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
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Sales, a subset of waterfront residential

These sales figures are for the four counties of the Northern Neck as well as Essex and Middlesex counties (Middle Peninsula properties). I've added the $/sq.ft. since some people are interested in these numbers. I find them particularly difficult to use when we look at properties that are rural. You aren't compensating for more acreage, or more water depth or a better view or a myriad of other things that affect value. Far easier to apply this to urban locations where it is more apples to apples, even if some adjustments might need to be made. So take these numbers ($/sq.ft.) with a grain of salt.

Sales 1/1 through 9/21 waterfront residential $400,000 to $500,000
  2012 2013 2014 2015 2016 Active
#sold 25 33 33 28 37 84
$ sold (millions) 10.6 13.3 14.3 12.4 15.8 38.6
median sales price 430,000 415,000 430,000 436,000 425,000 450,000
median days on market 151 335 163 154.5 242 156
median $/sqft 226.82 195.40 207.92 181.50 199.28 195

Improved number of sales this year. Improved dollars. Slightly lower median sales price and a considerable uptick in median days on market for the 2016 sales.

Sales 1/1 through 9/21 waterfront residential $500,000 to $600,000
  2012 2013 2014 2015 2016 Active
#sold 23 18 14 27 19 64
$ sold (millions) 11.9 9.4 7.2 14.0 10.0 36.4
median sales price 520,000 525,000 524,000 515,000 528,000 572,500
median days on market 172 185 345,5 312 202 160.5
median $/sqft 219.90 218.50 226.50 217.31 214.88 207.50

Considerable drop in sales this year versus last year. Better than 2013 or 2014 though. A real drop in the median days on market for this year. That's a plus. A bit more inventory that is available in relationship to the current solds.

Sales 1/1 through 9/21 waterfront residential $600,000 to $700,000
  2012 2013 2014 2015 2016 Active
#sold 10 11 14 15 21 39
$ sold (millions) 6.0 6.7 8.8 9.3 13.2 26.1
median sales price 592,500 625,000 643,000 612,000 625,000 673,000
median days on market 98 188 201 249 305 177
median $/sqft 285.00 264.00 239.50 221.48 195.80 193.36

This is the healthiest segment of these three price points we're looking at here. Slightly more than double the sales of 2012 have occured seen in 2016. More than double the dollars in 2016 versus 2012. A considerable uptick from 2015 in numbers sold and dollars sold. An increase in median sales price in 2016. A really notable number is the very long median days on market for the solds thus far this year. Must say that there's a lot that's been on the market that the price has come down to the point that it has sold. Interesting. 



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