I was recently approached by a local homeowner who lives in Westridge Subdivision. He was toying with the idea of selling his home, however he was under the impression the market was horrible. He said "I dread putting my home on the market For Sale, keeping a lockbox on forever and just the pain of having people come and go for weeks. Peggy,I have to mentally prepare myself."
I said," Oh boy do I have good news for you!"
The real estate market has been moving at a steady pace here in the Lake Ridge Virginia area. Westridge Subdivision is a very sought after community and one where detached homes tend to sell faster, than in local communities. It could be the fact the community has it's own elementary school, or five miles of running trails, or an awesome swim team however I believe it has a lot to do with location and lifestyle that Westridge offers. I suggested he take a look at my LakeRidgeVARealEstateNews Blog and sign up to receive an RSS Feed to keep up with what happening in and around the Lake Ridge Virginia area.Take a look at a post I wrote about Westridge some time ago.
I explained to him, that the average home in Westridge is selling in less than 40 days when priced at a Fair Market Price and that the average sales price is about $465,000 for a single family home. Of course he had one of the larger homes, and I said, just know that one of the custom homes on Tilney Ct just sold for $615,000! He said, gosh thanks...I had no idea. I thought it was a horrible time to sell.
Don't be shy, if your curious what your home would sell for. Give me a call at 703-851-3085.
Detached Homes Sold and Settled
Westridge Subdivision
Here are the statistic's for 2008 versus 2009
| As of 12/31/09 | 2008 | 2009 | % change |
| Number of Homes Sold | 11 | 12 | |
| Average List Price | $495,000 | $474,400 | -4.2% |
| Average Sales Price | $475,364 | $463,688 | -2.5% |
| Seller Contribution | $9500 | $9710 | +2.2% |
| Net Sales Price | $465,864 | $453,978 | -2.6% |
| Average Days On Market | 83 | 37 | -44.5% |
The main difference between 2008 and 2009 is the days it takes to sell a home. Inventory is low and that means if you are thinking of selling, now is the time to command the best price! We call that The Winter Advantage. While others are still packing up the holiday decor, you can get your home on the market and under contract, before the traditional spring market starts, Spring Market traditionally starts around March 15th and last through the end of June.
Regarding the townhome activity. There were approximately fourty townhomes that have sold in each calendar year. The average list price from 2008 to 2009 dropped 3.1%, so that is not great news, however townhomes are selling quickly within 24 days on average in 2009, compared to 45 days on average in 2008. Also, good news for sellers is the Seller Contributions towards a buyers closing costs has dropped several thousands of dollars compared to 2008 settled statistic's! So it's not all bad. 2010 should be a great year if you need to sell your home.
|
Check out the Current Homes Actively For Sale In Westridge |
* note anything with a star after the sales price is a short sale-call me for more information.
Do you have questions about the market conditions in your community? Just give us a call, all of us at Erick and Company have been serving Woodbridge Virginia Home Buyers and Sellers for decades. Call 703-5851-3085 or contact me by email if you need assistance.
Contact Peggy James or Erick Blackwelder of Erick and Company of Exit 1st Choice Realty, Woodbridge VA. Realtors®, call 703-851-3085 (Peggy) or 703-590-2252 (Office).If you are a homeowner who has a home to sell, we have buyers ready and waiting for nice homes to come on the market. Give us a call and we can "GET YOUR HOME SOLD FAST" to list your property for sale we service Lake Ridge, Westridge, Old Bridge Estates, River Falls, Middle County, Manassas, Manassas Park, Haymarket,Montclair, Dumfries, Occoquan, Dale City, Gainesville, Aquia Harbor, Garrisonville and Triangle area's .
Search Immediate Delivery Homes, Foreclosure Deals, Approved Short Sales, Vacant Homes, Just Listed Homes, Just Reduced Homes, New Homes even For Sale By Owner Homes listed on the MLS Begin Here
The views expressed herein are my personal views and do not reflect the views of Exit 1st Choice Realty.
Price, condition, location and hiring a real estate professional are the keys to a successful real estate transaction.
Hi Heath,
True, however given the current market conditions here in Prince William County Virginia, all homes are selling relatively quickly. Condition and location always affect price. The less your home is updated and current, that will affect your list price. If you are a local homeowner who would like tips on how to get your home Market Ready. Give me a call. 703-851-3085.
Peggy, your real estate market in the Westridge subdivision of Woodbridge VA looks very healthy. Wishing you health, wealth & happiness in 2010.
Hi Mana,
Thank you for commenting. Westridge is "as you put it Healthy" however it all depends on when someone purchased.The real estate market is certainly down from 2005,2006. But it's all realtive. In 1989, I purchased a home in Westridge for $190,000. We sold it for $219,900 five years later.Today that home would sell for $419,900. So in twenty years it has more than doubled in price.
For anyone in the Lake Ridge Virginia area who purchased a home before 2004, they should be in good shape if they need to sell in 2010.