Centreville, VA Market Report 12/28/11

28 Dec
December 28, 2011

The Centreville market is divided into 2 distinctive markets 20120 located North of Lee Highway and 20121 which is South of Lee Highway.  The Southern zip code has enjoyed more stability in sales, average sales price and days on the market.

The 20120 zip code, which suffered in 2010 from a huge number of foreclosures and an exaggerated drop in average sales price has now begun to recover but still lags 8% behind the more affluent 20121.

The last time we visited Centreville in September, the market was beginning to catch up with the average sales price of Fairfax County, it now lags nearly 28% behind.

November 2010 November 2011 % change
Avg. Sales Price $343,852 $337,723 1.8%
Avg. DOM 39 37 -5%
Total Unit sales 71 70 0%
Active listings 166 138 -16%
New Pending sales 96 93 -3%

Earlier projections of a recovery of the Centreville Market in 2011 have dimmed due the continued of consumer confidence.  We started 2011 with pending sales at a very low level, and then they doubled in the 2nd and partly through the 3rd quarter then fell back to nearly the level of November 2010.

Information obtained from statistics supplied by Metropolitan Regional Information Systems, and analysis and comment by Jim Agnew, Managing Broker, Avery Hess, Realtors, Dulles Regional Office.

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