Is Rappahannock County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Rappahannock County was a Buyer's Market.
Key Takeaway
Rappahannock County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rappahannock County, VA
How much do homes in Rappahannock County, VA cost?
Median Sold Price
$769,900
$291/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Rappahannock County have sold for 33.6% less than they did a month ago.
Summary: The median home sold price in Rappahannock County was $769,900 in March 2024, down 33.6% from last month, and the median price per square foot was $291.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $64.5K | N/A |
| 3 Bedrooms | - | $550K | N/A |
| 4 Bedrooms | - | $3.5M | N/A |
| 5+ Bedrooms | $1.1M | $1.6M | +38.8% |
Summary: Rappahannock County housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes increased by 38.8%.
Housing Supply in Rappahannock County, VA
How many homes are available in Rappahannock County, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 35 | 37 | +5.7% |
Summary: The Rappahannock County real estate market had 37 homes for sale in March 2024, a 5.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 17 | 19 | +11.8% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Rappahannock County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 11.8%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 9 | +800.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rappahannock County, expect to pay close to the asking price. 44.4% of homes here sold near the asking price last month.
Summary: A total of 9 homes were sold or pending in Rappahannock County in March 2024, up by 800.0% month-over-month. Of the 9 sold homes, 22% were sold under asking, 44% were sold at asking, and 33% 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
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 48 Days | 104 Days | +117.4% |
Summary: Homes in Rappahannock County had an average of 104 days on market in Mar 2024, up by 117.4% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Rappahannock County are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 9 homes were sold in Rappahannock County; 11% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 56% 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.