These sales are for the four counties of the Northern Neck, Richmond, Lancaster, Northumberland and Westmoreland for almost the first quarter of each of the respective years. Interesting about 2017. I would have thought we were doing better than this in 2017.
All residential sales 1/1 through 3/13
|
2014 |
2015 |
2016 |
2017 |
Active |
# sold |
61 |
70 |
67 |
57 |
616 |
$ sold (millions) |
14.7 |
20.5 |
16.2 |
18.4 |
259.6 |
Median sales price |
159,900 |
212,650 |
178,000 |
225,000 |
339,000 |
Median days on market |
239 |
205 |
223 |
210 |
221 |
Least number of properties sold in this timeframe since prior to 2014. Best median sales price of the four years and therefore almost the highest dollars from sales of the four years. Reasonable number of median days on market this year. Probably in the vicinity of three years' worth of inventory right now although we'll be getting lots of new listings in the next 6 weeks or so.
Waterfront residential sales 1/1 through 3/13 (subset of above)
|
2014 |
2015 |
2016 |
2017 |
Active |
# sold |
22 |
32 |
25 |
25 |
357 |
$ sold (millions) |
10.0 |
16.2 |
10.6 |
13.5 |
204.3 |
Median sales price |
425,000 |
384,000 |
317,000 |
429,000 |
469,000 |
Median days on market |
304.5 |
224 |
264 |
261 |
257 |
Waterfront sales this year isn't exactly a dynamic segment, although it is good to see that the median price is up and that shows some of the higher-end properties are selling. If we were to round this out and think that there'd be about 100 waterfront homes sold this year, then looking at what we have here we'd think we have a bit in excess of three years worth of inventory. Not bad....not great....yet.
All land sales 1/1 through 3/13
|
2014 |
2015 |
2016 |
2017 |
Active |
# sold |
18 |
20 |
14 |
12 |
733 |
$ sold (millions) |
2.9 |
1.9 |
1.3 |
1.5 |
110.8 |
Median sales price |
164,500 |
49,950 |
53,000 |
118,000 |
90,500 |
Median days on market |
140 |
177.5 |
274.5 |
534 |
471 |
Hmmm. Fewest properties sold in this timeframe looking at our four years. Better dollar sales this year than last year. Much increased median sales price over the last two years. Look at the median days on market for these twelve solds!!! 534 days. That means many of the sold properties came down quite a bit to get sold. And look at the number of active properties. This is a difficult market for selling land.