This will be a work in progress. Obviously it takes time to compile these statistics and then to lay them out here for your review. For that reason today will be up to $500,000 and in a couple more days I'll do probably five more segments and a day or two later I'll finish this off.
These are residential sales and all types are contained in the numbers. No breaking out for waterfront. No breaking out for non waterfront. Everything. The numbers are for January 1 through November 3 for the respective years. This is for the four counties of the Northern Neck, Lancaster, Northumberland, Westmoreland and Richmond. This approach sheds a little more light on our market. And even though I believe the $/sqft is not a very good indicator of anything given the huge variables for each property (acreage, etc... just as a start) it's here for your review. That's it. Here we go for the price points up to $500,000.
Residential sales up to $100,000 (1/1 through 11/3)
| |
2013 |
2014 |
2015 |
2016 |
Active |
| # sold |
53 |
57 |
63 |
63 |
56 |
| $ sold (millions) |
3.2 |
3.5 |
3.9 |
3.8 |
3.8 |
| Median sales price |
62,500 |
63,000 |
65,000 |
63,000 |
69,000 |
| Median days on market |
117 |
184 |
149 |
136 |
165 |
| $/sq.ft |
55.35 |
60.38 |
61.54 |
54.41 |
62.50 |
What do we see here? Well a gradual increase in sales and an improvement dollar-wise. Nothing earth shattering. Reasonable median days on market....all below 200 including the actives. Fewer actives than we have solds for this year. Looks good!
Residential sales $100,000 to $200,000 (1/1 through 11/3)
| |
2013 |
2014 |
2015 |
2016 |
Active |
| # sold |
97 |
124 |
102 |
133 |
152 |
| $ sold (millions) |
14.1 |
17.4 |
14.9 |
19.3 |
23.5 |
| Median sales price |
147,500 |
143,500 |
147,250 |
142,000 |
154,450 |
| Median days on market |
198 |
199 |
154 |
170 |
143.5 |
| $/sq.ft |
103.59 |
103.00 |
99.50 |
97.80 |
101.50 |
Considerable increase in sales this year although you can see that 2014 was a good sales year for this segment and then 2015 the sales dropped off. Certainly the highest number of dollars in 2016 by far in terms of total sales. All median days on market are below 200. Actives are a bit more than the number of solds thus far this year, but still are under 20%. This looks good too!
Residential sales $200,000 to $300,000 (1/1 through 11/3)
| |
2013 |
2014 |
2015 |
2016 |
Active |
| # sold |
64 |
71 |
76 |
101 |
122 |
| $ sold (millions) |
15.3 |
17.2 |
18.3 |
24.5 |
31.7 |
| Median sales price |
236,950 |
245,000 |
241,500 |
247,500 |
262,450 |
| Median days on market |
257 |
286 |
214.5 |
174 |
177.5 |
| $/sq.ft |
135.50 |
150.00 |
146.50 |
150.40 |
144.00 |
Quite a jump in sales for this segment in 2016. This both for numbers of solds and for total dollars. We have the highest median sales price in 2016 as well. Looks like the median days on market are declining with both the days on market for the solds and for the actives at under 200. Not a huge amount of inventory in relationship to the solds....about 20% and we haven't gotten through the year yet. Looks good to me.
Residential sales $300,000 to $400,000 (1/1 through 11/3)
| |
2013 |
2014 |
2015 |
2016 |
Active |
| # sold |
46 |
52 |
68 |
70 |
101 |
| $ sold (millions) |
15.5 |
17.6 |
23.4 |
23.5 |
31.7 |
| Median sales price |
333,250 |
340,000 |
348,500 |
330,000 |
363,000 |
| Median days on market |
245.5 |
191.5 |
212 |
212 |
199 |
| $/sq.ft |
187.00 |
187.00 |
178.00 |
165.50 |
179.55 |
Some improvement in sales for 2016, although not sizable when compared to 2015. Median days on market is 212 for the solds, although 199 for the actives. About 30% more inventory on the market as we have solds for 2016. Not bad really, quite good. Just not quite as strong as the previous segments.
Residential sales $400,000 to $500,000 (1/1 through 11/3)
| |
2013 |
2014 |
2015 |
2016 |
Active |
| # sold |
32 |
32 |
29 |
39 |
84 |
| $ sold (millions) |
12.7 |
13.9 |
12.7 |
16.6 |
38.6 |
| Median sales price |
410,000 |
444,250 |
435,000 |
420,000 |
450,000 |
| Median days on market |
289 |
116 |
187 |
242 |
182 |
| $/sq.ft |
194.00 |
177.50 |
180.34 |
199.28 |
187.00 |
Hmmmm. Yes, improved in 2016 both in numbers and in dollars. Median days on market are up for 2016 over 2014 and 2015 and exceed that 200 mark. More than double the number of actives as we have solds in 2016. Obviously this is more competitive and not as well a selling segment as any of the ones we've looked at thus far.
