2019 Madison Market Trends Report

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