5 Year Sales Trends for the Heart of the Piedmont
Rappahannock County – Fauquier County – Madison County – Culpeper County
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.
Madison Home Sales
KEY RESIDENTIAL MARKET INDICATORS
 |
NUMBER OF TRANSACTIONS | There were 125 transactions in 2019 compared to 116 in 2018, an increase of 8%. |
|
AVERAGE HOME SALES PRICE | The average home sales price increased 23% to $273,199 from $222,840. |
 |
AVERAGE DAYS ON MARKET | Average days on market for properties sold was 91 compared to 120, a decrease of 24%. |
|
ACTIVE RESIDENTIAL LISTINGS | There was a monthly average of 74 homes on the market in 2019 compared to 62 in 2018, an increase of 20%. |
 |
SALES PRICE TO LIST PRICE | On average, homes sold for 96.5% of the list price as compared to 96.4% last year. |
Thirty homes sold in the 4th quarter of 2019 compared to 24 in the 4th quarter of 2018.
There are currently 59 residential properties for sale which is about a 6-month supply. The active listings have an average days on market of 143. The average list price of homes currently on the market is $472,590. Madison did have its first residential sale over $1,000,000 since September 2013.
2018 RESIDENTIAL TRANSACTIONS 2019 RESIDENTIAL TRANSACTIONS
Madison Land & Farm Sales
KEY LAND AND FARM MARKET INDICATORS
|
NUMBER OF TRANSACTIONS | There were 48 transactions in 2019 compared to 57 in 2018, a decrease of 16%. |
|
AVERAGE PRICE PER ACRE | The price per acre for raw land over 25 acres increased 13% from $4,248 to $4,792. |
|
AVERAGE DAYS ON MARKET | The average days on market for properties sold was 396 compared to 360, an increase of 10%. |
|
ACTIVE LAND LISTINGS | There was an average of 122 properties on the market every month compared to 139 in 2018. |
|
SALES PRICE TO LIST PRICE | Land sold for 90% of the list price as compared to 91% in 2018, a decrease of 1%. |
Six properties sold in the 4th quarter of 2019 compared to 14 properties in the 4th quarter of 2018.
There are currently 109 properties for sale which is about a 27-month supply. The properties currently on the market have an average days on market of 350.
2018 LAND & FARM TRANSACTIONS BY ACREAGE
2019 LAND & FARM TRANSACTIONS BY ACREAGE
View the 2019 Market Trends Report.
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