January—March 2021 compared to January—March 2020
KEY RESIDENTIAL MARKET INDICATORS
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NUMBER OF TRANSACTIONS | There were 402 transactions in 2021 compared to 362 in 2020, an increase of 11%. |
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AVERAGE HOME SALES PRICE | The average home sales price increased 15% to $401,836 from $350,883. |
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AVERAGE DAYS ON MARKET | Average days on market for properties sold was 23 compared to 72, a decrease of 68%. |
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ACTIVE RESIDENTIAL LISTINGS | There was a monthly average of 211 homes on the market in 2021 compared to 334 in 2020, a decrease of 37%. |
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SALES PRICE TO LIST PRICE | On average, homes sold for 101% of the list price as compared to 99%, an increase of 2%.
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In the 2nd quarter of 2021, 243 properties sold as compared to 198 properties in the 2nd quarter of 2020.
There are currently 273 residential properties for sale which is about a 5 month supply. The active listings have an average days on market of 52. The average list price of homes currently on the market is $480,518.
| 2020 RESIDENTIAL TRANSACTIONS BY PRICE CATEGORY | 2021 RESIDENTIAL TRANSACTIONS BY PRICE CATEGORY |
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Culpeper Land & Farm Sales
2021 COMPARED TO 2020
KEY LAND AND FARM MARKET INDICATORS
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NUMBER OF TRANSACTIONS | There were 107 transactions in 2021 compared to 46 in 2020, an increase of 133%. |
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AVERAGE PRICE PER ACRE | The price per acre for raw land over 25 acres increased 20% from $4,508 to $5,346. |
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AVERAGE DAYS ON MARKET | Average days on market for properties sold was 343 compared to 217, an increase of 58%. |
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ACTIVE LAND LISTINGS | There was an average of 154 properties on the market every month compared to 206 in 2020. |
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SALES PRICE TO LIST PRICE | Land and farms sold for 96.5% of the list price as compared to 89.7% in 2020, an increase of 8%. |
Sixty-one properties sold in the 2nd quarter of 2021 as compared to 25 properties in the 2nd quarter of 2020.
There are currently 145 properties for sale which is about a 19 month supply. The lots currently on the market have an average days on market of 489.
| 2020 LAND & FARM TRANSACTIONS BY ACREAGE | 2021 LAND & FARM TRANSACTIONS BY ACREAGE |
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