In February, 20 homes sold in Lake of the Woods. 0 sold between $130-199,999; 4 sold between $200-249,999; 6 sold between $250,000-299,999; 5 sold between $300-349,999; 2 sold between $350,000-399,999; 2 sold between $400-599,999; 1 home sold over $600,000.
14 Active Listings for Sale 63 Homes Under Contract 40 Homes Sold since January 1, 2021.
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront 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 home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata
The continued inventory shortage experienced by most regions of the country was clearly evident in Lake of the Woods again in 2020. Listings decreased by 11.6%, from 397 in 2019 to 351 in 2020, while closed sales were up 4% from 301 to 313. New construction accounted for 34 of the 313 sales. The median sold price increased a healthy 7.87% year over year from $270000 to $291,250 in 2020.
Of the 313 total sales reported in 2020, only 8, or 2 1/2%, were either short sales or foreclosures. At the height of the distressed real estate market in 2010, a whopping 43% of all sales were either short sales or foreclosures.
Now let’s look at our steady growth over the past five years:
In 2017, there were 291 total sales, a whopping 21.7% increase over 2016 at 239. The median sales price climbed to $239,000.
In 2018, 234 homes sold, which was an 8% decrease from 2017. The median sales price rose to $249,900. In 2019, we realized a 28.63% gain in homes over 2018, with a total of 301 selling.
Average Days on the Market (DOM), which is the number of days it takes from the time a property is listed until it goes under contract, has steadily declined from 117 in 2016 to 37 in 2020.
It’s also telling to note that a significant number of lots have sold in the past five years. From January 1, 2016-Decemeber 31, 2020, a total of 196 lots sold: 24 in 2016; 37 in 2017; 45 in 2018, 41 in 2019; and 49 in 2020. There simply are very few lots left in LOW.
New construction has been climbing, as well. 2016 realized 28 new construction starts; in 2017, there were 30; in 2018, there were 34; in 2019, there were 48; and there were a whopping 66 new starts in 2020.
Another notable statistic is the dramatic rise in average sold price to original list price ratio. It has steadily risen from 93.9% in 2016 to 99.2% in 2020.
According to Freddie Mac and the Mortgage Bankers Association, mortgage rates were expected to stay within the 3.7-3.9% range in 2020. Interestingly, rates were surely seen well below those numbers. As of today, it’s possible to obtain a 15-year fixed rate below 2%, with the 30-year rate below 3%. Financial experts are expecting another year of low interest rates.
The prognosis for 2021, as it was in 2020, is excellent! In LOW, there are 9 homes active on the market as of 1/14/2021. In January of 2019, there were 57. Low, stable rates and hopefully more inventory should propel us to experience another year of healthy sales and appreciation.
Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Culpeper, Northern Virginia, or even Maryland or DC, we are your Real Estate team committed to finding the perfect home for you! 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 area 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 contact Pat Licata.
To see available properties, please visit our website licatagroup.com
In December, 25 homes sold in Lake of the Woods. 1 sold between $130-199,000; 4 sold between $200-249,000; 8 sold between $249,900-299,000; 8 sold between $300-399,000; 3 sold between $400-599,000; 1 home sold over $1,000,000!
13 Active Listings for Sale 42 Homes Under Contract 315 Homes Sold since January 1, 2020.
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront 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 home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
Imagine the memories you’ll make with family and friends as your waterfront adventure begins! Spectacular sunrises, stunning views, deep water off of an expansive dock with bar that conveys, and a contemporary house with a true lake house feel make this one “the one!” You’ll love spending your days at the dock either relaxing or floating on a raft, jumping in the water or onto your watercraft of choice. Two screened areas and ample decking provide endless opportunities to enjoy the outdoors in addition to the fabulous dock area. When the water season is over, the detached 3 car garage will easily accommodate your boat or watercraft. Once inside, you will love the hardwood floors, floor to ceiling stone fireplace to keep you warm on cold nights, and the open feel of this home. The soaring ceilings and all the windows add to the lake house feel. For more information on 102 Surrey Lane, Click Here!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront 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 home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Santa along with his trusty Reindeer will be paying a special visit to all of the good boys and girls in Lake of the Woods! He’ll be sitting on the porch of 310 Fairway Drive every Wednesday night in December from 6:00 PM – 8:00 PM to greet all the kids from a safe social distance. No lap sitting will be required, and the porch will be blocked off to ensure that proper social distancing is maintained. You’ll be able to enter the half circle driveway and wave to Santa from your car. Don’t miss your chance to see Santa in Lake of the Woods!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront 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 home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Welcome to the spectacular, custom, 6400+ sqft waterfront home awaiting you at 146 Harrison Circle, where you will be wowed from the moment you arrive. The stunning stamped concrete driveway, incredible curb appeal, and lush landscaping are just the beginning. Imagine the memories you’ll make by getting your lake life started here! If you are seeking a waterfront home that has it all, then this is it! Great, private water frontage and lake views, dock with boat and wave runner lifts, expansive three tier deck with a different “experience” on each level (open and private spaces), and oversized windows and doors are just a few fine features of this fantastic property. Relaxing on any of the private or open deck areas or dock, fishing, kayaking, boating, or just taking in the views can be yours! On the interior, you’ll love the amazing architecture featuring unique ceilings and so much more, unique staircase, impressive floor to ceiling stone fireplace, and generous sized rooms.
Enjoy cooking in the gourmet kitchen in the center of the home that features granite countertops, stainless steel appliances, and dining area with water views. The beautiful family room boasts walls of windows and doors with water views in every direction. The formal dining room with cathedral ceilings and formal living room united by a double sided fireplace will add ambiance while entertaining. The main level owner’s suite boasts a fireplace and attached office/sitting room/exercise room via the fun spiral staircase. The luxurious spa-like en-suite bath and two walk-in closets with built-ins are sure to please. The convenience of the main level laundry room with deep sink and tons of storage, along with a half bath, complete the main level. As you ascend the staircase, you’ll find a bedroom (don’t miss the secret room) with en-suite bath, as well as another bedroom and full bath. You will find entertaining an absolute breeze on the lower level! It includes a fabulous recreation room, bar, sunroom, two bedrooms, two full baths, flex space (currently used as an office), and an awesome media room that will make movie night a favorite activity. Begin making those memories now! For more information on 146 Harrison Circle, Click Here!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront 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 home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
In lieu of the LOW Annual Members Holiday Party, the LOW Association is proud to announce their Holiday Home Decorating Contest! Registered homes will be placed on a map available for view at LOWA.org to allow community members to view and tour the homes. The deadline to register your home will be on Friday, December 4th and the deadline to decorate your home will be on December 10th. The Garden Club will begin judging homes on December 11th, and will end on the 13th with the winner being announced on the 14th, and published in Lake Currents on the 18th.
Winners will be chosen from one of four different categories, and will receive gift cards to local businesses. The four categories include:
Griswold Glory
Lots of lights, so many that Santa will be sure to not miss your home!
Hallmark Holidays
Your house is the perfect greeting card with wreaths, lights, garland and everything in-between!
Wacky Tacky
inflatables, lights, lasers, figurines and anything you can think of!
Winter Wonderland
More of a seasonal and less Christmas with Sleighs, snowman and more.
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront 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 home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
While we had to remain socially distant for most of 2020, it doesn’t mean we can’t all be brought together virtually! Visit facebook.com/LOWAssociation on Friday, December 4th for the Lake of the Woods live-streamed tree lighting ceremony! Streaming will begin at 7:30 PM with a special appearance from the father of Christmas himself, Santa Clause! Nothing can stop us for celebrating with holiday cheer, so make sure that you tune in for the stream!
Whether you’re looking for homes for sale in Lake of the Woods VA or Waterfront 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 home owners. If you wish to sell your home, it needs to be sold for top dollar and in a timely manner. Pricing your home accurately, Pat will partner with you to make the selling process so much easier. Get started today by calling us at (540) 388-2541 or contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Join us this Saturday, 11/14/2020, as we show off these two gorgeous homes in Lake of the Woods, VA!
Face masks will be required to enter into each property, and social distancing is highly recommended. For more information about each home, click the addresses below!
Join us this Sunday, 11/08/2020, as we show off is beautiful home Orange, VA! Face masks will be required to enter into any property, and social distancing is highly recommended. For more information about the home, click the link below!
