Folks worried about falling prices and those wanting to make ridiculously low offers on real estate should look at the statistics. Prices bottomed out two years ago and having been moving up slowly and steadily since. The steal deals are long gone. But for those who are committed to owning their own home or trading up to a better one there is nothing to be afraid of. Double dips are more a theory than something to be concerned with. Looking for a good place to live? Check out Centreville, Virginia.
The following statistics reflect the real estate market in Centreville, Virginia:
- Homes for sale: 333 (down from 360 in October, and almost identical to this time last year.)
- Homes Sold: 64 (down from 72 in October and down from 98 one year ago during the home buyer tax credit frenzy.)
- Average sold price: $337,785 (up from $311,189 in October and WAY UP from $306,090 at the same time last year.)
- Average days on market: 41 (very stable all year in mid 30s.)
Will there be a double dip? Double dips are highly unusual. They are more of a theoretical than a reality. As employment rises, demand for real estate to rent and buy also goes up. Here in the DC region, the employment rate is stable to rising. Those who currently have a job will most likely be keeping it or getting a better one. And these will be the people who buy real estate.
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