Lake Ridge Real Estate Market Conditions & Reports, Lake Ridge Market Trends, Virginia

Market Commentary Provided by Margaret Jones ABR
If you can qualify, now is an exceptional time to buy a home in Lake Ridge. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 703-963-3491

Report Date

Fall 2009

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CONNECT WITH A LOCAL PROFESSIONAL

Margaret Jones ABR
Keller Williams Realty
Alexandria, Virginia
703-963-3491
margaretjones@kw.com
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Nearest Metro Area

Washington

Buyers’ or Sellers’ Market

More buyers than sellers

Average Time on Market

30-60 days

Market Trend

Decreasing

Housing Inventory

Good supply - Some Prices

Average Home Price

$250,000 - View Graph Trend

Best Selling Price Range

$200,000 - $249,000

Worst Selling Price Range

$600,000 - $649,000

Compared to Last Year

Down 5-10%

Prices As % of Asking Price

95-100%

Multiple Offers?

Yes

Multiple Offers Commentary

Well priced properties in good condition are getting multiple offers and often go under contract within a week.

Greatest Activity

First Time Buyers

Buyer Activity for the past 90 days in Lake Ridge is

Increasing

Seller Activity for the past 90 days in Lake Ridge is

No Change

Is Financing Available For Qualified Buyers in Lake Ridge?

Yes

Existing Home Prices for the past 90 days are

Increasing

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?

30-35%

Housing Hot Spots

Most cities within the Prince William County area are considered 'Housing Hotspots'

Reason to Buy/Sell

Lower prices with good selection and competitive interest rates creates a perfect time to buy in Lake Ridge!

Average Sold Price

$250,000 - View Graph Trend

National Real Estate Market

National Summary: National Housing Market Recovery Near?

Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit

Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there.

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