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.
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.
Welcome to Jacobs Ford the 38.45-acre outdoorsman’s dream. The partially wooded lot is great for hunting, camping in the woods with family, ATV trails, horseback riding, or farming. This land offers several good homesites with a small creek running through it. So bring your home plans, tree stand, ATVs, horses, or livestock to Jacobs Ford road and start building your legacy, and make your dreams come true.
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.
Welcome home to 314 Piedmont street. Located in the town of Orange county the home sits on a corner lot within walking distance of downtown restaurants and shopping. The home offers 3 bedrooms, and one bath on the main level, where the walk-out basement has a laundry room, workshop, den, and two large rooms that can be used for bedrooms/game/craft/storage whatever fits your needs. The driveway is large enough for multiple cars, a boat, or a camper. The yard offers plenty of space for kids/pets to play or for family gatherings.
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.
Welcome to 104 Federal Rd, providing a newly sealed driveway on the exterior and fresh paint on the interior! The expansive great room will become a favorite spot when you’re not enjoying the sunroom! The open floor plan and eat-in kitchen will make entertaining or hosting family a breeze. Privacy is offered by the split floor plan, with the primary bedroom and en-suite bath separated from the two additional bedrooms and hall full bath. The primary suite is complete with jetted tub and a separate shower in the en-suite bath, so you may soak the day away! This spectacular home is located in a private, gated, secured community, Lake of the Woods, that offers anything and everything you could possibly want.
Located in Lake of the Woods, a private, gated, secured community, Lake of the Woods offers anything and everything you could possibly want. Home to two lakes (the 550-acre main lake and a 35-acre “fishing lake”), a golf course, an equestrian center, a fire and rescue department, and a church all within the gates, Lake of the Woods simply has it all. Whether your passion is boating, water skiing, kayaking, golfing, horseback riding, or simply taking in the breathtaking views from the clubhouse while enjoying a fabulous meal, from your own deck or yard, or from one of the beaches, you won’t be disappointed! Perhaps you’d like a game of bridge or volunteer your time and talents…Lake of the Woods offers more than 60 clubs and/or organizations from which you may choose to become involved. Located in Orange County, we are fortunate to enjoy low real estate taxes. Coupled with home prices ranging from $200,000+ to over $2,000,000, Lake of the Woods is the perfect community for both full-time residents, as well as weekenders. But don’t take my word for it, please come see for yourself! I will gladly give you a tour of Lake of the Woods by boat and by car so that you may experience what’s to love 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 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.
Welcome to 622 Cornwallis Avenue! Imagine the lifestyle you’ll experience and the memories you’ll create in this fantastic waterfront home featuring amazing main lake views, spectacular sunrises, and ample room for large gatherings! Every bedroom enjoys the water views, and all offer outdoor access! As you arrive, you’ll immediately notice the private setting near the end of a cul-de-sac, and be wowed by the main lake views! Step inside, and you’ll immediately be greeted by lake views, an open floor plan, and a living room with an incredible floor-to-ceiling stone fireplace to warm those chilly evenings. The kitchen provides all the amenities with stainless steel appliances and a generous-sized breakfast bar that leads to the expansive screened porch perfect for early morning coffee or simply relaxing. The main level is completed by the primary bedroom with an ensuite bath and laundry room. Ascending the stairs to the upper level, you’ll find two large bedrooms that provide lake views and a full bath. The lower level is sure to please! Descending the stairs, you are greeted by a huge family room with a gorgeous brick fireplace and a bar area that accesses the concrete patio for outdoor enjoyment. The lower level also boasts an additional bedroom, full bath, and large storage room for all those water toys. Of course, the water frontage is spectacular! Swim from your dock, launch your canoe or kayak, hop on your boat for a day of fun, or simply bask in the sun waterside from your own private oasis! Let’s get this lake life started!
A private, gated, secured community, Lake of the Woods offers anything and everything you could possibly want. Home to two lakes (the 550-acre main lake and a 35-acre “fishing lake”), a golf course, an equestrian center, a fire, and rescue department, and a church all within the gates, Lake of the Woods simply has it all. Whether your passion is boating, water skiing, kayaking, golfing, horseback riding, or simply taking in the breathtaking views from the clubhouse while enjoying a fabulous meal, from your own deck or yard, or from one of the beaches, you won’t be disappointed! Perhaps you’d like a game of bridge or volunteer your time and talents…Lake of the Woods offers more than 60 clubs and/or organizations from which you may choose to become involved. Located in Orange County, we are fortunate to enjoy low real estate taxes. Coupled with home prices ranging from $200,000+ to over $2,000,000, Lake of the Woods is the perfect community for both full-time residents, as well as weekenders. But don’t take my word for it, please come see for yourself! I will gladly give you a tour of Lake of the Woods by boat and by car so that you may experience what’s to love 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 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.
1120 lakeview pkwy, lake of the woods virginia home for sale
Welcome to 1120 Lakeview Parkway, where you’ll be wowed by the fine features of this immaculately kept home! Gleaming hardwood floors, updated kitchen and baths, huge loft and 4th bedroom/flex space make this one the one! Boasting an open floorplan of 2700+ sq ft of expansive rooms, entertaining or simply living with ease is a breeze! The upper-level space offers endless possibilities; craft room, quilting, classroom, office, bedroom, and 2nd living area…what’s best for you? The wrap-around deck is perfect for enjoying your level backyard backing to trees for sought-after privacy. Is a workshop, studio, craft room, or more storage what you’re seeking? Look no further! The property conveys a storage loft in the garage and a large shed with electricity.
A private, gated, secured community, Lake of the Woods offers anything and everything you could possibly want. Home to two lakes (the 550 acre main lake and a 35 acre “fishing lake”), a golf course, an equestrian center, a fire and rescue department, and a church all within the gates, Lake of the Woods simply has it all. Whether your passion is boating, water skiing, kayaking, golfing, horseback riding, or simply taking in the breathtaking views from the clubhouse while enjoying a fabulous meal, from your own deck or yard, or from one of the beaches, you won’t be disappointed! Perhaps you’d like a game of bridge or volunteer your time and talents…Lake of the Woods offers more than 60 clubs and/or organizations from which you may choose to become involved. Located in Orange County, we are fortunate to enjoy low real estate taxes. Coupled with home prices ranging from $200,000+ to over $2,000,000, Lake of the Woods is the perfect community for both full-time residents, as well as weekenders. But don’t take my word for it, please come see for yourself! I will gladly give you a tour of Lake of the Woods by boat and by car so that you may experience what’s to love 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 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.
Welcome to 1300 Eastover, where you’ll enjoy fantastic water views every day! Kayak, boat, canoe, and fish with ease from your own lushly landscaped backyard! When not enjoying water activities, relax in your sunroom or on your deck while admiring your gorgeous gardens and view of serene Keaton’s Lake. The updated kitchen and cozy fireplace welcome your family and guests. The main level boasts the primary bedroom with ensuite bath and a second bedroom, along with another updated baths. Descending the stairs to the expansive lower-level family room, you’ll immediately notice that it provides a second living area, including a wet bar and a second fireplace, as well as access to the patio and lake. The third bedroom provides access to the patio and onto the gardens with pathways winding to the lake. You’ll appreciate the amazing updates that have been ongoing in this fantastic home featuring almost 2500 sq ft since 2013: Tesla solar panels and power wall, new siding and gutters, new HVAC (including ductwork), new roof, new water heater, lake pump for landscape watering, carpeting, garage door…the list goes on! Why not see for yourself? A boat tour is gladly provided!
A private, gated, secured community, Lake of the Woods offers anything and everything you could possibly want. Home to two lakes (the 550-acre main lake and a 35-acre “fishing lake”), a golf course, an equestrian center, a fire and rescue department, and a church all within the gates, Lake of the Woods simply has it all. Whether your passion is boating, water skiing, kayaking, golfing, horseback riding, or simply taking in the breathtaking views from the clubhouse while enjoying a fabulous meal, from your own deck or yard, or from one of the beaches, you won’t be disappointed! Perhaps you’d like a game of bridge or volunteer your time and talents…Lake of the Woods offers more than 60 clubs and/or organizations from which you may choose to become involved. Located in Orange County, we are fortunate to enjoy low real estate taxes. Coupled with home prices ranging from $200,000+ to over $2,000,000, Lake of the Woods is the perfect community for both full-time residents, as well as weekenders. But don’t take my word for it, please come see for yourself! I will gladly give you a tour of Lake of the Woods by boat and by car so that you may experience what’s to love 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 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.
Welcome to 3927 Lakeview Pkwy! You’ll be wowed the moment you enter by gleaming hardwood floors, light-filled rooms, and a spacious, open floor plan. The chef’s kitchen will make hosting your friends and family a breeze. The expansive back deck serves as an additional entertaining area, with access off the kitchen. The generous-sized primary suite with ensuite bath will be the perfect place to retreat at the end of a long day. Two additional bedrooms and a full bath complete this beautiful home. Enjoy gardening or relaxing in your backyard that feels like a park-like setting.
A private, gated, secured community, Lake of the Woods offers anything and everything you could possibly want. Home to two lakes (the 550-acre main lake and a 35-acre “fishing lake”), a golf course, an equestrian center, a fire and rescue department, and a church all within the gates, Lake of the Woods simply has it all. Whether your passion is boating, water skiing, kayaking, golfing, horseback riding, or simply taking in the breathtaking views from the clubhouse while enjoying a fabulous meal, from your own deck or yard, or from one of the beaches, you won’t be disappointed! Perhaps you’d like a game of bridge or volunteer your time and talents…Lake of the Woods offers more than 60 clubs and/or organizations from which you may choose to become involved. Located in Orange County, we are fortunate to enjoy low real estate taxes. Coupled with home prices ranging from $200,000+ to over $2,000,000, Lake of the Woods is the perfect community for both full-time residents, as well as weekenders. But don’t take my word for it, please come see for yourself! I will gladly give you a tour of Lake of the Woods by boat and by car so that you may experience what’s to love 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 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.
In August, 32 homes were SOLD in Lake of the Woods.
2 sold below $250,000.00 5 sold between $250,000-299,999; 8 sold between $300-349,999; 6 sold between $350,000-399,999; 9 sold between $400-499,999; 2 sold between $500,000-$999,999;
28 Active/Coming Soon Listings for Sale 20 Homes Under Contract 216 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.
