We've been seeing that the number of sales this year does not exceed last year's but the dollars for the solds are up. The information that you'll see below certainly supports that. I've broken out the waterfront residential sales in the four counties of the Northern Neck (Northumberland, Westmoreland, Richmond and Lancaster) into two categories. One is the under $500,000 and the other is $500,000 to $1,000,000. Although it is interesting, it's not surprising given what we've been seeing in the overall numbers.
Waterfront residential sales up to $500,000 (1/1 through 5/30)
| |
2014 |
2015 |
2016 |
2017 |
Active |
| # sold |
40 |
48 |
70 |
58 |
249 |
| $ sold (millions) |
12.2 |
15.4 |
21.2 |
19.2 |
88.4 |
| Median sales price |
305,000 |
344,925 |
297,500 |
347,000 |
369,000 |
| Median days on market |
277 |
234 |
247 |
205.5 |
135 |
Considerably fewer sales in 2017 when compared with 2016. A higher median sales price in 2017 and fewer median days on market. Looking pretty god overall. The median sales price of the actives isn't far off the mark of the solds for 2017 either.
Waterfront residential sales $500,000-$1,000,000 (1/1 through 5/30)
| |
2014 |
2015 |
2016 |
2017 |
Active |
| # sold |
14 |
27 |
25 |
29 |
150 |
| $ sold (millions) |
8.5 |
17.1 |
14.9 |
18.6 |
103.1 |
| Median sales price |
623,550 |
597,500 |
595,000 |
654,000 |
649,000 |
| Median days on market |
297.5 |
240 |
266 |
240 |
114 |
2017 gives us our best sales and best dollars in the four we're looking at. That's good. Also we have the highest median sales price .....Sales have improved and that's another good sign for our market.
