Woodbridge VA
Watching the real estate shifts and changes throughout the different suburbs of Washington DC is riveting. The whole metro area of DC is made up of many different cities and towns that comprise “the burbs.” Then there are other urban centers like Tysons and Arlington that can practically stand on their own as alternate urban centers. Following these local trends is critical for us so we can help our clients make the right choices in their real estate purchases.
I do these videos for you every week and break down living in DC, Maryland and Northern Virginia. Often Michael joins me. We’ve both lived here over 20 years and know these areas better than anybody. Make sure you subscribe so you don’t miss the new videos.
Why is Woodbridge Virginia on fire? It didn’t used to be like this. In the housing bubble, there were entire streets filled with foreclosed homes in Woodbridge. It was hit especially hard in 2008 – 2009. But here we are, 15 years later, telling you that the market has come full circle. What shifted for Woodbridge?
The biggest piece of news for Woodbridge comes from the Virginia Department of Transportation. The I-95 & Route 123 Interchange Project is gaining momentum. This is huge news for Woodbridge because the bottleneck traffic that happens multiple times a day at the interchange for exit 160 is terrible. If the exit number or Route 123 don’t mean anything to you, this may help.
When you’re heading south on 95 from the beltway (495,) you typically move along through Fairfax County. Your confidence is up, you find yourself thinking, “People always talk about how bad traffic is, this ain’t so bad!”
Then you say goodbye to Fairfax County, hello to Prince William County as you cross the Occoquan River, and there it is. Gridlock. There goes your confidence, sailing down the Occoquan along with your plans for rest of your day because it can take up to an hour to go 7 miles down to Dale City.
The improvements proposed include:
- Replacing the northbound Route 123 loop ramp to southbound I-95 with a signalized left-turn to the southbound Route 123 ramp to southbound I-95
- Widening the southbound Route 123 ramp to southbound I-95 from one to two lanes
- Moving the Route 123 and I-95 Express Lanes ramp intersection slightly south
- Realigning the southbound I-95 ramp to northbound Route 123
- Adding a shared-use path along northbound Route 123 from Annapolis Way to Devil’s Reach Road
- Repairing and replacing the deck of the southbound I-95 bridge over Occoquan Road
These improvements will radically change the corridor from what is often a parking lot on 95 to a more functional road representing a highway. We are anxiously awaiting all of this to take shape because it will help to make Woodbridge an even more attractive area to live. The improvements will ease travel on 95 for both weekday commuters and weekend travelers. And in the summers when the Saturday traffic headed to Virginia Beach or the Outer Banks is in full force, this should be a huge help.
Let’s zoom in now on the market. Woodbridge continues to be strong because the price point is very affordable in the DC Metro area. Looking at all of Woodbridge, the average price of single-family detached homes sold in the last six months was $623,500. The median was $579,000. For townhomes sold in the last six months, the average price was $465,000 and the median was $450,000.
Lake Ridge is still the strongest market in Woodbridge and the most desirable area to purchase a home. The amenities in the immediate area of Lake Ridge continue to attract many of the buyers looking in the eastern side of Prince William County. If we remove the rest of Woodbridge and just zoom in on Lake Ridge, the average price of single-family detached homes in for the last six months was $678,000. The median price was $645,000. For townhomes, the average price in the same period was $480,000 and the median price was $475,000.
What we are currently seeing right in parts of the Woodbridge real estate market is similar to the story in other real estate markets in metro DC. If sellers price their home correctly based on the condition and location, the home sells quickly. Many times, these homes are receiving multiple offers. Michael recently listed and sold a home in Lake Ridge and received four offers the first weekend on the market. But there are other homes in the neighborhood who priced too high, and they did not have the successful outcome Michael did for his clients.
Usually there are large gaps in the average price and the median price. They can be $200,000 – $300,000 different for the same neighborhood. This is not the case in Woodbridge. There are not a lot of outliers in home prices here so it should be easier to get the price right for sellers who have hired knowledgeable Real Estate Agents. Prices here are steady, stable but growing. Houses here are similar to each other and you see fewer custom homes here.
In a real estate market that has been so uncertain for over a decade, the stability in Woodbridge offers buyers a place to call home where their dollar stretches further than in other areas. Of course, the affordable areas are always where people flock to, and that ends up defining traffic patterns. With VDOT’s recent announcement about the changes to the 123 / I-95 interchange, combined with the VRE (Virginia Railway Express commuter train) and the Omni Link Bus, people have a lot of commuting options.
Just because we’re saying Woodbridge is super-hot right now doesn’t mean you can’t get a home here. It’s actually quite the opposite. In the past five years, Woodbridge homes used to fly off the market. Now, if they are priced incorrectly or they need significant work and the price does not reflect condition, buyer perception of the home’s value is greatly diminished.
With interest rates and inflation where they are, buyers aren’t as agreeable anymore to take on major renovation projects like roofs, new HVAC, kitchen remodels, etc. without a significant pricing concession.
Since it is the beginning of summer, there are some amazing activities that you can indulge in while you are in the Woodbridge area shopping for your new home:
Brew Republic Bierworks hosts Trivia on Monday Nights or if you prefer to sing, Karaoke is on Fridays.
The Alamo Drafthouse has Trivia as well.
For families, Muse Paintbar offers a multitude of painting class options throughout the summer.
There are a couple recreation centers – Chinn Aquatics & Fitness in Woodbridge and the Dale City Recreation Center – guess where that is! They both offer inexpensive memberships where you can take advantage of sports, swim and fitness classes.
There’s the Waterworks Waterpark which is the biggest splash pad in Northern Virginia.
There’s “Fridays at Five” a concert series that runs every other Friday May through August at the Prince William County Complex.
Occoquan Bay Wildlife Refuge is a habitat for birds. It is free to enter, and you can hike or bike along their 4 miles of trails. You can also drive through, and there is hunting and fishing as well. I realize we called this a refuge, and when I read hunting I was like, what? But yes, they have organized hunts to control the deer population. They also put bands on birds to identify them, and you can go watch the volunteers in this process.
The next three places are all situated together – the Neabsco Boardwalk, Potomac Heritage Trail and the Rippon Lodge.
The Neabsco Boardwalk is an elevated boardwalk through the wetlands. You can get up close to herons, ducks, and all varieties of birds.
The Potomac Heritage Scenic Trail is connected to a network of 800 miles of trails from the Ohio River Basin to the Chesapeake and Potomac Rivers.
Rippon Lodge Historic Site is the oldest house in Prince William County.
Leeslyvania State Park is on the water, and there are trails, a fishing area, boat and kayak launches and a sailing school. They even have days for kids fishing tournaments.
There are a few community pools in Woodbridge. One thing that’s different about Prince William County from other areas in metro DC is that there are admission fees for these pools – typically $5 – $7.50 for an adult.
There’s Hammill Mill Pool as well in Woodbridge.
At Veterans Memorial Park, there are baseball and soccer fields as well as a Skate Park, playground and pool.
In Dale City, there’s Birchdale Community Center which has a pool, playground, basketball court and a skate park as well as a Recreation Center. https://www.pwcva.gov/pools
Lake Ridge Association offers a variety of amenities to include 5 pools and a spray ground, a boat ramp, community centers for rent, sports fields, playgrounds, fitness stations and other outdoor recreational courts including tennis, pickleball, basketball, multi-use and volleyball. In Lake Ridge, there is a whole system of playgrounds and Tot Lots.
If summer isn’t your thing, cool off at the Prince William Ice Center. They have an indoor skating rink on Dale Boulevard.
Checkout our previous videos on Woodbridge to see all of the activities and dining that Woodbridge has to offer!
We hope you enjoyed this Woodbridge update and that you are excited about exploring all that Woodbridge has to offer. Our contact information is below if you want to talk about purchasing a home in Woodbridge and see why it is one of the hottest markets in our area. Make sure you hit the subscribe button to stay up to date on all of our videos about living in the DC Metro area!
