Rappahannock County – Fauquier County – Madison County – Culpeper County
The number of real estate transactions in the Heart of the Piedmont (Rappahannock, Fauquier, Culpeper, Madison) were down 5% for the third quarter of 2017 as compared to the third quarter of 2016. Both residential and land transactions were down for the quarter.
In Rappahannock, land transactions were up 25% and residential transactions were down 8% for the third quarter. In Fauquier, land sales were down 27%, and home sales were down 1%. Madison had the largest slow down with land and home transactions down 33% and 35% respectively. In Culpeper, land transactions were up 13% while home sales were flat. Year to date, sales in the Heart of the Piedmont are flat compared to the first three quarters of 2016.
Culpeper Home Sales
For the 3rd quarter of 2017, residential sales were the same as the 3rd quarter of 2016; 214 properties sold in in both periods. All of the growth is in the middle market segments ($250,000 – $1,000,000). There have been no sales over $1,000,000 which is consistent with Culpeper County historical trends.
Year to date, Culpeper is up 2%.
On average, homes are selling 2% below list price. There are currently 387 homes for sale in Culpeper County which is about a seven-month supply. The current average list price is $366,013 with an average of 128 days on market.
Culpeper Land Sales
For the third quarter, 17 lots sold in Culpeper as compared to 15 in the third quarter of 2016. Year to date, Culpeper land sales are 18% ahead of last year.
On average, about 70 lots sell each year in Culpeper. There are currently 197 lots on the market, which is about a three-year supply.
Click Here to view a complete list of everything sold from July – September 2017. Please note: this includes commercial and multi-family property sales.
Review other Market Trends Reports: Rappahannock County – Fauquier County – Madison County
Review the Q2 2017 Market Trends Report for Culpeper
