2020 Madison Market Trends Report

Rappahannock CountyFauquier County  – Madison CountyCulpeper County

KEY RESIDENTIAL MARKET INDICATORS

NUMBER OF TRANSACTIONS There were 147 transactions in 2020 compared to 125 in 2019, an increase of 18%.
 AVERAGE HOME SALES PRICE The average home sales price increased 16% to $315,821 from $273,199.
AVERAGE DAYS ON MARKET Average days on market for properties sold was 75 compared to 91, a decrease of 18%.
ACTIVE RESIDENTIAL LISTINGS There was a monthly average of 69 homes on the market in 2020 compared to 76 in 2019, a decrease of 10%.
SALES PRICE TO LIST PRICE On average, homes sold for 97.2% of the list price as compared to 96.5%, an increase of 0.7%.

Forty-seven homes sold in the 4th quarter of 2020 compared to 30 in the 4th quarter of 2019.

There are currently 45 residential properties for sale which is about a five month supply. The active listings have an average days on market of 150. The average list price of homes currently on the market is $491,026. Year to date, homes sold for an average of 2.8% below the list price.

2019 RESIDENTIAL TRANSACTIONS BY PRICE CATEGORY 2020 RESIDENTIAL TRANSACTIONS BY PRICE CATEGORY
 

Madison Land & Farm Sales

2020 COMPARED TO 2019

KEY LAND AND FARM MARKET INDICATORS

NUMBER OF TRANSACTIONS There were 70 transactions in 2020 compared to 48 in 2019, an increase of 46%.
 AVERAGE PRICE  PER ACRE The price per acre for raw land over 25 acres decreased 2% from $4,792 to $4,719.
AVERAGE DAYS ON MARKET Average days on market for properties sold was 265 compared to 396, a decrease of 33%.
ACTIVE LAND LISTINGS There was an average of 113 properties on the market every month in 2020 compared to 125 in 2019.
SALES PRICE TO LIST PRICE Land and farms sold for 90.4% of the list price as compared to 90.7% in 2019.

Twenty-one properties sold in the 4th quarter of 2020 compared to six properties in the 4th quarter of 2019.

There are currently 95 properties for sale which is about a 24-month supply. The properties currently on the market have an average days on market of 540.

2019 LAND & FARM TRANSACTIONS BY ACREAGE    2020 LAND & FARM TRANSACTIONS BY ACREAGE   
 

View the entire 2020 Market Trends Report.

View the 2019 Market Trends Report.

View the 2018 Market Trends Report.

Review other Market Trends Reports: Rappahannock County – Fauquier County  – Madison County – Culpeper County