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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Residential overview update

Here are the numbers for January 1 through October 8 for the respective years. It was a bit difficult to get this information yesterday since the cloud cover was sufficient that my little wifi device seemed to take FOREVER. For that reason there is only residential information here. I'll update land tomorrow morning when I will be back in full swing....for the moment I just want to do a bit of catch up and then turn off the computer.....half a day a week seems reasonable (and there's always my phone to double check if need be.)

Here we are starting in on the fourth quarter. And here we are really looking at a year that probably should be seen as quite similar to 2015. You decide since we have more sales, but not significantly more dollars.

Residential sales, 4 counties, 1/1 through 10/8
  2012 2013 2014 2015 2016 all 2016 $500,000+ Active all Active $500,000+
# sold 277 308 335 369 409 55 725 180
$ sold (millions) 77.0 90.4 91.6 112.6 113.5 37.5 300.9 158.4
Median sales price 226,000 222,950 199,999 243,000 230,000 625,000 327,000 699,000
Median days on market 175 211 201 187 192 264 172 217

Other than looking at the numbers sold in 2016 and the dollars sold and seeing that it is a similar market to 2015 (lthough more skewed to lower priced houses in 2016).....what interests me most is tha the over $500,000 properties, has a median sales price of $625,000. Also, that the over $500,000 group has a significantly longer period of time before the property sells.

People approach me all the time and ask "isn't the market getting better....looks like it's getting better...." As you can see, that isn't a simple question and there isn't a simple answer. As we've looked at before, in certain price segments the answer is decidedly, yes. In others the answer is really, no. Just not simple.



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