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Lots, Land & New Construction
Building at the lake is the highest-variance path there is. It can be the best value on the water or an expensive lesson.
The market, briefly
What this costs at Smith Mountain Lake
Waterfront lots closed around an average of $378K in 2024 — but at 92% of list and roughly 304 days on market. Land moves slowly here, which is leverage if you are buying.
Figures reflect publicly reported Smith Mountain Lake area activity and are for general orientation only — they are not an appraisal. Ask us for current numbers on your specific segment.
Lots sit. That is your negotiating position
Waterfront lots averaged over 300 days on market and closed at 92 percent of asking. Homes closed at 97 percent in under sixty days. Land is where a patient buyer has actual power.
Perc test before anything else
Most of the lake is on septic. A lot that will not perc is a lot you cannot build on, and "it perc'd in 2006" is not the same as a current approved design. Make your offer contingent on it.
Slope is money
A steep bank down to the water is common here and it changes everything: driveway, foundation, retaining, and how you get from the house to the dock at seventy. Walk the lot to the waterline before you buy it.
Sequence the dock permit early
Vegetation removal below the 800-foot contour requires AEP authorization and replanting with native species. Your dock permit is a thirty-day minimum with a surveyor involved. Build the schedule around that, not the other way around.
Use this
Questions to ask any agent about this
Ask these of whoever you end up working with — us, someone we introduce you to, or an agent you found yourself. A specialist answers them easily. Everyone else gets vague.
- Has the lot perc'd, and is there a current approved septic design?
- What is the slope from the building envelope to the waterline?
- Is there an existing or approved dock permit, and what size is allowed?
- What are the community's building covenants and minimum square footage?
- Who are the builders actually working at the lake right now?
Communities that fit
A starting point. Details change — always verify current rules with the HOA and the county.
| Community | Where | What it is |
|---|---|---|
| Bridgewater GrandeWaterfront · New Construction | Moneta, Bedford Co. | A gated waterfront development of about 30 homesites within walking distance of Bridgewater Plaza, with a pool, pickleball and a community boat storage area. Still building out. |
| South HarbourWaterfront | Union Hall, Franklin Co. | Half-acre to 2.5-acre lots on the Blackwater channel; 40 properties, 28 of them waterfront. |
| The SanctuaryWaterfront · Lots | Penhook, Franklin Co. | A waterfront enclave of roughly 135 acres on the south side of the lake, sold as homesites for new construction. |
| Park PlaceWaterfront | Union Hall, Franklin Co. | 138 acres of hardwood forest and 119 home sites near the Virginia Wine Trail. |
| Clearwater EstatesWaterfront · No HOA | Penhook, Franklin Co. | Large wooded waterfront estate lots with no homeowners association. |
| High PointWater Access | Moneta, Bedford Co. | Single-family homes and buildable lots with community boat-ramp access. |
Where to look for this on the lake
Penhook & the Upper Blackwater
The southern gateway and the best value water on the lake. Rural, quiet, and the closest shoreline to the Carolinas.
Explore this areaHardy, Wirtz & the West End
The commuter's end of the lake. Closest to Roanoke, narrower protected water, and the best odds of keeping a real job while living on a lake.
Explore this areaHuddleston & the East End
Deep water, wide views, and the quietest stretch of main channel — the lake between the bridges and the dam.
Explore this areaOr maybe you're really after…
Waterfront Homes
True deeded waterfront where the dock is yours. The most sought-after — and the most technically complicated — thing to buy at this lake.
What to knowOff-Water & Water Access
Lake life at a fraction of the price — if you understand exactly what "water access" does and does not include.
What to knowCondos & Townhomes
Lock the door and go. The lake's lowest-maintenance path to the water — and often the easiest one to rent out.
What to knowLooking for lots & new construction?
Tell us the specifics and we'll introduce you to an agent who does this every week — not one who does it occasionally. Free, and no obligation whatsoever.
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- One real conversation
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