The Long & Foster Market Minute

Focus On: Rappahannock County Housing Market September 2021

Units Sold
11
Active Inventory
36
Median Sale Price
$650,000
Days On Market
200
Down
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 11%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in September, with 11 sold this month in Rappahannock County Real Estate. This month's total units sold was lower than at this time last year, a decrease from September 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 8 units or 18%. The total number of active inventory this September was 36 compared to 44 in September 2020. This month's total of 36 is lower than the previous month's total supply of available inventory of 38, a decrease of 5%.

Median Sale Price
Last September, the median sale price for Rappahannock County Homes was $586,150. This September, the median sale price was $650,000, an increase of 11% or $63,850 compared to last year. The current median sold price is 7% higher than in August.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
20
Current Contracts
18
Sold Vs. List Price
90.4%
Months of Supply
3.3
Down -13%
Vs. Year Ago
Down -10%
Vs. Year Ago
Down
Vs. Year Ago
Down -11%
Vs. Year Ago

Months of Supply
In September, there was 3.3 months of supply available in Rappahannock County, compared to 3.7 in September 2020. That is a decrease of 11% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 20 homes newly listed for sale in Rappahannock County compared to 23 in September 2020, a decrease of 13%. There were 18 current contracts pending sale this September compared to 20 a year ago. The number of current contracts is 10% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Rappahannock County was 90.4% of the average list price, which is lower than at this time last year.

Days on Market
This month, the average number of days on market was 200, higher than the average last year, which was 100. This increase was impacted by the limited number of sales.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.