Lake Whippoorwill subdivision is located in Fauquier county on the DC side of Warrenton. There are approximately 130 homes here, almost entirely made up of colonials on large lots.
There are currently six homes for sale here. The prices range from $499,900 to $599,900. Actually, four of the six are listed for $599,900! The most recent listing has been for sale for 12 days. The longest any of these have been on the market is 323 days.
Eight homes have sold here in the last year. For those of you who have been following the subdivision market reports here, you'll notice this makes this the best we've looked at in terms of inventory. There is about 9 months worth of inventory for sale here. That's a vast improvement over any of the northern Culpeper county subdivisions we've looked at. One caveat, however. There are an additional 5 homes that have been for sale over this one year period and were withdrawn from the market and have never sold. Assuming the owners still wish to sell these homes this pushes the inventory to over a year's supply and more in line with the overall numbers for Fauquier county as a whole.
The longest it's taken anything to sell is 405 days. The shortest amount of time it's taken any home to sell is 11 days. The highest net sales price in the last year was $689,999. The lowest net sales price was $480,000. Homes have sold for an average of 96% of the final list price. There is clear evidence of the falling area prices here as the last two homes that have sold were the two that sold for the lowest prices.
Based on what the two most recent sales were here (net of $480,000 and $536,625) it is likely that further price reductions will be necessary to move the inventory here.
Something really interesting here is the close proximity of prices between this subdivision and South Wales in northern Culpeper County. How many people are going to drive that extra half hour each way for no significant reduction in price or increase in what they get for their money? More bad news for South Wales!
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