The continued inventory shortage experienced by most regions of the country was clearly evident in Lake of the Woods again in 2024. This inventory shortage, rising interest rates, and inflation concerns beginning in the second half of 2022 definitely continued to define the 2024 real estate market. Closed sales decreased approximately 10.5% from 220 to 197. As a matter of fact, the number of closed sales has steadily declined since 2022. New construction accounted for 19 of 197 sales, and the median sold price increased 4.1% year over year from $401,500 to $418,000 in 2024
Now let’s look at the past five years:
in 2020, we realized a 4% gain in home sales over 2019, with a total of 313 sales. 2021 showed a gain in sales at 358, and the median sold price increased almost 16% to $337,500, up from $291,250 in 2020. Then came the mixed bag 2022 market: closed sales fell by more than 24%, while the median sold price rose by 11.39%. 2023 also showed an almost 19% decline in closed sales at 220, yet the median sold price continued to rise, ending the year at $401,500, a 6.8% increase over 2022. In 2024, the decline in closed sales continued with a 10.45% drop from 220 in 2023 to 197, while the increase in median sold price continued, showing a gain of 4.11% from $401,500 to $418,000.
Average days on the market ( DOM ), the number of days it takes from the time a property is listed until it goes under contract had decreased from 37 in 2020 to 16 in 2021…yet in 2022, it rose to 23, showing more evidence of changing market. 2023 showed another rise to 32, where it remained in 2024.
It’s also telling to note that a significant number of lots have sold in the past five years. From January 1, 2020, through December 31, 2023, a total of 140 lots were sold, 49 in 2020, 24 in 2021, and only 13 in both 2022 and 2023, while 2024 showed 22 lots selling. There simply are very few lots left in LOW.
Of the MLS sales reported in 2020-2024, new construction numbers have varied. 2020 realized 41 sales, 2021 ended at 37, and 2022 saw new construction sales dip to only 13, rising to 37 in 2023, and ending 2024 dropping to 19. There aren’t many lots left in LOW, which of course will impact new construction sales in the future.
Another notable statistic is the rise in the average sold price to original list price ratio from 2020-2021. 2022 showed a slight decrease to 100.3%, followed by another decrease in 2023 to 98% and finally a 1.15% increase to 99.1% in 2024
Whether you’re looking for homes for sale in Lake of the Woods VA or property in Virginia, we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “What is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, one of our expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contacting Pat Licata. To view available Lake of the Woods properties, please visit our site. To view available properties in Northern and Central Virginia, visit our website at licatagroup.com.
In October, 10 homes were SOLD in Lake of the Woods.
0 sold below $250,000.00 1 sold between $250,000-299,999; 0 sold between $300,000-349,999; 0 sold between $350,000-399,999; 5 sold between $400,000-499,999; 4 sold between $500,000-$999,999(+)
36Active/Coming Soon Listings for Sale 23 Homes Under Contract 166 Homes Sold since January 1, 2024
Whether you’re looking for homes for sale in Lake of the Woods VA or property in Virginia, we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “What is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, one of our expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contacting Pat Licata. To view available Lake of the Woods properties, please visit our site. To view available properties in Northern and Central Virginia, visit our website at licatagroup.com.
This magnificent 4-bedroom, 4-bath home is a one-of-a-kind masterpiece, offering over 4,500 sq. ft. of meticulously designed living space. Nestled on a lakefront lot with approximately 205 ft. of pristine waterfrontage, this home combines contemporary luxury with natural beauty and versatility, making it perfect as a short-term rental, a vacation home, or a full-time residence.
From the moment you enter, you’ll notice the unique charm of the stone-front exterior and the welcoming foyer, which opens to stunning hardwood floors. A private main-level bedroom and full bath offer seclusion, while the rest of the home unfolds into an expansive open-concept living space. The two-story great room is an architectural marvel with a full wall of windows that bring the beauty of the lake indoors, enhanced by remote-controlled shades for ease of use. Built-in bookshelves and a beautifully designed fireplace add to the ambiance, making this room the perfect gathering space.
The gourmet kitchen is a chef’s dream, featuring a 6-burner gas cooktop, stainless steel appliances, granite countertops, and abundant storage. The adjacent dining area flows seamlessly into the four-season sunroom, where you’ll be surrounded by serene lake views through glass and screened windows—a perfect space to relax or entertain year-round.
What truly sets this home apart are the two primary suites, each with its own screened porch. The main-level suite offers a luxurious spa-like bath, walk-in closets, and a private hot tub on the porch—your personal sanctuary.
The second-floor suite includes a modern bathroom, a sitting area, and even its own washer and dryer for convenience. A loft overlooking the great room features additional sleeping space with two Murphy beds, offering flexibility for guests.
The lower level is equally impressive, with a family room that includes built-in bookshelves, more Murphy beds, a kitchenette, a fourth bedroom, and a full bath. Step outside to the covered patio, perfect for entertaining or simply enjoying the view. The exterior is equally exceptional, with custom walkways, beautifully landscaped grounds, and direct access to the lake for boating, fishing, or wildlife viewing.
This unique home offers an unparalleled lifestyle—whether it’s the high ceilings, endless lake views, or the thoughtfully designed spaces for family and guests, every aspect has been crafted for comfort and luxury. Whether you’re seeking an income-generating short-term rental, a vacation getaway, or a peaceful full-time residence, this home checks all the boxes. With its close proximity to the back gate for easy access, this property is the ultimate blend of elegance and convenience.
Don’t miss out on this one-of-a-kind lakeside retreat!
Nestled in a private, secure, gated community, Lake of the Woods is a paradise of possibilities. With two lakes, a golf course, an equestrian center, fire and rescue services, and even a church within its bounds, this community offers a diverse range of activities. From boating, water skiing, kayaking, and golfing to the simple joy of soaking in mesmerizing views from the clubhouse, deck, yard, or beaches, there’s something for everyone. Engage your interests by joining over 60 clubs and organizations, or perhaps indulge in a game of bridge or contribute your talents as a volunteer. Lake of the Woods truly caters to your lifestyle.
Located in Orange County, enjoy the added advantage of low real estate taxes. With home prices spanning from $200,000+ to over $2,000,000, Lake of the Woods is the ideal haven for both full-time residents and weekenders. Don’t just take my word for it – come and see for yourself! Allow me to guide you through a tour of Lake of the Woods, showcasing the very essence of what makes this community so special. Experience firsthand the captivating charm of Lake of the Woods!
Escape to this luxurious 5-bedroom, 4.5-bathroom waterfront home, nestled in a tranquil deep-water cove. With a perfect blend of elegance and comfort, this residence promises a life of luxury, breathtaking views, and endless lake fun in a deep water cove. Upon entering, the main level welcomes you with a grand living room, featuring hardwood floors, a cozy fireplace, coffered ceiling, and custom built-ins—all framed by million-dollar lake views. The gourmet kitchen is an entertainer’s dream, complete with a breakfast nook, a breakfast bar for additional seating, and a dining room that opens up to a screened porch, seamlessly extending your entertaining space to the outdoors. The main-level primary bedroom is a private retreat of its own, offering direct access to the deck, a spa-like bathroom perfect for soaking away the day’s stress, and a spacious walk-in closet. Upstairs, you’ll find a versatile loft area perfect for an office or flex room, along with a large storage closet. The second primary bedroom on this level boasts an ensuite bath, a coved ceiling, skylights, and a private balcony with spectacular lake views. Completing the upper level are two additional guest bedrooms and a shared guest bath. The lower level offers a massive family rec room with another fireplace for those cozy nights in, as well as an optional fifth bedroom or home office with outside access. The full bath and enclosed patio provide additional comfort and convenience, while the expansive storage area with built-in shelving keeps everything neatly organized. Outdoor living is where this home truly shines. From the expansive decks to the enclosed patios, every corner of this home is designed to maximize the stunning long views of the lake. Whether you’re enjoying a morning coffee on the balcony, hosting family and friends on the screened porch, or simply taking in the beauty of the deep-water cove, there’s always an opportunity to soak in the serene views. Imagine days spent on the lake—boating, fishing, or swimming—and nights spent entertaining, with the glistening lake as your backdrop. This stunning waterfront retreat truly has it all—a luxury lifestyle, a prime location for fun and relaxation, and views that make every day feel like a getaway. Come experience the best of lake living, all in one place with plenty of room for family and friends. Nestled in a private, secure, gated community, Lake of the Woods is a paradise of possibilities. With two lakes, a golf course, an equestrian center, fire and rescue services, and even a church within its bounds, this community offers a diverse range of activities. From boating, water skiing, kayaking, and golfing to the simple joy of soaking in mesmerizing views from the clubhouse, deck, yard, or beaches, there’s something for everyone. Engage your interests by joining over 60 clubs and organizations, or perhaps indulge in a game of bridge or contribute your talents as a volunteer. Lake of the Woods truly caters to your lifestyle. Located in Orange County, enjoy the added advantage of low real estate taxes. With home prices spanning from $200,000+ to over $2,000,000, Lake of the Woods is the ideal haven for both full-time residents and weekenders. Don’t just take my word for it – come and see for yourself! Allow me to guide you through a tour of Lake of the Woods, showcasing the very essence of what makes this community so special. Experience firsthand the captivating charm of Lake of the Woods!
Whether you’re looking for homes for sale in Lake of the Woods VA or property in Virginia, we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “What is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, one of our expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contacting Pat Licata. To view available Lake of the Woods properties, please visit our site. To view available properties in Northern and Central Virginia, visit our website at licatagroup.com.
Welcome to this charming 3-bedroom, 1.5-bath cottage in the heart of Historic Gordonsville, VA! Just shy of celebrating its 100th birthday, this meticulously maintained home is full of character and modern comfort. Enjoy the small-town charm with easy access to local favorites like Patch Brewery, Champion Ice House, Barbecue Exchange, and a variety of unique downtown shops that draw locals and visitors alike. Conveniently located within walking distance of the elementary school, this home is perfect for families or anyone seeking the warmth of a close-knit community. For a weekend getaway, Barboursville Winery and the Four County Players Community Theatre are just 15 minutes away, and you’re only 30 minutes from UVA and Charlottesville. Don’t miss your chance to call this delightful property your Happy Place!
Whether you’re looking for homes for sale in Lake of the Woods VA or property in Virginia, we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “What is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, one of our expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contacting Pat Licata. To view available Lake of the Woods properties, please visit our site. To view available properties in Northern and Central Virginia, visit our website at licatagroup.com.
1 sold below $250,000.00 2 sold between $250,000-299,999; 1 sold between $300,000-349,999; 4 sold between $350,000-399,999; 7 sold between $400,000-499,999; 2 sold between $500,000-$999,999;
31 Active/Coming Soon Listings for Sale 11 Homes Under Contract 125 Homes Sold since January 1, 2024
Whether you’re looking for homes for sale in Lake of the Woods VA or property in Virginia, we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “What is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, one of our expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contacting Pat Licata. To view available Lake of the Woods properties, please visit our site. To view available properties in Northern and Central Virginia, visit our website at licatagroup.com.
0 sold below $250,000.00 0 sold between $250,000-299,999; 3 sold between $300,000-349,999; 4 sold between $350,000-399,999; 7 sold between $400,000-499,999; 4 sold between $500,000-$999,999;
34 Active/Coming Soon Listings for Sale 21 Homes Under Contract 110 Homes Sold since January 1, 2024.
Whether you’re looking for homes for sale in Lake of the Woods VA or property in Virginia, we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “What is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, one of our expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contacting Pat Licata. To view available Lake of the Woods properties, please visit our site. To view available properties in Northern and Central Virginia, visit our website at licatagroup.com.
Welcome to 113 Sand Trap Lane, where modern comfort meets timeless charm in this stunning Prow House-style residence situated on a premium golf course lot. Boasting over 3500 sqft of meticulously crafted living space, this 3-bedroom, 3-bathroom home offers a serene retreat for its fortunate owners. Step inside and be greeted by an inviting foyer embellished with beautiful hardwood floors, setting the tone for what awaits within. To the right, a versatile formal living room awaits, perfect for transforming into your dream in-home office or flex space to suit your lifestyle. The main level graciously hosts the primary bedroom, strategically positioned for convenience and privacy. Revel in the luxury of an attached bath, providing ample space for relaxation and rejuvenation. With easy access to the outdoors and his and her closets, this ensuite sanctuary promises a slice of paradise for its occupants, offering a tranquil haven to unwind and soak away the day’s stresses. Continuing your journey through the home, discover a formal dining room and an additional bedroom and full bath, thoughtfully arranged to accommodate family and guests with ease. Prepare to be captivated as you enter the heart of the home, where an open-concept space unfolds beneath vaulted ceilings. Here, an eat-in kitchen seamlessly transitions into a cozy family room adorned with a fireplace, creating an inviting ambiance that attracts gatherings and celebrations. Ascend the stairs to reveal an expansive loft area, offering endless possibilities for relaxation, and recreation, with a third bedroom complete with an accommodating full bath, this upper-level retreat ensures comfort and versatility for all who reside within. Convenience meets functionality in the garage area, where ample storage space and a 2-car garage provide practical solutions for organization and accessibility. Nestled in a desirable location, 113 Sand Trap Lane invites you to embrace a lifestyle of luxury and tranquility. Don’t miss your opportunity to make this exquisite residence your very own oasis – schedule your private tour today and prepare to be captivated by all that awaits! Nestled in a private, secure, gated community, Lake of the Woods is a paradise of possibilities. With two lakes, a golf course, an equestrian center, fire and rescue services, and even a church within its bounds, this community offers a diverse range of activities. From boating, water skiing, kayaking, and golfing to the simple joy of soaking in mesmerizing views from the clubhouse, deck, yard, or beaches, there’s something for everyone. Engage your interests by joining over 60 clubs and organizations, or perhaps indulge in a game of bridge or contribute your talents as a volunteer. Lake of the Woods truly caters to your lifestyle. Located in Orange County, enjoy the added advantage of low real estate taxes. With home prices spanning from $200,000+ to over $2,000,000, Lake of the Woods is the ideal haven for both full-time residents and weekenders. Don’t just take my word for it – come and see for yourself! Allow me to guide you through a tour of Lake of the Woods, showcasing the very essence of what makes this community so special. Experience firsthand the captivating charm of Lake of the Woods!
Whether you’re looking for homes for sale in Lake of the Woods VA or property in Virginia, we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “What is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, one of our expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contacting Pat Licata. To view available Lake of the Woods properties, please visit our site. To view available properties in Northern and Central Virginia, visit our website at licatagroup.com.
Welcome to this stunning 1.5-level traditional-style home, perfectly nestled on a picturesque waterfront lot. This home offers 3 spacious bedrooms, 2.5 bathrooms, and a 2490 sqft of beautifully designed living space.
Step inside and be greeted by an open and airy living room with vaulted ceilings, a cozy fireplace, and breathtaking lakeside views. The eat-in kitchen is a culinary haven, equipped with everything you need to create delicious meals. Adjacent to the kitchen, a sunroom offers serene lake and dock views, perfect for enjoying your morning coffee or unwinding in the evening.
The primary bedroom is a private retreat, complete with an ensuite bath that serves as your personal oasis, ideal for melting away the day’s stress. Step out onto the screened porch off the primary bedroom, and relax with your favorite beverage while soaking in the tranquil lake views.
Ascend the stairs to find two additional bedrooms, a full bathroom, and a versatile bonus room, perfect for creating lasting memories with family and friends. This fantastic home also features a 2-car garage, and an open deck perfect for grilling and outdoor gatherings.
Imagine weekends spent fishing off the dock, hosting barbecues on the deck, and cozying up by the fireplace on cool evenings. This home isn’t just a place to live—it’s a place to create cherished memories for years to come.
Nestled in a private, secure, gated community, Lake of the Woods is a paradise of possibilities. With two lakes, a golf course, an equestrian center, fire and rescue services, and even a church within its bounds, this community offers a diverse range of activities. From boating, water skiing, kayaking, and golfing to the simple joy of soaking in mesmerizing views from the clubhouse, deck, yard, or beaches, there’s something for everyone. Engage your interests by joining over 60 clubs and organizations, or perhaps indulge in a game of bridge or contribute your talents as a volunteer. Lake of the Woods truly caters to your lifestyle.
Located in Orange County, enjoy the added advantage of low real estate taxes. With home prices spanning from $200,000+ to over $2,000,000, Lake of the Woods is the ideal haven for both full-time residents and weekenders. Don’t just take my word for it – come and see for yourself! Allow me to guide you through a tour of Lake of the Woods, showcasing the very essence of what makes this community so special. Experience firsthand the captivating charm of Lake of the Woods!
Whether you’re looking for homes for sale in Lake of the Woods VA or property in Virginia, we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “What is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, one of our expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contacting Pat Licata. To view available Lake of the Woods properties, please visit our site. To view available properties in Northern and Central Virginia, visit our website at licatagroup.com.
Buying a home is an exciting milestone, but it’s essential to be prepared for the financial commitment beyond just the purchase price. In addition to the down payment and mortgage payments, there are several other costs associated with buying a home that can catch many buyers off guard. In this blog post, we’ll delve into these costs, including closing costs, home inspections, and moving expenses, and offer practical advice on how to budget for them effectively.
1. Closing Costs:
Closing costs are fees associated with finalizing the home purchase and securing the mortgage loan. They typically range from 2% to 5% of the home’s purchase price and can include:
Loan Origination Fees: Charges from the lender for processing the loan.
Title Insurance: Protects against any issues with the property’s title.
Appraisal Fees: Cost of assessing the property’s value.
Escrow Fees: Handling fees for managing the transfer of funds and documents.
Recording Fees: Charges for recording the deed and other legal documents.
Budgeting Tip: Plan ahead by obtaining a loan estimate from your lender early in the home-buying process. This will give you a better understanding of the closing costs you’ll need to budget for.
2. Home Inspections:
Home inspections are crucial for identifying any potential issues or repairs needed before finalizing the purchase. While the cost varies depending on the size and location of the home, typical inspections include:
General Home Inspection: Covers the overall condition of the home, including structural components, electrical systems, plumbing, and more.
Pest Inspection: Checks for any signs of pest infestation, such as termites or rodents.
Radon Testing: Determines the presence of radon gas, which can be harmful if present at high levels.
Budgeting Tip: Allocate funds for home inspections early in your home-buying journey. While they may seem like an additional expense, they can save you money in the long run by uncovering potential issues that could be costly to repair later.
3. Moving Expenses:
Moving costs can add up quickly, especially if you’re relocating a long distance or have a large household. Consider the following expenses when budgeting for your move:
Professional Movers: Hiring movers to pack and transport your belongings.
Packing Supplies: Purchasing boxes, tape, bubble wrap, and other packing materials.
Utility Setup Fees: Charges for setting up utilities at your new home.
Travel Expenses: Costs for transportation and lodging if moving long distance.
Budgeting Tip: Get multiple quotes from moving companies to compare prices and find the best deal. Consider decluttering and selling or donating items you no longer need to reduce moving costs.
Conclusion:
While the purchase price of a home is a significant expense, it’s essential to account for the additional costs that come with buying a home. By budgeting wisely for closing costs, home inspections, and moving expenses, you can ensure a smoother and more financially manageable home-buying experience. Remember to plan ahead, obtain estimates, and factor these additional expenses into your overall budget to avoid any surprises along the way. With careful planning and preparation, you’ll be well-equipped to embark on your journey to homeownership confidently.
Whether you’re looking for homes for sale in Lake of the Woods VA or property in Virginia, we are your Real Estate Advisors for Stafford, Fredericksburg, Spotsylvania, Locust Grove, Central Virginia, and Greater Virginia. Thinking of selling? In any market condition, “What is my home worth?” is the #1 question asked by homeowners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, one of our expert advisors will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contacting Pat Licata. To view available Lake of the Woods properties, please visit our site. To view available properties in Northern and Central Virginia, visit our website at licatagroup.com.
