The Middleburg, Virginia Housing Market Report

MARKET REPORT

The State of the Market

As we reflect on the year ending 2024, the Middleburg, Virginia housing market remains a bell weather for the Mid-Atlantic region’s farm and estate properties.

Due to its desirable rural location just one hour west of Washington, D.C. as well as its limited supply of housing due to its small geographic footprint and deep heritage of land conservation, Middleburg, Virginia is largely characterized by two distinct housing markets: stunning country homes and estates built on significant acreage on the periphery of town and more modest townhomes and single family homes — including bungalows, ranchers, and craftsman style homes from the mid-1900s in town.

The most expensive home sold in Middleburg, Virginia for the year ending 2024 was Bolinvar, a historic equestrian estate on Mountville Road. Originally built in the 1925, Bolinvar sits on over 325 acres and is anchored by a meticulously maintained Georgian manor home with over 9,000 square feet of interior living space. A stone terrace, heated pool, greenhouse, 11 stall courtyard stable, outdoor riding arena, and expertly manicured gardens and lawns are among the home’s numerous amenities. Bolinvar sold for $15,500,000 in November 2024 after 144 days on the market.

In town, on the grounds of the newly constructed Residences at Salamander, 600 Martingale Ridge sold for $3.69 Million in November 2024. As the newest addition to the Middleburg, Virginia housing market, Residences at Salamander represent a significant shift in Middleburg, Virginia’s new construction housing market.

A small town with a population of just 700, Middleburg, Virginia saw only 47 total residential real estate transactions for the year ending 2024.

For larger estates and country homes with significant acreage — anything over 20 acres — the average price per square foot was $853.85 and the average sales price was $4.60 Million.

For more conventional single family homes located in town — single family homes with lots under 1 acre — the average price per square foot was $564.75 with an average sale price of $1.33 Million.

“While more conventional single family homes in Middleburg, Virginia can be found for less than $1 Million, the introduction of new construction inventory at the new Residences at Salamander are pushing prices higher.” says Byron V Hughey, Vice President at TTR Sotheby’s International Realty.

Indeed, for those seeking a new construction homes in Middleburg, Virginia, there are more options than ever. In town, Residences at Salamander offer a selection of 49 new construction homes located on the grounds of the Salamander Resort & Spa. On the outskirts of town, in the enclave of St. Louis, three new construction homes were sold at a more modest price point of roughly $750,000 per unit.

Because of its small geographic footprint, limited availability of raw land, and relatively strict guidelines for residential construction within the Middleburg Historic District, new construction sales in Middleburg, Virginia typically represents only a fraction of total residential sales. However, for the year ending 2024, new construction sales represented roughly 20% of all residential sales.

As the heart of Virginia Hunt Country and one of the premier equestrian destinations in the United States — with significant acreage under conservation easement — raw land in Middleburg, Virginia is coveted and rarely available, with only 4 land sales recorded for the year ending 2024. The average price per acre for land in Middleburg, Virginia for the year ending 2024 was $54,146. a price largely driven by the February 2024 sale of a 252 acre parcel on Champe Ford Road for $2.71 Million.