Here we are almost at the end of January and as I explained on the home page my obligations as a caregiver seriously cut into my time and availability for real estate. I'm back at real estate now and am hopeful that life will be more reasonable.
That said, we're doign pretty well wtih real estate here on the Northern Neck. You'll see in the below charts that we're keeping up with the high point which grew from the 2008 crash, and that high point was was 2017. Below you'll find both residential and land numbers. In each category there's a subset for the waterfront offerings. The actives are from the 12th of January which is when I pulled these statistics.
All this information helps in getting perspective.
All residential sales 4 counties
| |
2017 |
2018 |
2019 |
Active* |
| # sold |
633 |
617 |
621 |
466 |
| $ sold (millions) |
192.8 |
183.7 |
194 |
219.1 |
| median sales price |
225,100 |
238,500 |
245,000 |
349,900 |
| median days on market |
170 |
154 |
138 |
166 |
Waterfront residential (subset of total sales)
| |
2017 |
2018 |
2019 |
Active |
| # sold |
298 |
313 |
309 |
296 |
| $ sold (millions) |
141.8 |
134.1 |
141.5 |
178.5 |
| median sales pricce |
402,353 |
375,000 |
390,000 |
467,000 |
| median days on market |
192 |
190 |
157 |
198 |
All land (4 counties)
| |
2017 |
2018 |
2019 |
Active |
| # sold |
166 |
161 |
151 |
847 |
| $ sold (millions) |
15.7 |
13.8 |
15.0 |
101.2 |
| median sales price |
67,900 |
35,294 |
45,000 |
69,500 |
| median days on market |
307 |
265 |
261 |
438 |
We always have plenty of land for sale and now is not an exception. Look at how many active properties there are in relationship to the number sold in 2019. There's five years' worth of inventory sitting in our actives right now!
Waterfront land (subset of all land)
| |
2017 |
2018 |
2019 |
Active |
| # sold |
78 |
48 |
58 |
401 |
| $ sold (millions) |
11.0 |
7.9 |
9.3 |
77.5 |
| median sales price |
122,500 |
154,250 |
122,500 |
145,900 |
| median days on market |
415 |
305 |
296 |
452 |
Waterfront actives show us an even higher relationship of actives to solds. A litttle over 7 years' worth of inventory available on the market. Obviously you have to be priced right to sell at this point.
