2020 Rappahannock County Market Trends Report

Rappahannock County – Fauquier County  – Madison County – Culpeper County

KEY RESIDENTIAL MARKET INDICATORS

NUMBER OF TRANSACTIONS There were 134 transactions in 2020 compared to 99 in 2019, an increase of 35%.
 AVERAGE HOME SALES PRICE The average home sales price increased 23% to $499,376 from $405,320.
AVERAGE DAYS ON MARKET Average days on market for properties sold was 101 compared to 133, a decrease of 22%.
ACTIVE RESIDENTIAL LISTINGS There was a monthly average of 81 homes on the market in 2020 compared to 94 in 2019, a decrease of 14%.
SALES PRICE TO LIST PRICE On average, homes sold for 96.5% of the list price as compared to 96.2%, an increase of 0.3%.

Forty seven properties sold in the 4th quarter of 2020 as compared to 21 properties in the 4th quarter of 2019.

There are currently 47 residential properties for sale which is about a seven month supply. It is worth noting that 30% of the available inventory (14 properties) are currently under contract. The homes currently on the market have an average days on market of 169. The average list price of residential listings is $1,180,185.

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

Rappahannock Land & Farm Sales

2020 COMPARED TO 2019

KEY LAND AND FARM MARKET INDICATORS

NUMBER OF TRANSACTIONS There were 49 transactions in 2020 compared to 26 in 2019, an increase of 88%.
 AVERAGE PRICE  PER ACRE The price per acre for raw land over 25 acres decreased 7% from $6,313 to $5,891.
AVERAGE DAYS ON MARKET Average days on market for properties sold was 183 compared to 237, a decrease of 23%.
ACTIVE LAND LISTINGS There was an average of 70 properties on the market every month in 2020 compared to 74 in 2019.
SALES PRICE TO LIST PRICE Land and farms sold for 93% of the list price as compared to 94% in 2019, a decrease of 1%.

There were 14 land and farm transactions in the 4th quarter of 2020 compared to 7 in the 4th quarter of 2019.

There are currently 60 lots for sale, which is about an 19 month supply. The average days on market for the current lots on the market is 350 days.​

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 CountyCulpeper County