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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2021 sales in the Northern Neck compared with previous years

Here it is, the information that will give us pretty good perspective about what has gone on in the last year and how the Northern Neck market fits in overall.

This covers the four counties of the Northern Neck (Richmond, Lancaster, Northumberland and Westmoreland).

Really considerable difference between 2018 and 2019 and then 2020 and 2021. Looking at the two sets of two  years there's been a huge percentage increase in numbers of properties sold. Huge percentage increase in dollars sold. A very active market.

All residential sales 1/1 to 12/31
  2018 2019 2020 2021 Active
# sold 617 626 892 854 103
$ sold (millions) 183.8 195.8 332.9 350.3  
Median sales price 238,500 245,000 310,250 312,000  
Median days on market 154 139 128 73  

The above reflects what we've been hearing in general about the real estate market: Not as much inventory and higher prices. Obviously looking at the waterfront properties right below (a subset) that change in median sales price is much more notable.

Waterfront residential sales (subset of above)

 

2018 2019 2020 2021 Active
# sold 313 312 524 419 58
$ sold (millions) 134.1 142.5 261.7 252.5  
Median sales price 375,000 388,000 430,000 520,000  
Median days on market 190 157 138 73  

And here's the land information to take a look at. Sales really picked up in the last two years.

All land sales 1/1 to 12/31
  2018 2019 2020 2021 Active
# sold 161 153 266 406 611
$ sold (millions) 13.8 15.2 25.5 40.6  
Median sales price 35,294 45,000 49,500 48,500  
Median days on market 265 231 277 232  

A huge difference in land sales in the last two years. Still quite an inventory but as I've said before, there are some lots that have been on the market for ten years and probably will not budge because they aren't priced right even for this market.

Waterfront land sales (a subset) 1/1 to 12/31
  2018 2019 2020 2021 Active
# sold 48 59 123 193 271
$ sold (millions) 7.9 9.5 19.8 32.3  
Median sales price 154,250 125,000 130,000 123,000  
Median days on market 305 291 351 301  

 



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