Is Lake Ridge, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lake Ridge has remained a Seller's Market.
Housing Prices in Lake Ridge, VA
How much do homes in Lake Ridge, VA cost?
Median Sold Price
$485,000
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Lake Ridge was $485,000 in April 2024, up 11.5% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $199.5K | $200K | 0.3% |
2 Bedrooms | $280K | $299.5K | +7.0% |
3 Bedrooms | $415K | $455K | +9.6% |
4 Bedrooms | $550.5K | $592K | +7.5% |
5+ Bedrooms | $640K | $715.2K | +11.8% |
Summary: Lake Ridge housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.3%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 11.8%.
Housing Supply in Lake Ridge, VA
How many homes are available in Lake Ridge, VA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
83 | 102 | +22.9% |
Summary: The Lake Ridge real estate market had 102 homes for sale in April 2024, a 22.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 12 | 5 | -58.3% |
3 Bedrooms | 27 | 43 | +59.3% |
4 Bedrooms | 36 | 40 | +11.1% |
5+ Bedrooms | 8 | 14 | +75.0% |
Summary: The Lake Ridge housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 58.3%, 3 bedroom homes increased by 59.3%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
39 | 35 | -10.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Summary: A total of 35 homes were sold or pending in Lake Ridge in April 2024, down by 10.3% month-over-month. Of the 35 sold homes, 3% were sold under asking, 9% were sold at asking, and 89% were sold over asking.
Days on Market for Lake Ridge, VA
How long does it take to sell a home in Lake Ridge, VA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
8 Days | 6 Days | -29.4% |
Summary: Homes in Lake Ridge had an average of 6 days on market in Apr 2024, down by 29.4% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 35 homes were sold in Lake Ridge; 97% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.