Tag Archives: market statistics

market stats lake of the woods virginia 22508

February 2023 Lake of the Woods Monthly Real Estate Statistics

In February, 9 homes were SOLD in Lake of the Woods.

1 sold below $250,000.00
0 sold between $250,000-299,999;
3 sold between $300,000-349,999;
1 sold between $350,000-399,999;
4 sold between $400,000-499,999;
0 sold between $500,000-$999,999;

20 Active/Coming Soon Listings for Sale
21 Homes Under Contract
22 Homes Sold since January 1, 2023.

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 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, Pat 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 see available Lake of the Woods properties, please visit our site.

market stats lake of the woods virginia 22508

The LOWdown on Real Estate at the Lake 2022 by Pat Licata

The continued inventory shortage experienced by most regions of the country was clearly evident in Lake of the Woods again in 2022. This inventory shortage, along with rocketing interest rates and inflation concerns in the second half of the year, definitely changed the course of the 2022 real estate market. Closed sales decreased approximately 24% from 358 to 272. New construction accounted for 31 of the 272 sales. The median sold price increased 11.39% year over year from $336,500 to $375,950 in 2022.

Now let’s look at the past five years:

In 2019, 301 homes sold, which was a 28.63% increase over 2018. The median sales price rose to $270,000. In 2020, we realized a 4% gain in home sales over 2019, with a total of 313 selling. 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. And then came the mixed bag 2022 market: closed sales fell by more than 24%, while the median sold price rose by 11.39%.

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, had steadily decreased from 76 in 2018 to 16 in 2021…yet in 2022, it rose to 23, more evidence of a changing market.

It’s also telling to note that a significant number of lots have sold in the past five years. From January 1, 2018, through December 31, 2022, a total of 172 lots sold: 45 in 2018; 41 in 2019; 49 in 2020; 24 in 2021; and only 13 in 2022. There simply are very few lots left in LOW.

Of the MLS sales reported in 2018-2022, new construction numbers have varied. 2018 saw 11 new construction homes sales; 2019 realized 31; 2020 sales jumped to 41; 2021 ended at 37; and 2022 saw new construction sales dip to only 13. 

Again, there aren’t many lots left in LOW, which, of course, will impact new construction sales in the future. 

Another notable statistic is the dramatic rise in average sold price to original list price ratio. It had steadily risen from 96.4% in 2018 to 100.9% in 2021, with 2022 showing a slight decrease at 100.3%.

According to Freddie Mac and the Mortgage Bankers Association at this time last year, mortgage rates were expected to rise and end 2022 in the 3.75-4% range for a 30-year fixed. As we experienced, they were wrong! Interest rates rose at a higher trajectory than ever before in the history of mortgage rates being documented. The current forecast is for rates to stabilize and then start a slow decline. It is anticipated that stabilization in interest rates and more confidence should bring buyers back into the market who “paused” due to all of the uncertainty.

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 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, Pat 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 see available Lake of the Woods properties, please visit our site.

monthly stats

November 2022 Lake of the Woods Monthly Real Estate Statistics

In November, 16 homes were SOLD in Lake of the Woods.

2 sold below $250,000.00
1 sold between $250,000-299,999;
3 sold between $300-349,999;
3 sold between $350,000-399,999;
5 sold between $400-499,999;
2 sold between $500,000-$999,999;

60 Active/Coming Soon Listings for Sale
16 Homes Under Contract
284 Homes Sold since January 1, 2022.

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 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, Pat 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 see available Lake of the Woods properties, please visit our site.

market stats lake of the woods virginia 22508

October 2022 Lake of the Woods Monthly Market Statistics

In October, 15 homes were SOLD in Lake of the Woods.

0 sold below $250,000.00
2 sold between $250,000-299,999;
3 sold between $300-349,999;
5 sold between $350,000-399,999;
3 sold between $400-499,999;
2 sold between $500,000-$999,999;

39 Active/Coming Soon Listings for Sale
23 Homes Under Contract
245 Homes Sold since January 1, 2022.

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 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, Pat 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 see available Lake of the Woods properties, please visit our site.

July 2022 Lake of the Woods Virginia 22508 Real Estate Market Statistics

In July, 28 homes were SOLD in Lake of the Woods.

1 sold below $250,000.00
4 sold between $250,000-299,999;
10 sold between $300-349,999;
4 sold between $350,000-399,999;
7 sold between $400-499,999;
2 sold between $500,000-$999,999;

29 Active/Coming Soon Listings for Sale
37 Homes Under Contract
182 Homes Sold since January 1, 2022.

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 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, Pat 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 see available Lake of the Woods properties, please visit our site.

monthly stats

June 2022 Lake of the Woods Virginia 22508 Real Estate Market Statistics

In June, 35 homes were SOLD in Lake of the Woods.

1 sold below $250,000.00
4 sold between $250,000-299,999;
8 sold between $300-349,999;
8 sold between $350,000-399,999;
9 sold between $400-499,999;
4 sold between $500,000-$999,999;
1 sold over $1,000,000.

38 Active/Coming Soon Listings for Sale
32 Homes Under Contract
151 Homes Sold since January 1, 2022.

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 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, Pat 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 see available Lake of the Woods properties, please visit our site.

May 2022 Lake of the Woods Virginia 22508 Real Estate Market Statistics

In April, 31 homes SOLD in Lake of the Woods.

3 sold below $250,000.00
3 sold between $250,000-299,999;
5 sold between $300-349,999;
5 sold between $350,000-399,999;
9 sold between $400-499,999;
4 sold between $500,000-$999,999;
2 sold over $1,000,000.

35 Active/Coming Soon Listings for Sale
43 Homes Under Contract
115 Homes Sold since January 1, 2022.

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 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, 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.

April 2022 Lake of the Woods Market Statistics

In April, 24 homes SOLD in Lake of the Woods.

1 sold below $250,000.00
3 sold between $250,000-299,999;
5 sold between $300-349,999;
6 sold between $350,000-399,999;
4 sold between $400-499,999;
5 sold between $500,000-$999,999;
0 sold over $1,000,000.

25 Active/Coming Soon Listings for Sale
39 Homes Under Contract
85 Homes Sold since January 1, 2022.

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 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, 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

market stats lake of the woods virginia 22508

March 2022 Lake of the Woods Monthly Market Statistics!


In March, 23 homes SOLD in Lake of the Woods.

0 sold below $250,000.00
2 sold between $250,000-299,999;
7 sold between $300-349,999;
3 sold between $350,000-399,999;
8 sold between $400-499,999;
3 sold between $500,000-$999,999;
0 sold over $1,000,000!

19 Active/Coming Soon Listings for Sale
38 Homes Under Contract
58 Homes Sold since January 1, 2022.

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 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, 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

February 2022 Lake of the Woods Monthly Market Statistics!

In February, 14 homes SOLD in Lake of the Woods.

0 sold below $250,000.00
1 sold between $250,000-299,999;
3 sold between $300-349,999;
4 sold between $350,000-399,999;
4 sold between $400-499,999;
1 sold between $500,000-$999,999;
0 sold over $1,000,000!

15 Active/Coming Soon Listings for Sale
35 Homes Under Contract
31 Homes Sold since January 1, 2022.

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 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, 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