River & Rural Realty--Find Virginia Waterfront property on the Northern Neck
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River & Rural Realty LLC
P.O. Box 503
Warsaw, VA 22572

Office: (804) 333-3311

Kathryn Murray, broker
Warsaw, VA 22572
(O): (804) 333-3311
Cell: 804-450-4442
Fax: 877-295-0940
EMAIL OFFICE
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County by county residential sales

Here are residential sales in the Northern Neck, county by county for the time period of January 1 through October 26. I've broken the numbers out into a series of different price points. What you'll also see is that I have x/y under each year. What this stands for is the number that has sold = x and the dollars sold in millions = y. Generally this information shows us that we are holding our own in 2014 and that there are variations as to where the sales are coming in. Lots of under $200,000 is selling.

Essex County All Residential 1/1 to 10/26
  2012 2013 2014 Active
Up to $200,000 32/3.6 33/3.7 37/3.7 31/3.9
$200,000 to $400,000 12/3.4 13/3.4 8/2.1 23/6.7
$400,000 to $600,000 5/2.4 3/1.6 3/1.3 3/1.7
$600,000 plus 0 0 2/1.6 6/6.1

 

Lancaster County All Residential 1/1 to 10/26
  2012 2013 2014 Active
Up to $200,000 30/3.5 36/4.2 41/4.8 92/12.1
$200,000 to $400,000 29/8.3 36/10.3 33/9.0 101/31.8
$400,000 to $600,000 17/8.0 19/7.8 15/7.0 52/26.8
$600,000 plus 11/9.6 21/19.6 20/20.4 82*/81.2

*A subset of the $600,000 plus is the $1 million plus. In that category there have been 6 that sold this year in Lancaster county. Presently there are 19 active.

Interesting that in the under $200,000 category these two counties (Essex and Lancaster) are very similar in their sales. Of course they are very different in their number of actives. For Essex there have been 37 sold with 31 active in this category. For Lancaster there are 41 that have sold with 92 that are currently active. Lots of inventory in Lancaster for this price point.

Westmoreland County All Residential 1/1 to 10/26
  2012 2013 2014 Active
Up to $200,000 42/4.7 48/5.4 56/7.3 64/9.5
$200,000 to $400,000 19/5.1 18/5.0 22/6.4 63/18.8
$400,000 to $600,000 12/5.7 7/3.1 9/3.9 27/13.2
$600,000 plus 1/800,000* 3/1.9 2/1.4 19/14.2

* obviously this is simply $800,000

Improved sales in 2014 over 2013 in all categories except for the $600,000 plus. Not huge differences, but still an improvement.

Northumberland County All Residential 1/1 to 10/26

  2012 2013 2014 Active
Up to $200,000 38/4/7 43/4.8 52/5.9 104/13.3
$200,000 to $400,000 45/12.8 43/12.1 44/12.5 153/46.9
$400,000 to $600,000 22/10.0 22/10.3 18/8.2 54/26.9
$600,000 plus 7/5.4 9/7.0 9/6.7 61/62.8

Lowest two price points improved and upper two price points didn't in 2014. Goes along with what we've been saying...that 2014 is pretty much following 2013 although the distribution of sales is a bit different. Some of these counties have lots of inventory and then Essex and Richmond have far fewer properties in inventory.

Richmond County All Residential 1/1 to 10/26

  2012 2013 2014 Active
Up to $200,000 14/1.6 17/2.0 22/1.8 22/3.1
$200,000 to $400,000 8/2.0 9/2.3 7/1.7 11/3.4
$400,000 to $600,000 0 2/885,000* 1/526,000* 5/2.2
$600,000 plus 0 1/650,000* 0 2/2.2

*obviously these are the actual numbers and not millions

Looking at Richmond county what you can say is "not too much" selling. And I'm sure that relatively speaking there aren't that many properties period in the whole county for sale or not. And think about the contour of Richmond county's waterfront....it is much straighter than the many creeks and rivers that are along the Northumberland or Lancaster coasts. There isn't that much to be had as waterfront in this county and along the river and into the creeks there are still a lot of old farms that aren't going to change their use any time soon. That is really good for those of us who live here since the rural nature continues and there isn't a lot of subdividing going on. At this point with all the waterfront lots available everywhere, there is no financial incentive to divide up property so we will be the thankful beneficiaries of beautiful landscapes of open or farmed land.

 

 



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