WATERFRONT - Current Trends
A huge transformation in attitudes regarding "sense of place" and "what is home?" has come about through this unprecedented pandemic we have experienced. This transformation has brought greater attention to our area as DC METRO area homeowners seek out "high value / home retreats" within a 1.5 hour drive. Key purchase decisions center on homes with greater safety and privacy, more expanded living space, and more recreational offerings - especially waterfront. Now that many people now work from home, many out of town buyers seek homes with unique lifestyle qualities that inspire life’s passions and higher calling.
Looking Ahead to 2023
Bruce sees a continuation of strong buyer demand for waterfront properties, outpacing supply throughout 2022 as we muddle through stubborn Covid issues. This new buyer demand for bay front, river front and creek front homes has pushed prices 20% over pre-pandemic levels. However as we near 2023, Bruce says the focus will be on affordability and increasing interest rates which could tamp down prices and bring more balance to supply and demand.
"The Best Way to see Waterfront Real Estate is from the WATER - by Boat!"