Real Estate trends in Lake of the Woods and Locust Grove, Va. for the month of September were in line with the overall trends for Orange County. The number of homes sold in Locust Grove increased nearly 24% from September a year ago with 26 homes sold compared with 21 in September 2012. The dollar value increased over 56% by almost $2.5 million. Additionally the days on the market decreased 17% with the average days on the market (DOM) of 107 days.
Of the 26 homes that sold 17 were below the $299,000 price range and 23 of the 26 homes sold were in Lake of the Woods. Additionally the average sold price to average original listing price (Avg OLP) was 91%, suggesting that the market is fairly robust for homes under the $300,000 price point that are listed at a price in line with the prevailing market conditions.
If you plan on listing your home, a call to Penny Ostlund, of the Ostlund Team, will connect you to one of the most experienced top-producing agents in Lake of the Woods. Penny is one of the top Coldwell Banker agents in the entire state, whose knowledge of the Lake of the Woods community is unsurpassed. Please contact Penny at 540.903.9372 or Charlie at 540.903.7796, and allow the “synergy of teamwork” to assist you and all of your real estate needs.