The median sale price of a home in Lake Terrace was $342K last month, up 3.6% since last year. The median sale price per square foot in Lake Terrace is $208, down 4.6% since last year.
What is the housing market like in Lake Terrace today?
In October 2024, Lake Terrace home prices were up 3.6% compared to last year, selling for a median price of $342K.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$342,000
+3.6% YoY | Oct 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Oct 2024
Growth
% YoY
Lake Terrace, VA
$342,000
+3.6%
United States
To compare other locations to the Lake Terrace and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Learn which home features in Norfolk add value to a home.
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All Home Types
Sale-to-List PriceAll Home Types
Sale-to-List Price
(All Home Types)
101.4%
-0.11 pt YoY | Oct 2024
Based on Redfin calculations of home data from MLS and/or public records.
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Lake Terrace housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Lake Terrace.
Flood Factor - Minor
15% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Lake Terrace has a minor risk of flooding. 23 properties in Lake Terrace are likely to be
severely affected
by flooding over the next 30 years. This represents 15% of all properties in Lake Terrace. Flood risk is increasing faster than the national average.
<1% of properties are at risk of wildfire over the next 30 years
Fire Factor
Lake Terrace has a moderate risk of wildfire. There are 1 properties in Lake Terrace that have some risk of being affected by wildfire over the next 30 years. This represents <1% of all properties in Lake Terrace.
100% of properties are at severe
risk of a severe wind event over the next 30 years
Wind Factor
Lake Terrace has a Severe Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Lake Terrace is most at risk from hurricanes. 388 properties in Lake Terrace have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 125 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 137 mph.