Centreville, VA Market Report 4/16/10

16 Apr
April 16, 2010

Centreville has housing styles to fit every lifestyle and every budget. Plus with great shopping, entertainment and dining options what’s not to like?

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

  • Homes for sale: 401 ( up from 336 last month, down slightly from 442 at same time last year)
  • Closed sales: 89 (more than double February’s snowy 44 units)
  • Average sold price: $297,079 (up from $287,280 last month,  and WAY UP from $261,306 in March 2009)
  • Average days on market: 34 (down from 47 last month and even more so from 82 days one year ago)

So with these kinds of numbers, is there any doubt about what is going in with Residential Real estate in Centreville? As I have said in previous posts, those who bought over the past 15 months have been rewarded with increasing equity, both from rising house values and the reduction in their mortgage loan from making payments each month.

Prices in Centreville are rising and there is a trend toward declining inventory from which to select. As this trend continues, home prices will continue to rise as a result. In fact as this trend continues, the upward pressure on prices will be just that, Pressure!

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

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

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