inspections. The biggest change in the market has been a focus on how buyer’s agents get paid. The lawsuits against Realtor associations, state boards, MLSs, and individual brokers are affecting real estate across the country. These lawsuits demand that we divorce commissions, ensuring the buyer pays their agent compensation, and the seller pays the listing agent’s compensation, allowing for more transparent compensation negotiations. However, buyers are now facing the reality of having to come up with cash for representation. As of now, new agency forms are being adopted, the government is looking at policies for government-backed loans, and lenders are finding ways to help buyers pay the agency commission. If you find this all a bit confusing, we completely understand. But rest assured, Nest agents are prepared, ready, willing, and able to discuss the market, the lawsuits, and strategies to achieve your housing goals.