One of the important questions sellers need to know as they get ready to list their property for sale is "how is the current inventory in my neighborhood?"
Now we all know that in a large community such as Lake Ridge there is a wide variety of homes for sale and not all homes listed would be a "competitive" home to yours. However understanding the general inventory and how it might impact the sale of your home is important.
Currently there are 65 townhouses for sale in Lake Ridge.
In November 17 Lake Ridge townhouses went to closing.
In November 14 new townhouses were listed in Lake Ridge
Currently there are 48 townhouses under contract.
If all of the current properties under contract close there will only be a 3.8 months supply of townhouses left to sell in Lake Ridge. Some will say that this means we have a sellers market for townhouses. Though I would not jump to that conclusion, we are seeing that properties priced right move quickly and many of them with multiple offers.
For 2008 there have been 206 townhouses sold as compared to 138 in 2007. The area is on track for a banner year as far as sales. Of course this is tempered with a significant decrease in value but moving inventory is an important indicator that buyers are taking advantage of lower prices, lower interest rates and buying new homes.
If you are thinking about listing your Lake Ridge townhouse in the near future give me a call. We can talk about the inventory in your Lake Ridge neighborhood and how put your home in the SOLD category!
For more information on current properties for sale in Lake Ridge check out www.lakeridgelistings.com
©2008 Cindy Jones "Closing Out the Year- Lake Ridge Townhouse Sales"
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