2021 proved to be a great year for Lake of the Woods real estate! Year-over-year, homes sales were up, median sold price was up, days on the market were down, and average sold to original list price ratio was above 100%!
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. 2020 showed a slight gain in sales at 313, yet the median sold price increased 7.87% to $291,250, up from $270,000 in 2019. And then came the 2021 market: a whopping 14.7% increase in the number of homes sold and a median sold price increase of 15.9 percent over 2020.
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 93 in 2017 to 16 in 2021.
It’s also telling to note that a significant number of lots have sold in the past five years. From January 1, 2017 through December 31, 2021, a total of 196 lots sold: 24 in 2016; 37 in 2017; 45 in 2018, 41 in 2019; 49 in 2020; and only 24 in 20201. Coincidentally, 2016 and 2021 realized the identical number of lot sales (reported in the MLS). There simply are very few lots left in LOW.
Of the MLS sales reported in 2017-2021, new construction numbers have varied. 2017 saw 20 new construction homes sales; 2018 dipped to only 11; 2019 realized 31; 2020 sales jumped to 41, while 2021 ended at 37.
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 has steadily risen from 95.5% in 2017 to 100.9% in 2021.
According to Freddie Mac and the Mortgage Bankers Association, mortgage rates are expected to rise and end 2022 in the 3.75-4% range for a 30-year fixed. Today, it is possible to obtain a 15-year fixed rate just under 3%.
The prognosis for 2022 is excellent! In LOW, there are 15 homes active on the market as of 1/26/2022. Low rates and hopefully more inventory should propel us to experience another year of healthy sales and appreciation, although appreciation is expected to slow from what we’ve experienced the past two years.
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.
Welcome home to 103 Marble Ct! This fabulous, custom-built home on the golf course is move-in ready and will delight from the moment you arrive. Once you enter, you are welcomed by a living room with soaring ceilings and built in shelving. The kitchen boasts beautiful new quartz countertops and a dining area. The sunroom will be one of your favorite areas with access to the deck and backyard. When it comes to entertaining, there is plenty of space for everyone with the separate formal dining room, spacious living room and a family room, both with wood burning fireplaces. The inviting owner’s suite is spacious, and the en-suite bathroom offers a double vanity and jetted soaking tub. The large second bedroom with an attached powder room shares a full bath with the third bedroom. Enjoy your favorite beverage, read a book, or just relax and take in the sounds of nature while relaxing on the deck.
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 volunteering 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 why I love 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 contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Welcome to 35142 Saba Place, a beautiful end unit townhome with lots of natural light. As you enter, you will immediately notice the kitchen featuring a breakfast bar, plentiful counter space and a pantry. The main level is open and will make entertaining and daily life a breeze! The spacious owner’s suite and en-suite bath with soaking tub, separate shower, and a huge walk in closet are sure to please! In addition to the owner’s suite, the upper level offers two additional bedrooms and full bath. The lower level features a bedroom and a full bath with a private entrance. Grab your favorite beverage and relax on your deck or your patio.
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.
Welcome home to 124 Saylers Creek in amenity-rich Lake of the Woods! You’ll love the location close to the pool, parks, and Community Center! Upon entering, the light-filled living room with soaring, beamed ceilings and a stone gas fireplace for those chilly nights will wow you. The kitchen boasts all the amenities and a dining area with access to the sunroom. The sought after split bedroom design will delight with the owner’s suite boasting an en-suite bath, and walk in closet. Relax in the sunroom overlooking your private, level backyard perfect for gardening, and enjoying outdoor activities. This home also features a two-car detached garage that would be perfect for a workshop.
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 volunteering 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 the mid-$200,000s to over $2,000,000, Lake of the Woods is the perfect community for both full-time residents, and 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 why I love 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 contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Welcome to 210 Meadowview Lane! You’ll love the value that this awesome house, located near the front gate and golf course, provides! Once inside, you are greeted by gleaming hardwood floors in living room and a kitchen that boasts beautiful cabinetry and a beautiful view from the window. The living room leads to the spacious dining room that includes a gas fireplace and built-ins. You will love the expansive main level owner’s suite with en-suite bath. Upstairs, you’ll find two more bedrooms and another full bath that are sure to please. Located on an oversized lot with a level backyard that is perfect for gardening and/or a play area.
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 volunteering 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 the mid-$100,000s 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 why I love 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 contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
0 sold between $130-199,999; 0 sold between $200-249,999; 4 sold between $250,000-299,999; 9 sold between $300-349,999; 7 sold between $350,000-399,999; 2 sold between $400-499,999; 0 sold between $500,000-$999,999; 1 sold over $1,000,000!
18 Active/Coming Soon Listings for Sale 25 Homes Under Contract 359 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 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
Welcome to 35295 Wilderness Shores Way! As you pull into the driveway, you will notice the amazing front porch and paved driveway that welcome you. Once you go inside, you will love the archways that you go through for each room and see that the kitchen is spacious with all the amenities for the chef of the family. On those cold nights, cozy up to the wood-burning fireplace in the living room. The flex space that the main level offers will delight you, keep it a formal dining room or make it an office. As you walk through to the upper level, you will love the owner’s suite that is spacious and boasts an en-suite bath, three additional bedrooms, and a full bath. Relax on your spacious deck with your favorite beverage or cookout and entertain family and friends. The level backyard will make gardening and playing a breeze. The home features paramount windows with a lifetime warranty, new gutter guards, and a new garage door. Also, the house has an ADT security system with cameras on the outside already installed. You will fall in love with the Wilderness Shores subdivision. Centrally located between Culpeper and Fredericksburg and 30 mins from the town of Orange!
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.
Come see what lake life is all about! Imagine being within walking distance to the nearest beach, Greensprings Park, and convenient to the members-only back gate! These are just a few reasons why this is the one! Enjoy one-level living with brand-new laminate, a spacious living room with a wood-burning stone fireplace, cathedral ceilings and sought-after split bedroom design. The kitchen features plenty of space to spread out with all the amenities. Flex space is needed today more than ever, and that’s just what you have in this move-in ready home; make it an office, family room or dining area…your choice! You will also love the owner’s suite with walk-in closet and en-suite bath. Relax on your screened porch or deck with your favorite beverage and enjoy a meal overlooking a treed and private backyard, or entertain family and friends.
331 Stratford, Lake of the Woods Virginia 22508 For Sale at $279,900 by the Licata Group EXP Realty
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 volunteering 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 why I love 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 contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Welcome to the waterfront lifestyle that 225 Harpers Ferry Drive delivers! If the most incredible, expansive main lake views, spectacular sunrises, and 260 feet of deep, clean water are what you crave, then you will fall in love! Relax and soak in the sun or entertain on your own deck or dock! Bring your boat and all of your water toys and start living the lake life! This spectacular home features views, views, and more views from most rooms, an open floor plan, hardwood floors on the main level, and a living room with a cozy stone fireplace. The gourmet kitchen boasts granite counters, stainless steel appliances, and opens to the deck! The upper level offers two generously-sized bedroom suites with en-suite baths, two additional large bedrooms and another full bath!! Combine all of these features with plenty of storage space and a two car garage, you’ve found your perfect place at the lake! Just imagine the memories you will make at this awesome waterfront home!
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 volunteering 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 why I love 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 contact Pat Licata.
To see available Lake of the Woods properties, please visit our site.
Many of the dynamics seen in 2021 will carry through into next year’s housing market, but at a much less frenzied pace.
As remote work becomes a more permanent, widespread option, Millennials are taking advantage and entering the real estate market.
We’re ready for another seller’s market. Like last year, there isn’t time to waste—contact us to start planning now!
What Buyers and Sellers Need to Know About the 2022 Housing Market
In the final few weeks of 2021, both home buyers and sellers look forward to what lies ahead in 2022. We can help build your strategy to stay competitive! Don’t wait for the real estate market to heat up during the spring and summer. Here’s what you need to know to get ahead of the competition next year.
First-time home buyers can overcome the challenging market
Recent real estate forecasts suggest that competitive will be the defining characteristic of the housing market throughout 2022. That will be especially true for first-time home buyers.
Competing levels of low inventory supply and high buyer demand will continue to hold housing market values at, or above, asking prices. Total inventory will increase by the end of 2022, but it will not be enough to slow the seller’s market.
For first-time home buyers to secure their house, they need to start early and expect competition. On a positive note, low interest rates can help new homeowners build equity faster.
Millennials are working remotely and finally buying homes
A lot has changed in these last two years. Buzzwords like “the new normal” were everywhere, along with speculations about how people lived, worked, and commuted were going to change. As we enter into 2022, we now have data reports and are beginning to see how these changes affect the housing market.
The ability to work remotely is helping the more than 45 million Millennials that make up the fastest growing segment of buyers. After an uphill battle, they’re entering the prime first-time home buying age range of 26 – 35, and changing the real estate landscape.
Millennials are leaving the glamour of big city life to take advantage of more affordable housing markets in suburbs and rural areas. As long as they have internet access, their salary remains the same. And unsurprisingly, 99% of them use technology to research the home buying market.
With 90% of managers and employees reporting that they’re happy working from home, and productivity increasing by as much as 47%, remote work is here to stay. The new normal will also create new investment opportunities as companies seek to reduce their office sizes.
Low inventory stretches into the new year
After years of underbuilding, housing supply shortages will continue to be a dominant feature of the market next year. One of the most significant factors that will carry over immediately from last year is low inventory supply.
Available housing will remain tight throughout the year. While that will generate some stress, it will also drive home values higher. Estimates of continued home sales growth will be 6.6%.
While housing inventory levels will remain lower than their pre-pandemic levels throughout 2022, a modest 0.3% growth in inventory should be enough to keep market prices from spiraling even further upward.
Sellers remain in control of the market
As we look ahead to 2022, some clear realities for the housing market begin to appear: it will remain a seller’s market. Interest rates continue to hover around a record-low 3%, providing incentives for sellers to upgrade to a larger home for a lower monthly payment.
After the refinance boom in 2020, homeowners are still in an advantageous position. With home sales expected to hit their highest level in 16 years due to Millennials entering the housing market, sellers sit in a very good position to profit. If accurately priced and, more importantly, if houses are in great condition with upgrades throughout, the real estate market will continue to be a boon for sellers.
Be Prepared for a Competitive Year
The new normal in 2022 turns out to be an old adage: the early bird gets the worm. We have the experience and can move quickly to make sure you stay competitive, regardless of whether you’re buying or selling. Contact us today to make your plan for the new year!
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.
