Prince William Real Estate in Virginia and Woodbridge VA Homes for Sale Listings
For Oct-Nov 2009 versus Oct-Nov 2008 the median sales price was up 10% and the days on market required to go under contract dropped about 60% which is remarkable. Will that median sales price hold up in 2010? Not sure, but after nearly 50% decreases in home values past 3 years I would not be surprised if the decreases in values are over. The Woodbrige market has definitely decluttered with a HUGE 40% drop in Prince William real estate for sale. that is usually a good sign of stability….
Past info on the Prince William Woodbridge real estate market and Lake Ridge
Woodbridge VA real estate as seen remarkable appreciation in home & townhouse values in recent years–perhaps more so than Fairfax county. In 2005, Woodbridge real estate property values increased about 30% in the Woodbridge zip codes 22191, 22190 & 22192. Again fueling this trend for higher Prince William county property values is jobs, jobs & more jobs. The unemployment rate fell to 2.4% in the 4th quarter of 2005.
However, in 2006 the number of transactions decreased 36%! What a shift. That’s 36% fewer transactions in 2006 even though the median sales price barely budged while the average days on the market went up 195%. So even though the stats don’t show it yet, there was a price correction of at least 5%. You see the stats only take into account sold listings (the shiniest and brightest), not all those listings that expired or withdrawn in 2006 because they did not sell in Woodbridge Virginia real estate. And in February 2007 there were 23% fewer transactions for townhouse, house and condos than Feb 2006. So the slow down remains big time for Prince William County real estate and Woodbridge. Whereas other areas further north have experienced an upswing in transactions compared to 2006.
More recently in 2007, the median sold price has gone down about 6% for 22192 real estate. The average days on market is 152% higher in March 2007 vs 2006 for Occoquan area. This graph tells the tale….
Woodbridge is very rich in terms of history. It has 44 historical markers alone within its boundaries that tell of many civil war battles and earlier events in our nation’s history. Prince William county was created in 1731. Being further out means the values of homes for sale in Woodbridge are more at risk.
As far as the Prince William county MLSis concerned, it tends to be one of the last “affordable” counties in the DC metro area with a median home price of $449,600. Cities such as Manassas and Woodbridge offer much larger homes & lots for the price compared to Arlington Virginia or Fairfax county homes for sale. Occoquan VA real estate is an area many are interested in since it is close to the marina. There are some beautiful homes and townhouses along the Potomac to be found in Woodbridge with great views.
Woodbridge VA, Real Estate MLS, and Occoquan Townhouses and Lake Ridge
To learn more about the Prince William county history, Woodbridge real estate and VA MLS click here, and begin receiving your automated updates of homes homes for sale in Woodbridge! There are so many Woodbridge VA and Manassas homes for sale near railway transportation and ride share locations that is a good option for many who need more home for the money. And click here to search the Woodbridge VA MLS