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 sales update

Here are the numbers from January 1 through June 29 for the respective years. This is for the four counties of the Northern Neck--Richmond, Lancaster, Northumberland and Westmoreland. Shows us that there isn't signficant increase over last year in terms of numbers sold although dollars sold are up. You'll see below.

All residential sales 1/1 through 6/29
  2014 2015 2016 2017 Active
# sold 189 205 250 252 719
$ sold (millions) 49.9 62.4 66.5 77.5 310.2
Median sales price 175,000 235,000 200,000 222,500 349,000
Median days on market 225 204 222 184 129

As you can see there have only been two more sales in 2017 than in 2016 at this same time in the year. The dollars, though are considerably up. Median sales price is up and median days on market are down considerably in 2017. Not bad news at all. Pretty good news, especially for higher end properties.

One thing to take from this information is that we are improving in sales, but that our improvement has no relationship to the big improvements in city real estate. We are different. Special, but different.

                                 Waterfront residential sales 1/1 through 6/29

 

2014 2015 2016 2017 Active
# sold 73 104 122 116 429
$ sold (millions) 33.9 48.9 49.2 57.1 247.1
Median sales price 370,000 391,000 375,000 425,250 465,000
Median days on market 288 237 251 215 130

Here is a subset of residential, the waterfront residential sales. For 2017 there are fewer homes that have sold than in 2016 in this same time period. The dollars, just as in the full residential numbers, are higher for waterfront sales and may be a big part of the overall improvement of dollars for this market.....it may not affect the non-waterfront sales. Perhaps I'll check and see next week.

2017 has slightly fewer sales, higher dollars sold, higher median sales price and reduced median days on market when compared with the three previous years. Median days on market for the actives is only 130 which looks pretty good. In the next day or so I'll check on the million dollar plus properties....also, I'll check what the "average days on market" is for this segment and I'm betting it looks very different. Still, this information from yesterday's check on sales looks pretty good.



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