The real estate market in Eastern Prince William County is still in a "Seller's Market Zone" due to low inventory and pent-up demand. Buyers are trying to take advantage of low interest rates before they rise again but cannot find a home to purchase without multiple offers on homes in good condition! Even the homes that are not in good condition have investors swarming over them with cash offers.
Compare home sales for Lake Ridge in June of 2013 to home sales in June of 2012:
The number of available homes for buyers to purchase is down 23.81% Low Inventory
New listings on the market in Sept. is down 23.81% Low Inventory
Homes under contract is up 18.52% Creating even Lower Inventory