Welcome to the New RealTown! Submit Feedback
Member Login | Join RealTown
The Real Estate Network

Piedmont Real Estate Blog

Blog by Julie Emery
Amissville, Virginia

An ongoing dialog on real estate news, opinion and trends in Northern Virginia and the greater Piedmont area. Julie is an Associate Broker at Century 21 New Millennium, 5451 Old Alexandria Turnpike, Warrenton, VA 20187

Subscribe

Your E-mail Address:
Subscribe to:

Recent Comments

RE: Tax Credit Local Impact
 Let's not forget the interest rate factor. D...
RE: Foreclosures Frozen
Going out and learning the inventory is key. Even...
RE: Let it Expire
 Please dont hope for this to expire. My fian...
RE: What if That's All There Is?
Never walk away from equity...
RE: Finding a Good Contractor
Finding the best contractor is always a big proble...

Site Feed

RSS Feed

Piedmont Real Estate Blog

Rappahannock County Growth

Nov. 28, 2007
Categorized in: Rappahannock County

There's an article on the Times Community Newspaper's web site regarding Rappahannock County and growth, or rather, the lack thereof.

It's an interesting piece and it makes a good place to jump off to a discussion about why the real estate market is so different in Rappahannock County.

While this county has also seen a slowing in the market, the effect is more muted here. Since there was never quite the "boom" you saw in surrounding counties, there's not likely to be the same level of downturn here either.

As this article points out, while Culpeper was the fastest growing county in the region with Madison and Fauquier not far behind, statistics suggest that the population growth in Rappahannock County is actually negative. While John McCarthy points to a small increase in population, what I've seen suggests that most of those additional people are weekenders and not full time residents. I don't believe there are any numbers available on the percentage of the population that are full time residents vs weekenders, but I suspect that the trend is for more part-timers.

All of which contributes to a very different real estate market. Average days on market can often be longer in Rappahannock County. But you see less variation over all. The prices are a little less "squishy" than in surrounding areas. There's less elasticity of demand, in part, because people who are selling second homes rarely feel the same pressure for a quick sale that someone does who's selling their primary dwelling. Most people don't have to sell in a hurry so they can get to the next house, job, etc.

Meanwhile, the debate about growth does continue in Rappahannock County. But John McCarthy is right in that no one is looking to turn this into the next Culpeper in terms of growth!