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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2020 Year End Sales Summary for the Northern Neck of Virginia

I've been slow about doing statistics but I think that what I have here is very helpful. As we know sales on the Northern Neck of Virginia and in many other "non city" locations have just gone through the roof. Given our reasonable proximity to lots of major places...DC, Richmond, Fredericksburg, etc., it makes perfect sense that we got our fair share of "uptick" and really that is a huge understatement.

Here are some numbers for you to consider that cover Westmoreland, Northumberland, Lancaster and Richmond counties.

Residential sales, all for four counties
Year 2018 2019 2020 Active
# sold 617 626 892 186
$ sold (millions) 183.8 195.8 332.9 93.0
Median sales price 238,500 245,000 310,250 319,000
Median days on market 154 139 128 99

 

Waterfront residential only (a subset)
Year 2018 2019 2020 Active
# sold 313 312 524 91
$ sold (millions) 134.1 142.5 261.7 67.8
Median sales price 375,000 388,000 430,000 560,000
Median days on market 190 157 138 113

 

 

Sales of Lots
Year 2018 2019 2020 Active
# sold 161 153 256 776
$ sold (millions) 13.8 15.2 24.4 85.1
Median sales price 35,294 45,000 48,000 59,975
Median days on market 265 231 273 482

There are many many lots that have been on for a zillion years with no action and so they really skew the numbers. If the bunch that have been on for 5 or more years were subtracted from this, the changes that took place in 2020 would look much more startling. Don't know why there are so many listings that just sit there with no pricing that relates to the market. I have learned that slow.....can be something that prevails here in the Northern Neck.



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