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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Waterfront residential sales comparison

We've been seeing that the number of sales this year does not exceed last year's but the dollars for the solds are up.  The information that you'll see below certainly supports that. I've broken out the waterfront residential sales in the four counties of the Northern Neck (Northumberland, Westmoreland, Richmond and Lancaster) into two categories. One is the under $500,000 and the other is $500,000 to $1,000,000. Although it is interesting, it's not surprising given what we've been seeing in the overall numbers.

Waterfront residential sales up to $500,000 (1/1 through 5/30)
  2014 2015 2016 2017 Active 
# sold 40 48 70 58 249
$ sold (millions) 12.2 15.4 21.2 19.2 88.4
Median sales price 305,000 344,925 297,500 347,000 369,000
Median days on market 277 234 247 205.5 135

Considerably fewer sales in 2017 when compared with 2016. A higher median sales price in 2017 and fewer median days on market. Looking pretty god overall. The median sales price of the actives isn't far off the mark of the solds for 2017 either.

Waterfront residential sales $500,000-$1,000,000 (1/1 through 5/30)
  2014 2015 2016 2017 Active 
# sold 14 27 25 29 150
$ sold (millions) 8.5 17.1 14.9 18.6 103.1
Median sales price 623,550 597,500 595,000 654,000 649,000
Median days on market 297.5 240 266 240 114

2017 gives us our best sales and best dollars in the four we're looking at. That's good. Also we have the highest median sales price .....Sales have improved and that's another good sign for our market.

 



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