Centreville, VA Market Report 5/21/10

21 May
May 21, 2010

Centreville is HOT! Steadily rising prices and increasing demand and supply over the past few months means that Good Times are ahead. Plus with great shopping, entertainment and dining options what’s not to like about Centreville?

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

  • Homes for sale: 435 (up from 401 last month, and up slightly from 424 at same time last year.)
  • Homes Sold: 110 (up from 89 in March and February’s snowy 44 units. Up from 83 one year ago.)
  • Average sold price: $337,492 (big jump up from $297,079 last month and WAY UP from $298,761 at the same time last year.)
  • Average days on market: 21 (down from 34 last month and even more so from 74 days one year ago)

As we have said month after month, prices in Centreville are moving up and have been for the past 17 months. Over the past several months the market is no longer dominated by only First Time Buyers and Investors. We now have existing homeowners trading up to buy a bigger house.

With prices in Centreville rising and inventory also rising, we should see some stability in pricing soon as the supply rises to met the demand.. This is good for all parties!

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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