Tag Archives: real estate

market stats

The LOW-down on Real Estate at the Lake 2020 By 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

market stats 2020

Lake of the Woods December 2020 Market Statistics


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.

Spectacular Home For Sale in Lake of the Woods, VA! 101 Silver Spring Drive Offered at $274,900 Now UNDER CONTRACT!!

You will love what this spacious home has to offer! Located in amenity-rich Lake of the Woods, this house is perfectly situated on a large corner lot. The interior delights with a spacious, light filled living room, large eat-in kitchen with an island, plenty of counter space and a formal dining room. The upper level is where you will find the owner’s suite with en-suite bath and large closet, along with two additional bedrooms and a full bath. Home has been freshly painted and new carpet installed in the living room and bedrooms. If that isn’t enough, the lower level features a family room with a brick fireplace, wet bar, built in shelving, another full bath, and separate laundry area! The oversized garage is perfect for the car enthusiast or woodworking, gardening or even for a craft area. Enjoy sitting on the huge deck listening to the sounds of nature. For more information on 101 Silver Spring Drive, 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.

WATERFRONT Home For Sale in Lake of the Woods, VA! 102 Surrey Lane Offered at $749,900 Now UNDER CONTRACT!

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.

LOT For Sale in Lake of the Woods, VA! 205 Edgehill Drive Now UNDER CONTRACT!

Welcome to 205 Edgehill Drive… a fabulous lot within walking distance to a beach on which to build your perfect home in sought after Lake of the Woods! Mature trees and close to the front gate make this the one! So get your lake life started by building your perfect place at the lake on one of the few remaining lots! For more information on 205 Edgehill Drive, 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.

Fabulous Home For Sale in Lake of the Woods, VA! 200 Meadowview Lane Now SOLD!!

Welcome to 200 Meadowview Lane! You’ll love the value that this great house, located near the front gate and golf course, provides! Warming up in front of the cozy living room wood burning fireplace in winter and relaxing on the expansive front porch in summer will become favorites! Once inside, you are greeted by newly refinished, gleaming hardwood floors in living room that continue into dining area and kitchen. The living room leads to the dining area and kitchen that boasts beautiful cabinetry and tiled backsplash. You will love the spacious family room/flex space full of light that is accessible from the side foyer as well as kitchen. The main level owner’s suite with en-suite bath, as well as two additional bedrooms and full bath, are sure to please. The lower level features a recreation room/flex space, laundry room, and oversized one car garage. For more information on 200 Meadowview 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.

Stellar Home on 7+ acres For Sale in Fredericksburg, VA! 12605 Mill Road Now UNDER CONTRACT!!

The picturesque setting is the perfect backdrop for this spectacular, one of a kind custom built home on 7+ private acres with pond close to everything Fredericksburg/Spotsy has to offer. You are welcomed by a grand, inviting front porch that provides a glimpse of what’s to come inside while providing gorgeous views outside. Once you enter, you are wowed by the incredible soaring ceilings, gleaming hardwood floors, and overall grandeur of this fabulous home. As you enter the living room, the true center of the home, you will make memories with family and friends gathering, enjoying the soaring ceilings and warmth of the gas fireplace. The gourmet kitchen is also grand in size, offering all the fine finishes you can imagine: granite countertops, upgraded cabinets, grand island with wet sink, and stainless steel high end appliances. With ease, you will enjoy your morning coffee and paper on the screened porch, accessible from both kitchen and living room. The light-filled formal dining room flows graciously from the kitchen–perfect for those large holiday gatherings.

The laundry room, tucked away behind pocket doors, will be the envy of all. There’s plenty of room for washer, dryer, cabinets, sink and folding area. A sought after main level owner’s suite offers french doors to the deck overlooking the inground pool, and gorgeous pastoral, wooded views. The owner’s bath provides all the amenities you’d expect: elegant soaking tub, double granite vanity, private shower, and huge walk in closet. The stunning open stairway leads to the upper level, boasting a loft overlooking the living room and two spacious bedrooms, each with en-suite baths. The lower level will delight with an additional bedroom, full bath, office/flex space, exercise room and expansive family room with french doors that lead to the patio. Off of the patio, which features built in bar seating, lies the amazing inground pool. Wait… there’s more! Above the garage you’ll find an incredible in-law/teen suite (with inside main house access), which includes a full kitchen, center island, dining room, family room and bedroom with en-suite full bath. Wait…there’s even more! The possibilities are totally endless for the barn: run a business, house your car collection, use as a workshop, or as an office. While a picture paints a thousand words, you truly must see this special offering. For more information on 12605 Mill Road, Click Here!

 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

market stats 2020

Lake of the Woods November 2020 Market Stats

In November, 20 homes sold in Lake of the Woods.
1 sold between $130-200,000;
4 sold between $200-249,000;
4 sold between $249,900-299,000;
9 sold between $300-399,000;
2 sold between $400-599,000;

18 Active Listings for Sale
51 Homes Under Contract
286 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.

Picture-Perfect Home For Sale in Lake of the Woods, VA! 4603 Lakeview Pkwy Now SOLD!!

Welcome to 4603 Lakeview Parkway! This meticulous, move-in ready, Lake of the Woods home will wow you! Once inside, you will love the open floor plan, all the updates and the split bedroom design. The great room delights with soaring ceilings, tons of windows and a fireplace for those chilly nights. Enjoy cooking and entertaining in this beautiful kitchen with a pantry, island and open to the formal dining room. You’ll be impressed by the incredible owner’s suite with an inviting en-suite bath and access to the deck. Relaxing on your screened porch and wraparound deck, while enjoying the sounds of nature, may become a favorite pastime. Proximity to front gate makes this one, the one! Get your lake life started today! For more information on 4603 Lakeview Parkway, 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.

Spectacular WATERFRONT Home For Sale in Lake of the Woods, VA! 146 Harrison Circle Now SOLD!!

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.