Posts Tagged ‘Centreville’
Centreville, VA Market Report 4/5/12
The Centreville market has seen a nice recovery since a very sluggish 4th quarter in 2011, even though days on the market has increased.
Centreville is one of 3 markets in Fairfax County with a high percentage of townhouses and lower priced detached homes. These markets are influenced more by changes in the economy due to employment and tighter lending requirements, than other areas of Fairfax County.
| February 2011 | February 2012 | % change | |
| Avg. Sales Price | $320,326 | $338,612 | 6% |
| Avg. DOM | 43 | 74 | 41% |
| Total Unit sales | 58 | 59 | 1.8% |
| Active listings | 123 | 93 | -16% |
| Pending sales | 228 | 174 | 6% |
All indications are that this recovery will continue through the spring and early summer market. Inventory in Fairfax County is at a 5 year low and interest rates continue at all time lows. Those considering selling should consider their options while the inventory is down and new home builders are anxious to sell, it is an opportunity to move up.
Information obtained from statistics supplied by Metropolitan Regional Information Systems, analysis and comment by Jim Agnew, Managing Broker, Avery Hess, Realtors, Dulles Regional Office
Centreville, VA Market Report 1/16/12
The Centreville market has seen a 10% decline in average sales price from December 2010, while Fairfax County has also seen a reduction of 2.3%.
Centreville is one of 3 markets in Fairfax County with a high percentage of townhouses and lower priced detached homes. These markets are influenced more by changes in the economy due to employment and tighter lending requirements, than other areas of Fairfax County.
| December 2010 | December 2011 | % change | |
| Avg. Sales Price | $328,468 | $295,412 | -10% |
| Avg. DOM | 43 | 57 | 33% |
| Total Unit sales | 84 | 74 | -11% |
| Active listings | 157 | 100 | -16% |
| New pending sales | 74 | 79 | 6% |
Earlier projections of a recovery of the Centreville Market in 2011 have dimmed due the continued lack of consumer confidence. We started 2011 with pending sales at a very low level, they doubled in the 2nd and partly through the 3rd quarter, then fell back to nearly the level of December 2010.
The year ended with the lowest inventory in Fairfax County in nearly 5 years, from a high of 7,900 active listings in August 2007 to a low of 2,300 in December 2011. Those thinking of selling should consider their options while the inventory is low, and new home builders are anxious to sell, it is an opportunity to move up.
Information obtained from statistics supplied by Metropolitan Regional Information Systems, analysis and comment by Jim Agnew, Managing Broker, Avery Hess, Realtors, Dulles Regional Office
Centreville, VA Market Report 12/28/11
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.
Centreville, VA Market Report 11/03/11
The Centreville market is divided into 2 distinctive markets 20120 located North of Lee Highway and 20120 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 20210 zip code, which suffered in 2010 from a huge number of foreclosures and an exaggerated drop in average sales price has been slower to recover and has lagged well behind the overall increase of 10% in average sales price in Fairfax County over September, 2010.
Let’s Look at September’s Stats:
| September 2010 | September 2011 | % change | |
| Avg. Sales Price | $337,481 | $333,431 | -1% |
| Avg. DOM | 32 | 42 | 32% |
| Total Unit sales | 83 | 79 | -4.8% |
| Active listings | 207 | 164 | -20% |
All indications are that as the Centreville market will enjoy a recovery of the average sales price in the 4th quarter and 1st quarter of 2012.
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
Centreville, VA Market Report 1/3/11
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
Centreville, VA Market Report 6/22/10
What happened to all of the dire warnings about shadow inventory and the growing supply of unsold homes? Certainly not in Centreville!
The following statistics reflect the real estate market in Centreville, Virginia:
- Homes for sale: 378 (down from 435 last month, and down slightly from 394 at same time last year.)
- Homes Sold: 126 (up from 110 in April 89 in March and February’s snowy 44 units. Up from 119 one year ago.)
- Average sold price: $347,188 (another jump up from $337,492 last month and WAY UP from $274,000 at the same time last year.)
- Average days on market: 21 (very stable over past four months, but down from 66 days one year ago)
As we have said month after month, prices in Centreville are moving up and have been for the past 18 months. The increased confidence has created a growing trade-up market and that is pushes the prices statistics up at a rapid rate. With today’s interest rates at or near all time lows, even with the rising prices, the average house payment is getting cheaper. So what’s not to like?
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
