Sales History

Summary of Smith Mountain Lake Area Real Estate Sales for 2020

Wow! What a year for real estate. Waterfront homes and condo sales were up around 50% and waterfront lots were up 77%. Water access homes were up 17% and water access lots finally started a comeback up 46% from the year before. Off water homes up also up with less than 5 acre lots up 26% and homes with over 5 acres up 10%. Off water land sales were up similar to waterfront lots, up 63% for less than 5 acre tracts and 74% for 5 plus acre tracts.

So the question is, what’s going to happen in 2021. All of the experts are saying it’s going to be another great year due to low interest rates that are forecast to stay low throughout the year and lots of folks moving further out of the cities. For waterfront property, we still have a lot Baby Boomers yet to retire and a lot of folks who now know that they can work from a second home. Our biggest question is will we have the inventory available to take care of the demand. We are definitely in a Sellers Market so get pre-approved before you arrive and be ready to make a solid offer on any property that just came on the market.

Download 2020 Historical Sales Datasheet


Frequently Asked Questions about Smith Mountain Lake Property

The two top questions I get asked the most are:

1. How do you determine the value of a property?


2. Smith Mountain Lake is so big, how do I know where to start looking for a house?

The answer to the first question is that there are 5 basic factors that determine the value of a Waterfront Home:

The answer to the second question is best answered by answering the following three questions: Answering the above questions will help in narrowing down the area of the lake you might want to search. I find it easier to eliminate areas and then search the remaining areas. Below are some additional frequently asked questions: If you have additional questions, feel free to ask!

Local Information

Smith Mountain Lake Chamber of Commerce

The best source of information about the lake is the Smith Mountain Lake Chamber of Commerce. Visit their Web Site for great information about the lake and the business that serve the lake area. The Chamber is located at Bridgewater Plaza, where Route 122 crosses the lake.

Tax Rates

Bedford County tax rates can be found at the Bedford County Treasurer Web Site.

Franklin County tax rates can be found at the Franklin County Treasurer Web Site.

Pittsylvania County tax rates can be found at the Pittsylvania County Treasurer Web Site