2019 Rappahannock 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.

Rappahannock Home Sales

KEY RESIDENTIAL MARKET INDICATORS

NUMBER OF TRANSACTIONS There were 99 transactions in 2019 compared 89 in 2018, an increase of 11%.
 AVERAGE HOME SALES PRICE The average home sales price decreased 1% to $405,320 from $408,133.
AVERAGE DAYS ON MARKET Average days on market for properties sold was 133 compared to 204, a decrease of 35%.
ACTIVE RESIDENTIAL LISTINGS There was a monthly average of 91 homes on the market in 2019 compared to 84 in 2018, an increase of 8%.
SALES PRICE TO LIST PRICE On average, homes sold for 96% of the list price as compared to 94%, an increase of 2%.

Twenty-one properties sold in the 4th quarter of 2019 as compared to 22 properties in the 4th quarter of 2018. With such small numbers it is difficult to draw meaningful trends.

There are currently 63 residential properties for sale which is about a 9 month supply. The homes currently on the market have an average days on market of 238. The average list price of residential listings is $960,852.

       2018 RESIDENTIAL TRANSACTIONS                                                          2019 RESIDENTIAL TRANSACTIONS 

                                   

Rappahannock Land & Farm Sales

KEY LAND AND FARM MARKET INDICATORS

NUMBER OF TRANSACTIONS There were 26 transactions in 2019 compared to 34 in 2018, a decrease of 24%.
 AVERAGE PRICE  PER ACRE The price per acre for raw land over 25 acres decreased 1% to $6,370 from $6,313.
AVERAGE DAYS ON MARKET Average days on market for properties sold was 237 compared to 359, a decrease of 34%.
ACTIVE LAND & FARM LISTINGS There was an average of 73 properties on the market every month compared to 77 in 2018.
SALES PRICE TO LIST PRICE Land and farms sold for 94% of the list price as compared to 91% in 2018, an increase of 3%.

 

There were 7 land and farm transactions in the fourth quarter of 2019 compared to 10 in the fourth quarter of 2018.

There are currently 60 lots for sale, which is about a 19 month supply. The average days on market for the current lots on the market is 349 days.

  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 CountyCulpeper County