These sales figures are for the four counties of the Northern Neck as well as Essex and Middlesex counties (Middle Peninsula properties). I've added the $/sq.ft. since some people are interested in these numbers. I find them particularly difficult to use when we look at properties that are rural. You aren't compensating for more acreage, or more water depth or a better view or a myriad of other things that affect value. Far easier to apply this to urban locations where it is more apples to apples, even if some adjustments might need to be made. So take these numbers ($/sq.ft.) with a grain of salt.
Sales 1/1 through 9/21 waterfront residential $400,000 to $500,000
| |
2012 |
2013 |
2014 |
2015 |
2016 |
Active |
| #sold |
25 |
33 |
33 |
28 |
37 |
84 |
| $ sold (millions) |
10.6 |
13.3 |
14.3 |
12.4 |
15.8 |
38.6 |
| median sales price |
430,000 |
415,000 |
430,000 |
436,000 |
425,000 |
450,000 |
| median days on market |
151 |
335 |
163 |
154.5 |
242 |
156 |
| median $/sqft |
226.82 |
195.40 |
207.92 |
181.50 |
199.28 |
195 |
Improved number of sales this year. Improved dollars. Slightly lower median sales price and a considerable uptick in median days on market for the 2016 sales.
Sales 1/1 through 9/21 waterfront residential $500,000 to $600,000
| |
2012 |
2013 |
2014 |
2015 |
2016 |
Active |
| #sold |
23 |
18 |
14 |
27 |
19 |
64 |
| $ sold (millions) |
11.9 |
9.4 |
7.2 |
14.0 |
10.0 |
36.4 |
| median sales price |
520,000 |
525,000 |
524,000 |
515,000 |
528,000 |
572,500 |
| median days on market |
172 |
185 |
345,5 |
312 |
202 |
160.5 |
| median $/sqft |
219.90 |
218.50 |
226.50 |
217.31 |
214.88 |
207.50 |
Considerable drop in sales this year versus last year. Better than 2013 or 2014 though. A real drop in the median days on market for this year. That's a plus. A bit more inventory that is available in relationship to the current solds.
Sales 1/1 through 9/21 waterfront residential $600,000 to $700,000
| |
2012 |
2013 |
2014 |
2015 |
2016 |
Active |
| #sold |
10 |
11 |
14 |
15 |
21 |
39 |
| $ sold (millions) |
6.0 |
6.7 |
8.8 |
9.3 |
13.2 |
26.1 |
| median sales price |
592,500 |
625,000 |
643,000 |
612,000 |
625,000 |
673,000 |
| median days on market |
98 |
188 |
201 |
249 |
305 |
177 |
| median $/sqft |
285.00 |
264.00 |
239.50 |
221.48 |
195.80 |
193.36 |
This is the healthiest segment of these three price points we're looking at here. Slightly more than double the sales of 2012 have occured seen in 2016. More than double the dollars in 2016 versus 2012. A considerable uptick from 2015 in numbers sold and dollars sold. An increase in median sales price in 2016. A really notable number is the very long median days on market for the solds thus far this year. Must say that there's a lot that's been on the market that the price has come down to the point that it has sold. Interesting.
