Q1-2018 Fauquier Market Trends Report

Rappahannock County – Fauquier County  – Madison CountyCulpeper County

The number of real estate transactions in the Heart of the Piedmont (Rappahannock, Fauquier, Culpeper, Madison) increased 4% for the first quarter of 2018 as compared to the first quarter of 2017. Both residential and land transactions increased in the quarter.

Fauquier was the only county that had consistent growth with an increase of 31% in land transactions and 13% in the number of home sales. Rappahannock was the slowest with land transactions decreasing 42% and residential transactions decreasing 19% for the first quarter.  In Madison County, land transactions increased 18% while the number of home sales decreased 21%. In Culpeper, land transactions were decreased 10% while the number of home sales were up 1%.

Home Sales

202 residential properties sold in the first quarter of 2018 as compared to 179 for the same period last year. For the quarter, homes priced under $250,000 were down 15% while all other segments were up. The largest growth was in homes priced between $500,000 – $1,000,000 which was increased 70%.

On average, homes are selling 2% below list price. There are currently 560 homes for sale in Fauquier County which is about a six-month supply. The average list price is $813,968 with an average of 130 days on market.

Land Sales

Land sales were up 31% for the quarter; 38 lots sold this year compared to 29 last year.

Over the last 5 years, about 102 lots sell each year in Fauquier. There are currently 213 lots on the market, which is about a 2-year supply.

Click Here to view a complete list of everything sold in January – March 2018. Please note: this includes commercial and multi-family property sales.

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

Review the 2017 Market Trends Report for Fauquier

All data is reported from MRIS. Any transactions not closed through MRIS are not included here.