Tag Archives: real estate statistics

When Results Matter, the Licata Group Delivers!

By Pat Licata

Over the years, we have made it our mission to be the #1 performing brokerage in Lake of the Woods and Orange County. When we prepare your property for sale, negotiate on your behalf, and ensure that your home is sold in the least amount of time for the highest market value, we go above and beyond to provide you with the absolute best results. Our numbers prove it! Allow us the opportunity to present our proven, repeatable system that will work for you. Call us at 540/388-2541!

We look forward to continuing to provide you with the best service and being your preferred Real Estate advisors!

It’s another beautiful day at the lake!

market stats 2020

July 2020 Lake of the Woods Monthly Market Statistics

In July, 35 homes sold in Lake of the Woods.
2 sold between $130-200,000;
6 sold between $200-249,000;
8 sold between $249,900-299,000;
13 sold between $300-400,000;
0 sold between $400-500,000;
4 sold between $500-600,000;
1 sold between $700-900,000;
1 sold over $1,000,000.

31 Active Listings for Sale
54 Homes Under Contract
171 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.

market stats 2020

May 2020 Lake of the Woods Monthly Market Statistics

In May, 19 homes sold in Lake of the Woods.
1 sold between $130-200,000;
7 sold between $200-249,000;
7 sold between $250-299,000;
4 sold between $300-400,000;

44 Active Listings for Sale
61 Homes Under Contract
93 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.

market stats

April 2020 Lake of the Woods Market Statistics

In April, 20 homes sold in Lake of the Woods.
2 sold between $130-200,000;
7 sold between $200-249,000;
5 sold between $250-299,000;
6 sold between $300-400,000;

66 Active Listings for Sale
48 Homes Under Contract
33 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.

market stats 2020

The LOWdown on Real Estate at the Lake 2019 By Pat Licata

The continued inventory shortage experienced by most regions of the country was evident in Lake of the Woods again in 2019. Listings increased only 6.4%, from 373 in 2018 to 397 in 2019, while closed sales were up 28.6%. New construction accounted for 30 of the 301 sales. The median sold price increased a healthy 8% year over year from $249,900 to $270,000.

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Of the 301 total sales reported in 2019, only 5, or 1 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.

So let’s look at our steady growth over the past five years:

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In 2015, there were 247 sales, with 15% being distressed. Those total sales represented almost a 30% gain over 2014, and the median sales price was $210,000.  

In 2016, the market was quite flat compared to 2015 in regards to total sales, which held at 243 with a decrease in distressed sales to 11.1. However, 2016 saw the median price jump to $225,000, a healthy 7.1% increase.

In 2017, there were 294 total sales, a whopping 21.1% increase over 2016 with only 5.8% being distressed. The median sales price climbed to $239,000.

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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 127 in 2015 to 57 in 2019.

It’s also telling to note that a significant number of lots have sold in the past five years.  From January 1, 2015-Decemeber 31, 2019, 184 lots exchanged, with 41 occurring in 2019, down from 55 in 2018. There simply aren’t that many lots left in LOW.

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New construction has been climbing, as well. 2015 realized 41 new construction starts; in 2016, there were 28; in 2017, there were 30; in 2018, there were 34; and in 2019, there were 48.

In 2020, according to Freddie Mac and the Mortgage Bankers Association, mortgage rates are expected to stay within the 3.7-3.9% range.

The prognosis for 2020, as it was in 2019, is excellent! In LOW, there are 57 homes active on the market as of 1/14/2020. In January of 2018, there were 62. Low, stable rates and hopefully more inventory should propel us to experience healthy sales and appreciation.

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.

monthly stats

January 2020 Lake of the Woods Market Statistics

In January, 12 homes sold in Lake of the Woods.
3 sold between $130-200,000;
1 sold between $200-250,000;
4 sold between $250-300,000; 2 sold between $300-400,000;
2 sold above $650,000.

49 Active Listings for Sale
30 Homes Under Contract
12 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.

market stats 2020

December 2019 Lake of the Woods Market Statistics

In December, 17 homes sold in Lake of the Woods.
4 sold between $200-250,000;
5 sold between $250-300,000; 6 sold between $300-400,000;
2 sold above $650,000.

60 Active Listings for Sale
20 Homes Under Contract
301 Homes Sold since January 1, 2019.

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.

market stats 2020

November 2019 Market Statistics

In November, 16 homes sold in Lake of the Woods.
3 sold under $200,000; 6 sold between $200-250,000;
2 sold between $250-300,000; 4 sold between $300-400,000;
0 sold between $400-550,000; 1 sold above $550,000.

63 Active Listings for Sale
24 Homes Under Contract
283 Homes Sold since January 1, 2019.

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.

Helpful Tips for Selling Your Home during the Busy Holiday Season

Get ready to hang the lights, deck the halls, and spread some cheer—the holiday season is almost here! Juggling the holidays along with a home sale might be sound impossible (or at the very least, stressful), but we’re here to help you find the best way to balance both.

Here are our top 4 tips for navigating your home sale during the holiday season!

Use Decor to Your Advantage

Snowmen and twinkling lights set up as holiday decor for home sellers.

You don’t have to go all out with holiday decor, but a little seasonal warmth sprinkled here and there goes a long way! Hang some white lights along the staircase, add a wreath to the front door, and string some garland along the mantel. If you do opt for a tree, you’ll want to make sure it doesn’t crowd the room—perhaps even consider a tabletop version.

Bonus tip: scent is the sense most closely tied to memory, so use that to your advantage to appeal to buyer nostalgia! Bake some cookies beforehand, warm up a pot of cider, or light a few seasonally scented candles.

Be Flexible with Showings

A welcome sign hanging outside of a home being sold.

While you’ll probably have a busy schedule over the next month or two, you should make sure it doesn’t affect your availability for buyers too much. One of the biggest reasons people hold off on selling during the holidays is because they can’t be around to prepare their home…but intentionally making room in your schedule will make the whole process much simpler!

If you usually host a holiday party, consider asking a friend or relative to step in for you. If you’re traveling, try not to be gone for too long, and make it clear to your agent and any potential buyers when you’ll be back.

Work with a Home Stager (or Get Tips from Your Agent)

A modern coffee table decorated by a home stager.

If you either: A.) really don’t have time to stage or B.) don’t want to take any risks on your home not looking its best, then working with a qualified home stager is a great option! You might be skeptical, but home stagers have been specially trained and certified to optimize your space with the right decor and furniture—which often leads to faster and more profitable sales.

It’ll also take one more stressful task off of your plate, giving you more time to plan for the upcoming festivities. If you want a few recommendations for home stagers, just give us a call. Of course, we can always do a walkthrough of your home and offer personalized tips and DIY projects, if you’d prefer that!

Practice Smart Marketing

Two women meeting over a marketing plan for holiday home sellers.

Marketing a home is the key to reeling in the right buyer. It’s even more important during the holiday season, since fewer—but more serious—buyers are on the hunt. That’s where working with an agent really comes in handy! You can sit back, relax, and plan for the holidays, while we take care of getting the word out about your home through our comprehensive marketing resources, including our website, social media platforms, local advertising, professional contacts, and more.

And, of course, we’ll crunch the numbers and do the research to ensure that your home is priced at the best number for your interests.

List Your Home this Holiday Season

Balancing a home sale and the holidays can be stressful…but not if you work with a professional! Enlist our help, and we’ll be around to carry some of your workload, reduce your stress, and sell your home for top dollar—and answer any and all of your questions along the way. Ready to list your home? We’re just a phone call away!

Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Norther 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

Top 10 Features That Make Your Home Sell Faster

The first rule in home selling is to know your typical buyer. What most buyers would want to have in their homes is what will eventually sell it. How soon – this depends on how well it fits their needs. While you can’t fulfill everybody’s wishes, some features make your home sell faster than others.

What Buyers Want

You don’t have to get inside your buyer’s mind. Luckily, tips for selling a home are numerous and easy to find. They are based on surveys and statistics and are usually related to a specific market. While steam ovens and floor heating may be a good add-on to an upscale home, those upgrades simply won’t pay off for most sellers. What the majority of people want is a reliable, good-looking, practical, comfortable, and affordable home. The most common features that would make your home sell faster are

  1. Curb Appeal
  2. Ample Storage Space
  3. Sufficient Bedrooms
  4. Eat-in Kitchen
  5. Fresh Paint
  6. Energy-efficient Appliances & Windows
  7. Off-road Parking
  8. Renovated Bathrooms
  9. Hardwood Floors
  10. Modern Lighting

Start With Entrance

The first step to boost the appeal would be to declutter your home, which also applies to your yard if you have it. If the exterior of your house is impressive enough, only then the prospective buyer will come inside and check the rest. To sell your home faster, you need to show to your buyer that you took good care of your home. Nothing shouts good maintenance like a neat exterior. 

Outstanding curb appeal will make your home sell faster

You might not have enough space for a garden, however, even a small secluded patio with a pair of garden chairs or loungers and potted plants can create the feel of a cozy getaway that most new homeowners look for.

Room for the things

There aren’t many who can say that they have too much storage space. Those who need extra storage simply call Verified Movers and rent a storage facility but there is another option. With the help of experts, it is possible to create extra storage and exploit otherwise underutilized space. Additional space for belongings is especially important to families with kids because they have plenty of useful things they don’t want to dispose of even if they’re used only occasionally.

Walk-in pantry

In case there is enough extra space, usually 5×5 feet, creating a walk-in pantry in the kitchen is a big bonus. Non-perishables stored at the arms reach is something most would prefer. Even more so because they can save on the deals of bulk purchases. Walk-in pantries are affordable add-ons highly appreciated by families.

A kitchen with a walk-in pantry is a great asset

Walk-in closet

On the other hand, walk-in closets are added to master bedrooms and are perfect for empty-nesters in love with neatly organized apparel, jewelry, and accessories. This feature can be made as a part of the existing bedroom or placed in a separate, smaller room. Organizers and many shelving units are worth their price. Walk-in closets are perfect for couples who share storage space and are highly ranked among other features.

That extra bedroom

Nothing attracts buyers more than a cozy extra bedroom. A guest bedroom is best suited for loft space. After all, having a new bedroom in the attic is much better than blocking the garage. If you opt for the renovation of your loft space, consider adding a new small bathroom or at least a WC.

Hearth of your home

Making an eat-in kitchen would leave a good impression on families with children. Resurfacing cabinets and repainting walls is the least you can do to make your kitchen more attractive. A new trend and a highly popular and affordable one is adding lighting under cabinets. The effect is to give your kitchen depth and visually make the ceiling higher. 

There is nothing as attractive as new appliances so the first and most important on the list should be a fridge. Prospective buyers are impressed with spacious and clean refrigerators as this is the appliance they will use the most.

A new coat

The most affordable and yet the best investment is fresh paint. Repainting your walls and ceilings and adding a new coat on the outside leaves a good first impression. Natural lighting is one of the most beneficial features a home could have. Bright walls that reflect natural light will make space visually larger and have a good psychological effect on visitors. If you wish to attract buyers moving to Virginia from another state, for example, you should stick to neutral colors, appealing to many.

Energy-efficient walls, windows, and appliances

If nothing else makes people care about the environment it’s the savings they secure by installing energy-efficient windows, adding insulation to their walls and purchasing energy star rated appliances. Any of these features would greatly appeal to millennials. They are both environmentally and financially conscious. Keeping the heat inside will help them keep their cool, too.

Room for your car

It is difficult to imagine getting anywhere without a car nowadays and having an (at least one) parking slot is a big asset to a home. If your garage space has been repurposed, make sure that you keep at least one off-road parking slot. 

One of the first things buyers ask the real estate agents is if there’s a garage/parking space available. You too might need to hire a lawyer or a real estate agent if you’re buying a new property at the same time you’re selling. A garage can serve as additional storage and as such is indispensable.

Fresh & Clean

A tidy and crisp bathroom is a feature no one is immune to, and refurbishing one is a must. A bathroom is perhaps the only room in the house that is easy to look luxurious and impressive with a relatively small investment.

Hardwood floors

Hardwood floors are durable and lasting and as a feature, they appeal to everybody. And why not; they are easy to maintain and keep clean.

Interior and exterior lighting

Modern exterior lighting is an add-on that sets your house apart. While an exterior illumination boosts your curb appeal, interior lighting is an affordable feature that will make your home sell faster.

Whether you’re looking for homes for sale in Fredericksburg, Stafford, Orange, Locust Grove, Norther 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 lakeofthewoodsvirginia.com