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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Land sales update

 

 

These numbers are for January 1 through April 13th for the respective years. What this suggests is that land sales are doing better for the first time in a couple of years. Who would have known? It has been a consistently tough segment for sales and this does look better.

All land sales in the four counties (1/1-4/13)
  2015 2016 2017 Active
# sold 30 22 38 865
$ sold (millions) 2.3 1.4 3.9 116.9
Median sales price 38,300 20,750 82,500 75,000
Median days on market 215.5 274.5 361 418

More sales. More dollars. Higher median sales price. And we seem to be getting rid of some older inventory since the median days on market for 2017 is 361.

Waterfront land sales in the four counties (1/1-4/13)
  2015 2016 2017 Active
# sold 12 6 17** 407
$ sold (millions) 1.7 638,500* 2.6 88.8
Median sales price 103,750 64,000 145,000 159,000
Median days on market 223.5 296 495 409

* Not millions, just $638,500....didn't even get to $1,000,000 in 2016.

**Of the sales in 2017 I looked at the one that was on the marke tthe longest. It was on for 2360 days and it initially came on the market in 2010 for $599,000 and eventually sold for $210,000. Now that is quite something!! 

Again, more sales, more dollars, higher median sales price and 495 median days on market for 2017. We are making some progress with these properties. That is a very good thing. I'm hopeful that most properties are priced well so that they don't endure more than 2000 days on market.

Here's looking at a very productive spring selling season!!



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