Is Rappahannock County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Rappahannock County was a Seller's Market.
Key Takeaway
Rappahannock County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Rappahannock County, VA
How much do homes in Rappahannock County, VA cost?
Median Sold Price
$525,000
$267/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Rappahannock County have sold for 20.9% less than they did a year ago.
Summary: The median home sold price in Rappahannock County was $525,000 in May 2024, down 20.9% from last year, and the median price per square foot was $267.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $302.5K | N/A |
| 2 Bedrooms | $521.5K | $145K | -72.2% |
| 3 Bedrooms | $500K | $490.4K | -1.9% |
| 4 Bedrooms | $834.9K | $1.3M | +63.1% |
| 5+ Bedrooms | $797.5K | $1.1M | +45.5% |
Summary: Rappahannock County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 72.2%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 63.1%, and 5+ bedroom homes increased by 45.5%.
Median Sold Price Compared To Nearby Counties
| Fauquier County | $519.9K | $593.4K | +14.1% |
| Warren County | $340.3K | $380.4K | +11.8% |
| Culpeper County | $435K | $459.3K | +5.6% |
| Page County | $270K | $275K | +1.9% |
| Rappahannock County | $663.6K | $525K | -20.9% |
Housing Supply in Rappahannock County, VA
How many homes are available in Rappahannock County, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 36 | +38.5% |
Summary: The Rappahannock County real estate market had 36 homes for sale in May 2024, a 38.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 5 | +150.0% |
| 3 Bedrooms | 15 | 17 | +13.3% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 5 | 10 | +100.0% |
Summary: The Rappahannock County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 150%, 3 bedroom homes increased by 13.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rappahannock County, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Rappahannock County in May 2024, the same as the previous month. Of the 4 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Rappahannock County, VA
How long does it take to sell a home in Rappahannock County, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 9 Days | 22 Days | +127.6% |
Summary: Homes in Rappahannock County had an average of 22 days on market in May 2024, up by 127.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rappahannock County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Rappahannock County; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Information is provided by Charlottesville Area Association of Realtors®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information provided is thought to be reliable but is not guaranteed to be accurate; you are advised to verify facts that are important to you. No warranties, expressed or implied, are provided for the data herein, or for their use or interpretation by the user.