$3,622 Closing Credit*
$304,999
971 SqFt
3 Beds
•2 Full Baths
David P Mora, Listing Office: Berkshire Hathaway HomeServices PenFed Realty
Is Lake Ridge, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Lake Ridge has remained a Seller's Market.
Key Takeaway
Lake Ridge is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Ridge, VA
How much do homes in Lake Ridge, VA cost?
Median Sold Price
$499,860
$248/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$39,860(+8.7%)
Key Takeaway
Homes in Lake Ridge have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Lake Ridge was $499,860 in October 2024, up 8.7% from last year, and the median price per square foot was $248.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $196.5K | $240K | +22.1% |
| 2 Bedrooms | $300.2K | $306.1K | +2.0% |
| 3 Bedrooms | $436.5K | $465K | +6.5% |
| 4 Bedrooms | $576.5K | $600K | +4.1% |
| 5+ Bedrooms | $649.9K | $760K | +16.9% |
Summary: Lake Ridge housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.1%, 2 bedroom homes increased by 2%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 16.9%.
Housing Supply in Lake Ridge, VA
How many homes are available in Lake Ridge, VA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 123 | 129 | +4.9% |
Summary: The Lake Ridge real estate market had 129 homes for sale in October 2024, a 4.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 16 | 21 | +31.3% |
| 3 Bedrooms | 57 | 62 | +8.8% |
| 4 Bedrooms | 36 | 26 | -27.8% |
| 5+ Bedrooms | 12 | 17 | +41.7% |
Summary: The Lake Ridge housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 31.3%, 3 bedroom homes increased by 8.8%, 4 bedroom homes decreased by 27.8%, and 5+ bedroom homes increased by 41.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 42 | 48 | +14.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Ridge, expect to pay close to the asking price. 41.7% of homes here sold near the asking price last month.
Summary: A total of 48 homes were sold or pending in Lake Ridge in October 2024, up by 14.3% month-over-month. Of the 48 sold homes, 19% were sold under asking, 42% were sold at asking, and 40% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 13 Days | 14 Days | +8.2% |
Summary: Homes in Lake Ridge had an average of 14 days on market in Oct 2024, up by 8.2% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lake Ridge are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 48 homes were sold in Lake Ridge; 90% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
