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.
