January—March 2021 compared to January—March 2020
Rappahannock County – Fauquier County – Madison County – Culpeper County
KEY RESIDENTIAL MARKET INDICATORS
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NUMBER OF TRANSACTIONS | There were 34 transactions in 2020 compared to 38 in 2021, a decrease of 11%. |
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AVERAGE HOME SALES PRICE | The average home sales price increased 5% to $362,080 from $343,572. |
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AVERAGE DAYS ON MARKET | Average days on market for properties sold was 66 compared to 158, a decrease of 58%. |
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ACTIVE RESIDENTIAL LISTINGS | There was a monthly average of 64 homes on the market in 2021 compared to 69 in 2020, a decrease of 8%. |
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SALES PRICE TO LIST PRICE | On average, homes sold for 97% of the list price as compared to 92%, an increase of 5%.
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There are currently 74 residential properties for sale which is about an 8-month supply. The active listings have an average days on market of 83. The average list price of homes currently on the market is $535,843. Year to date, homes sold for an average of 2.6% below the list price.
| 2020 RESIDENTIAL TRANSACTIONS BY PRICE CATEGORY | 2021 RESIDENTIAL TRANSACTIONS BY PRICE CATEGORY |
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Madison Land & Farm Sales
2021 COMPARED TO 2020
KEY LAND AND FARM MARKET INDICATORS
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NUMBER OF TRANSACTIONS | There were 53 transactions in 2021 compared to 16 in 2020, an increase of 231%. |
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AVERAGE PRICE PER ACRE | The price per acre for raw land over 25 acres increased 47% from $4,384 to $6,460. |
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AVERAGE DAYS ON MARKET | Average days on market for properties sold was 312 compared to 285, an increase of 9%. |
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ACTIVE LAND LISTINGS | There was an average of 103 properties on the market every month compared to 121 in 2020. |
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SALES PRICE TO LIST PRICE | Land and farms sold for 96% of the list price as compared to 86% in 2020, an increase of 12%. |
There are currently 85 properties for sale which is about a 22-month supply. The properties currently on the market have an average days on market of 595.
| 2020 LAND & FARM TRANSACTIONS BY ACREAGE | 2021 LAND & FARM TRANSACTIONS BY ACREAGE |
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