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 Solds, 1/1 through 3/25 in the Northern Neck
All residential sales 1/1 through 3/25
Year 2019 2020 2021 Active
# sold 103 127 147 134
$ sold (millions) 30.1 39.8 57.2 55.8
Median sales price 240,000 235,000 299,000 317,000
Median days on market 147 169 91 94

Here are the stats for sales for that almost three month period comparing totally pre-pandemic, slightly pandemic and we're still in it pandemic sales. What you can see is that the sales have increased from 2019. The value of the sales has increased too. The inventory we have is pretty scant since it is less than what has sold in this period. I don't keep track of this number but suspect if I went to 2019 and looked at my statistics it would show that this number is very low.

These numbers are for the four counties of the Northern Neck of Virginia. They include Westmoreland, Northumberland, Richmond and Lancaster.

Here is a subset of this sales activity and it is for only the waterfront residential sales. Given what you've seen for the overall market, this basically follows suit.

Waterfront residential sales 1/1 through 3/25
Year 2019 2020 2021 Active
# sold 49 64 74 56
$ sold (millions) 21.8 30.0 41.6 33.8
Median sales price 345,000 396,000 504,500 444,450
Median days on market 157 263 85 82

This is really quite interesting in that the rise in numbers is fairly significant from 2019 to 2021 (sold 49 to 74), but the value jumping to almost double ($21.8 versus $41.6 million sold) tells us something. Also the median price between those two years is $345,000 versus $504,500. And look at the changes in the days on market.....Yes, things are flying off the shelf.



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