The Middleburg, Virginia Market Report

MARKET REPORT

The State of the Market

As we reflect on the year ending 2023, 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 from 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 Middleburg, Virginia and more modest townhomes and single family homes, including bungalows, ranchers, and craftsman style homes from the mid-1900s as well as more classic homes reminiscent of the colonial and federal styles of Virginia’s past.

The most expensive home sold in Middleburg, Virginia for the year ending 2023 was Wind Fields Farm a historic Colonial style estate on Snickersville Turnpike. Originally built in the late 1700s, Wind Fields Farm sits on over 140 acres and is anchored by a meticulously restored Colonial residence with nearly 7,000 square feet of interior living space — including 8 bedrooms, 9 full bathrooms, and 9 fireplaces. The home sold for $6,825,000 in January 2023 after 96 days on the market. Just down the road on the Snickersville Turnpike, the Spring Glade estate sold in February 2023 for $4,950,000.

For those seeking to find your next home in Middleburg, Virginia, your options are somewhat limited — for the year ending 2023, there were only 41 total residential sales.

For larger estates and country homes with significant acreage — anything over 20 acres — the average price per square foot was $880.53 and the average sales price was $3.40 Million.

For more conventional single family homes located in town — single family homes with lots under 1 acre — the average price per square foot drops to $438.70 with an average sale price of $897,900.

“The real estate market in Middleburg, Virginia is small but dynamic,” says Byron V Hughey, Vice President at TTR Sotheby’s International Realty in The Plains, Virginia.

“On one end, you have fabulous rural estates with significant acreage. While you won’t see many trade each year, these estates are coveted for those who aspire for the quintessential country living experience. On the other end of the spectrum, in neighborhoods like Ridgeview, you have more modest single family homes that are perhaps more typical of the housing stock you would find in post war suburbs throughout the Mid-Atlantic.”

For those seeking a new construction homes in Middleburg, Virginia, options are few and far between. Due to its small geographic footprint, limited availability of raw land, and relatively strict guidelines for residential construction within the Middleburg Historic District, there were no new construction sales in Middleburg, Virginia for the year ending 2023. However, while new construction home sales in 2023 were low, the year did mark the beginning of sales at Residences at Salamander and Banbury Cross Reserve, located just beyond Town on the way to nearby Aldie, Virginia.

One of the premier country destinations in the United States — with significant acreage under conservation easement — raw land in Middleburg, Virginia is coveted and rarely available, with only 7 land sales recorded for the year ending 2023. The average price per acre for land in Middleburg, Virginia for the year ending 2023 was $99,329.