Centreville continues to mirror the Fairfax County market. Centreville showed a 5% decline in average sales price over July 2011, while the county overall showed a 3.25% decrease. This appears to be only a slight “hiccup” in our overall stable market. June showed a healthy increase, and overall the trend is still going upward for the year.
Centreville is located in Fairfax County, one of the largest counties in the Commonwealth of Virginia. Over the past few decades, Centreville has blossomed with home developments and shopping and restaurants.
Growing consumer confidence, an extension and expansion of the Federal Housing Tax Credit, along with investors looking for long term, high growth investments is moving more buyers into the market.
Statistically there is very little change in the average sales price from the same time period one year ago. This is a big change from what we wrote last month when we reported that compared to one year ago, house prices were down 10%. In comparison, the statistical differences are not as dramatic as they have been.
Centreville is approximately 20 miles outside of Washington, DC, in Fairfax County, Virginia. In August, the vast majority of the houses in Centreville were sold using conventional and Federal Housing Administration (FHA) financing because the average and median sales prices were all below the conforming loan limit for conventional financing.
These totals represent the market conditions in Centreville, Virginia:
Homes for sale: 375
Closed sales: 100
Average sales price: $326,422
Average days on market: 61
A continued increase in activity is shown by these numbers as last month only had 94 sold homes and 394 new listings for sale. Each month in Centreville we have seen an increase in sales