River & Rural Realty--Find Virginia Waterfront property on the Northern Neck
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Contact Information

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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Land sales update for the Northern Neck

Here are the numbers for the first half of the year compared with the two earlier years. Shows that we are doing much better in the sale of land on the Northern Neck than we have in a very long time. This is the best since the end of 2008 which sent all real estate into a tailspin. Good to see.

All land sales 1/1 to 7/1 for the four counties
  2015 2016 2017 Active
# sold 68 51 91 849
$ sold (millions) 6.5 5.8 9.2 109.8
Median sales price 53,500 42,500 79,500 75,000
Median days on market 242 265 266 465

These numbers are really self-explanatory. Many more sales in 2017. Significantly more dollars which of course mostly has to do with more sales although the increase in median sales price contributed to that as well. Still the median days on market is significant and is way more than 1 year for the actives that are on the market. Good news, though, all in all.

waterfront land sales 1/1 to 7/1 for the four counties
  2015 2016 2017 Active
# sold 27 15 40 392
$ sold (millions) 3.8 2.6 5.8 83.5
Median sales price 115,000 91,000 132,000 157,000
Median days on market 275 308 393 458

Waterfront land sales fall into line with the overall sales of land in the Northern Neck. Many many more sales in 2017, more than double the number of solds in 2016. Significantly higher total sales dollars in 2017. Much higher median sales price this  year. Interestingly what has been selling has a very high median days on market. These properties have been on the market for quite a while for the most part and must have dropped in price to catch the buyers' attention.  Looking at those properties that are on the market....well 458 days for the median days on market is a big number. For the moment let's just concentrate on the fact that properties are selling and are doing much better than at any time since the end of 2008. Good news.

 

 

 



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