Rappahannock County Real Estate Market Updates

The Market seems to be recovering as far as activity and buyers are
making offers and buying. Prices have stabilized somewhat and
properties becoming available seem to reflect the current market,
which is a bit lower than prices from a few years ago. Prices have been
reduced on a number of properties that have been on the market
for some time, although some Sellers have not realized the reduced values yet.

Buyers seem to be reluctant to offer prices actually reflecting the current
market on those properties priced too high, and eventually those Sellers will realize the market has changed. However, a well-constructed offer showing
recent sales and the new assessments can sometimes make a Seller realize
the true value of their property; that they are only going to get what the
market will bear.

Land parcels of 5 acres are bringing in $150-$225,000, ten to fifteen acres
is bringing $250-$300,000, twenty-five acre parcels are in the upper
$200's to high $300's depending upon views, water, etc.

Not all properties are listed and we are in constant contact with Sellers
considering the sale of their property.