The Lake Anna housing market is still rising although it is by a slight margin of homes sold this year compared to last year.
Last year 195 homes sold, including all homes plus the town homes. So far this year 231 homes have sold, including all pending sales.
A total of 93 waterfront homes sold last year, and so far this year we have 96 sold. Also, as usual the access home sales exceed the waterfront with a total of 135 sold.
Lake Anna is still considered a seller’s market, although we are straddling that fence between a seller and buyer’s market. That is mostly due to Lake Anna remaining a great investment in the short-term rental market.
The median sale price range for waterfront is $1,299,000 to $1,350,000. Lake access home medium sale prices have ranged from $499,000 to $549,000 with one selling for $1,000,000.
It is also notable to point out that out of the 231 that have sold this year, 64 of them sold for over $1 million, and the highest price home sold so far this year went for a whopping $3,400,000, which is located on the private side in Noah’s Landing.
Currently there are 84 homes on the market, and out of those 35 are waterfront and 49 are access homes.
Active days on the market has increased 14% this year due to the political environment with a presidential election, mortgage rates and home prices. Lucky for us Lake Anna is and has always been a place you want to be not a place you have to be, making Lake Anna homes a more desirable investment.
All in all, the Lake Anna market will still be shaped by the rising home prices, mortgage rates and inventory levels. The 2025 market is expected to have a more favorable outlook than 2024 as we expect the mortgage rates to decrease as the inflation rate is expected to lessen.
New home sales are expected to continue, as 27 have sold so far this year with 20 new homes currently active compared to 29 last year. I can also say with confidence that many more new homes have sold this year simply because they were done privately and not listed in the MLS.
Due to the increased prices of existing homes many buyers have decided to purchase a lot and build, which guarantees the buyer can get exactly what they want instead of purchasing a home that will need changes for their needs. Builders and building suppliers are definitely loving it!
Regarding the new homes sales, it is worth mentioning that currently there are only 55 lots on the market. Out of those, 25 are waterfront and 30 are lake access. Builders have been buying up the lots since new homes sales are soaring and much more attractive to buyers. This year there have been 145 lots sold at the lake compared to 136 last year.
If you are considering a move to the lake or just looking to purchase a weekend home, now is the time to get with a knowledgeable local real estate agent. Experience really does matter, and a local agent will be familiar with all the various communities at the lake including the difference between the public and private side. I cannot stress enough how important it is to have an agent that will be able to explain that and give you a true Lake Anna 101.
If you are looking to sell, now is also the time to explore your options and get with a seasoned local realtor who can provide you with real-time market conditions and a good marketing plan. Also keep in mind a well-priced and well-marketed home will sell quicker, so it is important you have a knowledgeable agent and a well-established brokerage behind you.
You can contact author, Libby Sandridge ofBerkshire Hathaway Home Services PenFed Realty at 540-223-0350.
