2018 Culpeper Market Trends Report

Rappahannock County – Fauquier County  – Madison County – Culpeper County

In 2018 the number of real estate transactions in the Heart of the Piedmont declined from the previous year, however there were some notable bright spots. The number of transactions decreased by 5% although the total dollar value of real estate sales increased by 1% with $867,572,329 sold in 2018 and $859,127,537 sold in 2017.

Residential transactions decreased in numbers by 5%. On a county by county basis, Rappahannock and Madison transactions increased 5% and 25% respectively while Fauquier declined 8% and Culpeper decreased 5%.

Land & Farm transactions decreased by 5%. On a county by county basis, Fauquier and Madison increased 7% and 27% respectively while Culpeper was decreased 17% and Rappahannock decreased 38%.

Culpeper Home Sales

KEY RESIDENTIAL MARKET INDICATORS

NUMBER OF TRANSACTIONS There were 679 transactions in 2018 as compared to 715 in 2017, a decrease of 5%.
 AVERAGE HOME SALES PRICE The average home sales price increased 5% to $301,482 from $288,444 in 2017.
AVERAGE DAYS ON MARKET Average days on market in 2018 was 81 as compared to 91 in 2017, a decrease of 10%.
ACTIVE RESIDENTIAL LISTINGS An average of 351 homes were on the market each month in 2018, compared to 349 in 2017, an increase of 1%.
SALES PRICE TO LIST PRICE Homes sold for 98.7% of list price which was similar to 2017.

In the 4th quarter of 2018, 133 properties sold as compared to 135 properties in the 4th quarter of 2017.

There are currently 325 residential properties for sale which is about a 6 month supply. The active listings have an average days on market of 120. The average list price of homes currently on the market is $380,206. In 2018, homes sold for an average of 1.3% below the list price.

Culpeper Land & Farm Sales

KEY LAND AND FARM MARKET INDICATORS

NUMBER OF TRANSACTIONS There were 95 transactions in 2018 as compared 114 in 2017, a decrease of 17%.
 AVERAGE PRICE  PER ACRE The price per acre for raw land over 25 acres increased 30% from $3,770 to $4,900.
AVERAGE DAYS ON MARKET The average days on market in 2018 was 211 as compared to 297 in 2017, a decrease of 29%.
ACTIVE LAND LISTINGS An average of 244 parcels were on the market each month in 2018 as compared to 234 in 2017, an increase of 4%.
SALES PRICE TO LIST PRICE Land sold for 92% of list price which was relatively flat to 2017.

Seventeen properties sold in the 4th quarter of 2018 as compared to 35 properties in the 4th quarter of 2017. Total sales decreased by 13%.

There are currently 217 properties for sale which is about a 34 month supply. The lots currently on the market have an average days on market of 461.

 

 

View the 2018 Market Trends Report.

View the 2017 Market Trends Report,

Review other Market Trends Reports: Rappahannock County – Fauquier County  – Madison County – Culpeper County

 

 

 

 

 

 

 

 

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