Having looked at the inventory of $300,000 to $500,000 waterfront properties for the Fones Cliffs discussion, I thought, well let's look at all waterfront in a county by county way. That is what I did on October 13. So the numbers below are for all sold and then all active county by county.
In Westmoreland county there were 39 residences (WF) sold by mid October of this year. There are 85 active. That gives us a 2.17 multiple.
Northumberland county had 82 residences (WF) sold with 242 active and a multiple of 2.95 actives to solds.
Lancaster county, 66 sold, 175 active and a multiple of 2.65.
Richmond county, 7 sold, 6 active and a multiple of 0.857.
All the counties except for Richmond have a two to three year set of inventory available to purchase (actives). Richmond county that has very few properties for sale doesn't even have a full years' worth of inventory available as an active.
Looking at this you can see that these counties are very different in their selling situation and inventory. So there are different dynamics in different locations. And lots of factors come into play. Some want to be exclusively on the Potomac or the Rappahannock River in order to have access to friends. Some want to be within a given driving distance of a big city and that reduces the locations they will look at. Obviously price is always a factor. I do think this is interesting though, for some feel as if Westmoreland county has a lot of listings but relative to Northumberland and Lancaster there are far fewer listings and far fewer solds.
On one other note, if you would like to get an overview of the Fones Cliffs controversy, it was on Page 1 of the Richmond Times Dispatch this past Saturday, the 17th of October. I bet you can pull it up that way. Do keep in mind that much as the history and the environment and the eagles seems to be the biggest story, there's another side. I believe that people will not want to spend that sort of money for property where you don't have easy water access--that you could spend the same money for a true waterfront home is key to the fact that Fones Cliffs is not an appropriate form of development...at least not at this time.