Rappahannock County – Fauquier County –Madison County – Culpeper County
Through June 2020 the number of real estate transactions in the Heart of the Piedmont increased 1%
compared to the prior year with 1,213 properties selling in 2020 while 1,205 properties sold in the same time
period in 2019. The total dollar value of real estate sales increased by 9% with $515 million sold in 2020 and
$474 million sold in 2019.
Residential transactions increased in numbers by 1%. On a county by county basis, Fauquier and
Rappahannock were up 3% and 2% respectively while Culpeper and Madison declined by 1% and 10%. Land & Farm transactions decreased by 3%. On a county by county basis, Rappahannock was up 67% while Culpeper, Fauquier and Madison decreased by 2%, 7% and 20% respectively.
KEY RESIDENTIAL MARKET INDICATORS
 |
NUMBER OF TRANSACTIONS | There were 365 transactions in 2020 compared to 358 in 2019, a decrease of 0.6%. |
 |
AVERAGE HOME SALES PRICE | The average home sales price increased 11% from $315,975 to $349,924. |
|
AVERAGE DAYS ON MARKET | Average days on market for properties sold was 73 compared to 89, a decrease of 17%. |
|
ACTIVE RESIDENTIAL LISTINGS | There was a monthly average of 301 homes on the market in 2020 compared to 451 in 2019, a decrease of 33%. |
 |
SALES PRICE TO LIST PRICE | On average, homes sold for 99% of the list price. |
In the 2nd quarter of 2020, 194 properties sold as compared to 229 properties in the 2nd quarter of 2019.
There are currently 275 residential properties for sale which is about a 5 month supply. The active listings
have an average days on market of 87. The average list price of homes currently on the market is $406,804.
| 2019 RESIDENTIAL TRANSACTIONS | 2020 RESIDENTIAL TRANSACTIONS |
 |
|
Culpeper Land & Farm Sales
KEY LAND AND FARM MARKET INDICATORS
|
NUMBER OF TRANSACTIONS | There were 44 transactions in 2020 compared to 45 in 2019, a decrease of 2%. |
|
AVERAGE PRICE PER ACRE | The price per acre for raw land over 25 acres decreased 1% from $5,111 to $5,083. |
|
AVERAGE DAYS ON MARKET | Average days on market for properties sold was 198 compared to 255, a decrease of 22%. |
|
ACTIVE LAND LISTINGS | There was an average of 198 properties on the market in 2020 compared to 233 in 2019. |
|
SALES PRICE TO LIST PRICE | Land and farms sold for 90% of the list price as compared to 93% in 2019, a decrease of 3%. |
| Q2 2019 LAND & FARM TRANSACTIONS BY ACREAGE | Q2 2020 LAND & FARM TRANSACTIONS BY ACREAGE |
 |
 |
View the 2019 Market Trends Report.
View the 2018 Market Trends Report.
View the 2017 Market Trends Report
Review other Market Trends Reports: Rappahannock County – Fauquier County – Madison County – Culpeper County