2018 Rappahannock Market Trends
2018 Fauquier Market Trends Report
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%.
Fauquier Home Sales
KEY RESIDENTIAL MARKET INDICATORS
In the 4th quarter of 2018, 201 properties sold as compared to 269 properties in the 4th quarter of 2017. All segments except for the million dollar plus segment decreased. Seven homes over $1,000,000 sold in the 4th quarter compared to only three in the 4th quarter of 2017. However, for 2018, all segments showed year over year declines.
There are currently 432 residential properties for sale which is about a 5 month supply. The active listings have an average days on market of 284. The average list price of homes currently on the market is $734,373. In 2018, homes sold an average of 1.7% below the list price.
Fauquier Land & Farm Sales
KEY LAND AND FARM MARKET INDICATORS
Thirty-three properties sold in the 4th quarter of 2018 compared to 40 properties in the 4th quarter of 2017. Dollar sales increased 43% reflecting the sale of several large farms.
There are currently 242 properties for sale which is about a 27 month supply. The lots currently on the market have an average days on market of 347.
View the 2018 Market Trends Report.
View the 2017 Market Trends Report,