Rappahannock County – Fauquier County – Madison County – Culpeper County
KEY RESIDENTIAL MARKET INDICATORS
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NUMBER OF TRANSACTIONS | There were 147 transactions in 2020 compared to 125 in 2019, an increase of 18%. |
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AVERAGE HOME SALES PRICE | The average home sales price increased 16% to $315,821 from $273,199. |
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AVERAGE DAYS ON MARKET | Average days on market for properties sold was 75 compared to 91, a decrease of 18%. |
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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%. |
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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 |
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Madison Land & Farm Sales
2020 COMPARED TO 2019
KEY LAND AND FARM MARKET INDICATORS
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NUMBER OF TRANSACTIONS | There were 70 transactions in 2020 compared to 48 in 2019, an increase of 46%. |
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AVERAGE PRICE PER ACRE | The price per acre for raw land over 25 acres decreased 2% from $4,792 to $4,719. |
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AVERAGE DAYS ON MARKET | Average days on market for properties sold was 265 compared to 396, a decrease of 33%. |
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ACTIVE LAND LISTINGS | There was an average of 113 properties on the market every month in 2020 compared to 125 in 2019. |
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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 |
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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