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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1st quarter residential Northern Neck sales 2016
Just confirming what we pretty much already knew from the last check of sales data. Although we may be ahead in numbers of residential property sales, we do lag behind in terms of dollars. You'll see. 

This is just a bit of information for the four counties of the Northern Neck—Richmond, Westmoreland, Northumberland and Lancaster. First are the total numbers (all residential). The second chart shows waterfront residential sales as a subset. Then I have a couple of numbers for waterfront solds up to $500,000 and over $500,000. Does sort of sum up where we are.

All residential sales 1/1 to 3/31
  2015 2016
# sold 91 94
$ sold (millions) 28.2 24.9
Median sales price 330,000 180,000
Median days on market 230 230

2016 has more sales, lesser dollars and much lower median sales price. Ironically or rather coincidentally there are the same median days on market.

Waterfront residential sales (subset) 1/1 to 3/31
  2015 2016
# sold 44 41
$ sold (millions) 22.9 17.9
Median sales price 408,500 339,000
Median days on market 237 261

Fewer numbers of houses sold in 2016 in the waterfront category when compared with 2015. Fewer dollars and considerably lower median sales price. An increased median days on market number.

And in the category of "just because" here are the numbers of sales of waterfront properties up to $500,000 in 2016. A total of 27 have sold with a dollar value of $7.64 million. Compare that 27 sold for the first quarter of 2016 with the number active--227. That's a pretty big difference.

Then looking at the over $500,000 listings, there have been 14 sold to the tune of $10.3 million and 175 are active on the market. Another slight difference.

We're moving along and perhaps sales are flat in relationship to 2015. 2015 was the best year we experienced since the aftermath of 2008. Let's hope that 2016 does improve on last year. Time will tell.



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