Here we are in the midst of serious summer. This hot weather is hot!! And all that peculiar cloudy, cool of Sunday and Monday of 4th of July weekend is a distant memory.
The numbers we found today seem to support what we've been seeing all along. Land sales are down. And inventory is very high. Take a look at how we stand as of today!
Sales in the four counties of the Northern Neck, Lancaster, Northumberland, Westmoreland and Richmond. This is for the timeframe January 1 through July 8th for the respective years.
2014 76 sales of all types of land, value $9.9 million
33 of those sales were waterfront land, value $7.1 million
2015 68 sales of all types of land, value $6.4 million
26 sales of waterfront land, value $3.7 million
2016 49 sales of all types of land, value $5.8 million
15 sales of waterfront land, value $2.6 million
Active properties 960 with a value of $141.7 million (all land)
463 waterfront land with a value of $111.2 million
I added the colors above to make it easier to look at each year within each category. For instance with waterfront land there were 33 sales in 2014, 26 sales in 2015 and now in 2016 there are 15 sales. Not a large amount of sales....and 463 active properties that are waterfront land.