The Fredericksburg region’s luxury home market finished out the decade with 20 houses selling for more than $1 million in 2019.
The 10 highest-priced houses had a few things in common. Most of them are on the water, they all have a lot of square footage, they all have wood floors and most sit on a hefty amount of land.
But according to real estate agent Janel O’Malley of Coldwell Banker Elite, one hallmark of these homes stands out: All of them were recently built or very recently renovated.
O’Malley has worked in the local luxury home market for 35 years locally and said today’s high-end buyer is an empty-nester, less concerned with school districts and more interested in architecture, location and modern conveniences like elevators.
She said the high-priced homes have the latest technology in appliances and security, and the kitchens and bathrooms were very recently renovated. She said there were homes in the city that sold in 2019 for less than they could have because no recent updates were done.
The highest-priced home in the region was in Culpeper County. It fits the above criteria and more. It is historic, has water and mountain views, a lot of land and recently upgraded amenities. Built in the 1820s, Horseshoe Farm, located along the Rapidan and Robinson rivers, is a historic Greek Revival home that includes six bedrooms, five full baths, two half-baths and eight fireplaces. The house sold for $1.8 million in October.
The second home on the list sold for $1.55 million in Spotsylvania County in November. On five acres in the North Club Estates neighborhood next to the Fredericksburg Country Club, it has private access to the Rappahannock River. Thanks to recent additions and renovations, it has up-to-date amenities.
O’Malley said 10 homes in Spotsylvania sold for more than $1 million, and most of them were on the water.
Also in Spotsylvania County was the No. 3 home on the list, selling for $1.499 million. On Windsor Rose Drive in Bumpass, the house overlooks Lake Anna and sits on almost two acres. It has a private beach, five bedrooms and seven bathrooms. The real star is its kitchen, with two refrigerators and two dishwashers.
Another home on Lake Anna—on Governor’s Point Lane—sold for $1.2 million. Like many of the others on this list, it is a waterfront home, with recent updates and little extras like electric boat lifts and a home theater room.
The only property in the city to make the top 10 was the third-floor condo at 425 William St. Built just a few years ago, the condo has three porches overlooking the city, a secure garage and upgraded finishes throughout. It sold for $1.375 million in December.
The top home in Stafford County came in fifth place on the list at $1.3 million. A recently renovated historic home with its own beach on 10 acres made 1381 Brent Point Road an easy sale in the luxury market.
Close by in King George County, a similar property sold for $1.25 million. Situated on Berry Plains Landing, the house overlooks the Rappahannock River and has amenities like geothermal heat, a heated garage for car collectors, horse stables and upgraded finishes.
In Orange County, 6616 Summerview Court sold for $1.216 million. And like many of the other homes on this list, it is a new construction, has a lakefront location, five bedrooms and features like a boathouse and elevator.
In Stevensburg, another new home made the list. At $1.2 million, the Carrico Mills home is surrounded by 10 acres and has all the newest gadgets.
Rounding out the list is yet another Culpeper County home. On 15 acres, a five-bedroom home with elevators and high-end finishes brought a sale price of $1.2 million.
O’Malley said that only two of the 10 highest-priced homes had swimming pools, which are waning in popularity, while many had upscale garages.
She said as the region looks to 2020, the population will continue to grow as it has over the last decade, making for a strong real estate market. But she said the market remains strongest around $350,000.
At that price, she said, homes tend to sell fast. And with more families moving to the area, she said the more affordable end of the housing market will continue to have a strong showing if the economy remains stable.
But for those looking to sell high-end homes in 2020, she suggests taking a lesson from the top 10 list and make improvements before your house hits the market.