Prince William County
offers new home shoppers searching for a more affordable housing climate than Fairfax or Loudoun an ideal new home environment. Prince William offers a wide variety of homebuilding alternatives at more reasonable prices often with larger homesites, particularly in the southern and southwestern sections of the county. Improvements to I-95’s Springfield corridor with its direct access to Washington D.C., Virginia Railway Express (VRE) stations and proximity to the I-495 Beltway, provides new homebuyers outstanding cost per square foot housing values. With new homes more attractively priced, home appreciation potential may be stronger in Prince William than in other counties surrounding the Washington metropolitan region. Considering the areas rapidly rising housing costs, Prince William County is likely to produce impressive real estate appreciation in the near future. Analysts predict increasing new home prices for years to come in the Washington metropolitan area, particularly regions offering good cost per square foot valuations like those found in Prince William County.
Reviewing the overall Prince William new and resale housing market, the median sale price rose approximately 11% from $153,000 in 2000 to $170,000 in 2001 to $240,000 in 2003 and $303,0000 in 2004. Most notable was the increase in unit transactions, up an estimated 20 percent per year from 12,749 transactions in 2003 to 15,997 in 2004. Prince William County homes for sale in 2005 have appreciated by an estimated 26% over 2004. According to BRC officials, this unprecedented sales pace is due to high demand, record low interest rates and affordability in comparison to other Northern Virginia counties. Sales of new luxury townhomes and condominiums in golf course and boating communities such as Belmont Bay are at record levels. Townhomes originally offered in 2001 at this Potomac River waterfront community in the $250,000 range have appreciated over $200,000 in a two to three year time frame. This trend seems to continue into 2005.
In the county’s northwestern end, the planned golfing community of Dominion Valley near Interstate 66 and U.S. Route 15 is a good example of the area's exponential growth. Dominion Valley, (the former planned Disney site) offers a variety of new home alternatives, including Active Adult homes, town houses, single-family homes and luxury estates. This community has become one of Prince William’s most popular with median sales prices rising over 25 percent in one year from about $300,000 to $400,000 and appreciating quickly.
Near Haymarket and Gainesville, golfing communities are growing. Piedmont is now sold-out, however, Dominion Valley with its Arnold Palmer golf course and Lake Manassas with its Presidential golf course are very popular alternatives. Prestigious and beautifully developed, Lake Manassas is one of Virginia’s premiere planned golfing communities. Located west of the historical Bull Run battlefield, this gated community was host to the President’s Cup and is renown for its natural beauty, lush topography, lake and luxurious amenities. Lake Manassas features some of the area’s foremost custom and production builders and caters to discriminating homebuyers with upscale ambiance and quality built estate homes. In our opinion, reasonable prices, quality construction, floor plan options and emphasis on the "personal touch" make this community unique and an outstanding value, however it too is nearly sold-out.
Located in southeastern Prince William County is Triangle and the Quantico Marine base. The town of Quantico is older and the market for resale homes is brisk but people’s desire to build new homes continues to be popular. Triangle and adjacent towns have recently experienced lower median prices in comparison with other areas in the county.
In sum, Prince William is a very large county with a wide variety of new homebuilding opportunities at reasonable prices… a welcome relief for those wishing to make an affordable new home investment providing excellent overall value and good appreciation potential.
The following is a list of realtors/real estate agents in Prince William County
RE/MAX - TeamRooney (Northern Virginia)
Lisa Ross - Crossroads Realtors
#1 Home Buyers Guardian
Phyllis Shrader-Robinson - RE/MAX Olympic Realtor
Joyce Talley - Weichert Realtors
B.J. Winar - Avery Hess Realtors
Barbara Tynes - ERA Tynes Realty
Eric Ofori-Atta - Realty Executives
Mabel Zuleta - Long and Foster Realtors
The Katz Team