Centreville, VA Market Report – 3/10/10

10 Mar
March 10, 2010

Centreville is located in Fairfax County, one of the largest counties in the Commonwealth of Virginia. From Centreville, it’s only a one hour drive to the mountains and three hours to the beach. With reasonably priced houses and a great lifestyle, what’s not to like?

The following statistics reflect the real estate market in Centreville, Virginia:

  • Homes for sale: 312 ( up from 288 last month, down from 402 at same time last year)
  • Closed sales: 58 (down from 90 in December)
  • Average sold price: $293,369 (down from $304,655 in December, but up from $272,000 in January 2009)
  • Average days on market: 41 (up from 36 in December)

Comparing each month to the previous month’s results has been like driving on a country road: small ups and downs, but the trend is unmistakable, prices are going up again. All the great fears and media reports about how the shadow inventory of foreclosures was going to cause a depression have so far been a bunch of hype. The real winners have been the buyers who have braved the media reports and jumped in and bought a house. With or without a tax credit, these folks are already looking very smart for taking action.

Prices in Centreville are rising and there is a trend toward declining inventory from which to select. As this trend continues, home prices should continue to rise as a result.

Market data, commentary and statistics provided by David Hess, Executive Vice President and Managing Broker.

Search for homes in Centreville, and all of the DC Metro: www.averyhess.com

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