BY LIBBY SANDRIDGE

Heading into the summer vacation season, the home for sale inventory at Lake Anna is healthy and prices are starting to come down. 

 As of July there were 135 homes on the market, of which 56 are waterfront homes and 79 are lake-access homes. 

  Land remains more difficult to find, with just 56 lots available, including 24 waterfront lots and 32 access lots. 

  With more homes available and prices softening, buyers are gaining a little more leverage, though many are still waiting for mortgage rates to drop. 

  Investors are still looking for short-term rental opportunities since the lake has become a top destination for vacationers. 

  Because homes are sitting on the market longer, sellers are starting to adjust by setting more realistic prices to attract buyers. 

  For resale-home sellers, the biggest challenge is competing with the many new homes that have come onto the market over the past several years. So, updating existing homes is a must to achieve top dollar.

   Let take a look at actual sales numbers for the year to date. So far this year, 115 homes have sold at the lake, including 40 waterfront homes and 75 lake-access homes. Another 40 homes are currently pending, which would bring total home sales to 155. 

  Land sales remain on the low side, with 46 lots sold so far this year and 17 more pending, bringing the potential total to 63 land sales.

   Many economists are predicting that the last half of the year will continue to shift towards a more normalized market, and home prices will continue to cool.   

  The 30-year fixed rate is also expected to average around 6.3%, and along with home prices coming down, this is making Lake Anna home ownership slightly more attainable.

   Lake Anna is a unique market so if you are planning on selling or buying you need an experienced local agent to help you achieve your goals. 

  Lake Anna is a beautiful place, and we love our community so get with a local agent to help you navigate the gorgeous shores of Lake Anna to find your own piece of paradise.

Editor’s Note: You can contact the author, realtor Libby Sandridge, Realtor at 540-223-0350, brokered by BHHS PenFed Realty.