2019 Fauquier Market Trends Report - Cheri Woodard Realty

Rappahannock County – Fauquier County – Madison County – Culpeper County

5 Year Sales Trends for the Heart of the Piedmont

In 2019 the number of residential, land and farm real estate transactions in the Heart of the Piedmont was up 9% compared to the prior year. 2,476 properties sold in 2019 compared to 2,267 properties in 2018. The total dollar value of real estate sales increased by 15% with $990,934,314 sold in 2019 and $858,252,289 sold in 2018.

The number of residential transactions increased by 10% in 2019. On a county by county basis, Rappahannock, Fauquier, Madison and Culpeper transactions increased by 11%, 17%, 8% and 11% respectively.

Land & Farm transactions decreased by 19% in 2019. On a county by county basis, Rappahannock, Fauquier, Madison and Culpeper decreased 24%, 21%, 16% and 14% respectively.

Fauquier Home Sales

KEY RESIDENTIAL MARKET INDICATORS

	NUMBER OF TRANSACTIONS	There were 1,206 transactions in 2019 compared to 1,028 in 2018, an increase of 17%.
	AVERAGE HOME SALES PRICE	The average home sales price increased 7% to $468,029 from $437,798.
	AVERAGE DAYS ON MARKET	Average days on market for properties sold was 66 compared to 77, a decrease of 14%.
	ACTIVE RESIDENTIAL LISTINGS	There was a monthly average of 618 homes on the market in 2019 compared to 492 in 2018, an increase of 26%.
	SALES PRICE TO LIST PRICE	On average, homes sold for 97% of the list price as compared to 98%, a decrease of 1%.

In the 4th quarter of 2019, 272 properties sold as compared to 205 properties in the 4th quarter of 2018. All segments except for the under $250,000 segment increased.

There are currently 391 residential properties for sale which is about a 4 month supply. The active listings have an average days on market of 145. The average list price of homes currently on the market is $1,015,485.

2018 RESIDENTIAL TRANSACTIONS 2019 RESIDENTIAL TRANSACTIONS

Fauquier Land & Farm Sales

KEY LAND AND FARM MARKET INDICATORS

	NUMBER OF TRANSACTIONS	There were 132 transactions in 2019 compared to 168 in 2018, a decrease of 21%.
	AVERAGE PRICE PER ACRE	The price per acre for raw land over 25 acres decreased 10% to $7,921 from $7,101.
	AVERAGE DAYS ON MARKET	Average days on market for properties sold was 269 compared to 223, an increase of 21%.
	ACTIVE LAND LISTINGS	There was an average of 256 properties on the market every month compared to 272 in 2018.
	SALES PRICE TO LIST PRICE	Land and farms sold for 90% of the list price as compared to 92% in 2018, a decrease of 2%.

Thirty-two properties sold in the 4th quarter of 2019 compared to 35 properties in the 4th quarter of 2018. There are currently 193 properties for sale which is about a 15 month supply.

The properties currently on the market have an average days on market of 295.

2018 LAND & FARM TRANSACTIONS BY ACREAGE