Lake Ridge Real Estate Market Slumps to Contracts Low Point

A dip in the number of pending transactions in the Lake Ridge market over the last 30 days resulted in the lowest amount since last January. While 37 homes went under contract, there were 41 completed sales. In comparison, Dale City had 75 contracts executed in the same time frame, the most of all nearby cities. Potential buyers should note that prices are coming down in Lake Ridge, and for this period the median sales price slid from $310,000 to $305,000. With only two months of inventory to sell, Lake Ridge is a still definite seller's market, even after taking into consideration the falling contracts numbers.

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Demographic facts about Lake Ridge:

  • The percentage of the population who own their homes is 70.5%.
  • This area has a one-year job growth rate of 1.91%.
  • The students per teacher ratio in this area is 14.5:1. (15.3:1 = national average)

Data reported through 1/11/2017

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