Over the last year buyers have flocked to the Lake Ridge neighborhood in Prince William County to find affordable townhouses. With 269 townhouses sold during the five quarters of data reviewed there isn’t much doubt that buyers have discovered the advantages the Lake Ridge neighborhood has to offer.
Sales have been steady since January 2009 and prices have made a steady (not metoric) rise since the low point of first quarter 2009.
Looking at the volume of sales during the last quarter of 2009 and the first quarter of 2010 with tax credits and decreasing inventory competition for properities rose along with the average sales price. However during the first quarter of 2010 prices made a slight dip from the high at the end of 2009. The volume also decreased slightly during the early spring which could be one of the contributing factors for slightly higher prices at the end of the 2009.
With the tax credits gone and inventory starting to rise looking at prices for the Q2 2010 will give us an indication if the steady recovery Lake Ridge has enjoyed the past year will continue.
Interested in learning more about the Lake Ridge neighborhood in Prince William County? Take the neighborhood quick tour for an overview of the neighborhood. If buying a new home in Lake Ridge is in your future give me a call at 703-346-2213 to talk about the wide variety of options in condominiums, townhouses and detached homes available.