The Lake Anna real estate market continues to soar according to the recent data. Last year there were 105 waterfront homes sold and so far this year we have 74 sold and 26 pending for a total of 100 with five more months left in the year. There are a total of 95 waterfront homes currently on the market so buyers have lots of options. However, access homes are falling behind last year’s number mostly due to a shortage of available homes. We currently have only 57 access homes on the market. Last year there was a total of 143 access homes sold and so far this year we have 75 sold with 12 pending making it a total of 87.
Land sales are also on the rise and builder are buying and building spec homes at a higher rate since the housing crash of 2008. Last year 28 waterfront lots sold and so far this year we have a total of 27 with 7 of them pending and still more time to sell. Access lots are doing well too, currently 40 sold so far and last year there were 51 for the entire year. We also have a healthy inventory of waterfront & access lots available and lots of unique neighborhoods to choose from.
The current market data is definitely a sign of brighter days ahead for the Lake Anna market. According to other reports Virginia is experiencing a very hot real estate market especially in Northern Virginia. Housing prices are expected to continue to rise and this can only mean good news for Lake Anna. Buyers can also be excited about the rates after all it wasn’t too long ago that everyone was predicting rates in the 5’s. However the current rates are in the 3’s and may drop lower, some are predicting the upper 2’s. For buyers this could mean the difference of purchasing a four bedroom home instead of a three or even a waterfront home instead of a water access. The bottom line is, it is a great time to Sell & Buy at Lake Anna!
Once again I want to remind you that Lake Anna has much to offer and can accommodate most all budgets. From small fishing cabins to the high end luxury homes and everything in between. We currently have many beautiful waterfront and access lots to choose from too. So the time is right for you to get everyone together and come explore what Lake Anna has to offer your family.
I want to remind you of some recent noted advantages of owning a second home:
- Additional Income, the rental market is very stable at Lake Anna. Schedule your time at the lake, rent the remaining time and let your home pay down the mortgage.
- Your home also helps to builds personal wealth as your property grows in value.
- Vacation on Demand! Location, location! Lake Anna is centrally located and just over an hour commute from DC, NOVA, Fredericksburg, Richmond & Charlottesville. Maryland Residents enjoy the 2+ hour commute.
- There are tax advantages of owning a second home such as the mortgage interest deductions. Other tax advantages are available so speak with your CPA to make sure you take advantage of every dime!
- Purchase now for vacation and convert it to your fulltime retirement home.
- Full time or part time Lake Anna is a good investment!