Land sales generally lag well behind home sales and this period has been no different.  As long as resale homes are considered, and rightly so, a good buy purchasers will tend to choose that over selecting land and than going through the building process.

However, there are always those that have a specific type of home that they desire and realize the best way to achieve it is to build.  There are also those that decide to buy land, pay it off, and then proceed to build.

We have experienced a very large reduction in the prices of water access land...land that is not waterfront but is located within a waterfront community.  Fortunately waterfront lots have retained their value much better.  Of course that is largely because there is so much less of it.

Lake Anna Lots Sold - August, September, and October 2011

The listings that show numbers in the Waterfrontage column are those with actual waterfront.  As can be seen, those that are waterfront command a higher price.  However, pricing waterfront land requires other consideration as well as the amount of shoreline.  It is also dependent on the view as well as the depth of the water. 

It is also important to note that Days on the Market (DOMM) is not always the actual number of days that the land has been for sale.  Often, with houses as well as land, when sellers change agents the listing is enter into the system again and the number of days on the market might start over at zero.  If the time between listings is 90 days or greater that will always be true.

*Information provided by Metropolitan Regional Information Systems, Inc. (MRIS)

 

 ©Copyright Kate Elim 2012

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GET MOVING WITH KATE!

540-226-1964 cell

lakeanna.kate@gmail.com

For easy property searches check out my web site: katesellslakeanna.com

 

 
This post has been included in Virginia Real Estate News Spotsylvania County, VA Real Estate News Spotsylvania, VA Real Estate News Lake Anna (Spotsylvania, VA) Real Estate News
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Kate Elim, Realtor® 540-226-1964 Selling Homes & Land at LAKE ANNA

Spotsylvania, VA

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Dockside Realty

Address: 4634 Courthouse Road, Mineral, VA, 23117

Office Phone: (540) 895-9400

Cell Phone: (540) 226-1964

Email Me

Kathleen "Kate" Elim
Dockside Realty
4634 Courthouse Road
Mineral , VA , 23117 United States
540-226-1964

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