Q2-2017 Madison Market Trends Report

Rappahannock CountyFauquier County – Madison County – Culpeper County

Real estate transactions in the Heart of the Piedmont (Rappahannock, Fauquier, Culpeper, Madison) were virtually flat (down ½%) for the second quarter of 2017 as compared to the second quarter of 2016. Unlike the first quarter, the growth was entirely in residential transactions which increased by 2%. Land transactions were down 21% for the quarter while commercial transactions were down 50%.  Year to date, the overall market is up 2%.  

Rappahannock continued its strong year with land transactions up 25% and residential transactions up 115% for the second quarter.  In Fauquier, land sales were down 17%, but home sales were up 4%.  Madison had the largest slow down with land and home transactions down 42% and 37% respectively.  In Culpeper, land transactions were down 33%, but home sales were up 3%. Activity remains quite strong in our office and we expect that the strong sales will continue into the third quarter.

Madison Home Sales

34 residential properties sold in the second quarter of 2017 as compared to 52 last year.  Madison had two sales over $1,000,000.  


On average, homes are selling 4% below list price.  There are currently 99 homes for sale in Madison County which is about a one year supply.  The average list price is $597,111 with an average of 202 days on market.  This high average list price is driven by several properties that are listed at over $2,500,000 each.  

Madison Land Sales

Seven parcels sold in the second quarter of 2017 as compared to 12 last year.  On average, about 29 lots sell each year in Madison.  There are currently 112 lots on the market, which is more than a three-year supply.  

Click Here to view a complete list of everything sold April – June 2017.  Please note: this includes commercial and multi-family property sales.

Review other Market Trends Reports: Rappahannock CountyFauquier CountyCulpeper County

Review the Q1 2017 Market Trends Report for Madison