The statistics below represent the market in Centreville, Virginia:
- Homes listed – 394
- Homes sold – 94
- Median Home Price – $285,000
- Average Days on Market – 49
Located approximately 20 miles outside of Washington, DC, Centreville is a community within Fairfax County, Virginia. In July, the vast majority of the houses in Centreville were sold using conventional and Fair Housing Administration (FHA) financing because the average and median sales prices were all below the conforming loan limit for conventional financing. On the other hand, Metropolitan Regional Information Systems (MRIS) indicates a large number of pending contracts in the pipeline which should result in more closed sales.
Though the median home price is down approximately 11% from same time 2008, there is a strong demand for homes in the Centreville market as buyers race to get in before the November 30 deadline to get the $8,000 federal tax credit for first time buyers.