Located close to Washington, D.C., Centreville, Virginia, continues its seller's market, say local Realtors.

"Centreville is approximately 20 miles to DC, 10 miles to Reston/Dulles and 6 miles to Manassas," explains Realtor Daniel Wallace. "Centreville is one of those communities that is close to everything you need. It has condos to luxury estates, easy access to major arteries, commuter services, and lots of things to do."

Wallace advises, "Prices continue to increase. The inventory of available homes has not increased appreciably. It is still a seller's market and as fast and furious as the last several years. At this point in time, it appears 2005 will be similar to 2004. The Centreville location is a great location for those commuting daily into DC. It offers a variety of housing types including condominiums, town homes, and single family homes."

Observes Realtor Karen Kruschka, "Prices continue to escalate and at a rate somewhat higher than normal. The strength of the market in 2005 will probably be as great as it has been in the past several years. The real estate market in the western part of Fairfax County relies heavily on the high-tech sector. Its fortunes are tied directly to major fluctuations in the high tech industry.

"Centreville is one of the most popular residential areas in Northern Virginia for several reasons," she explains. "First is the fact that it is relatively new and still expanding. Second, it is close to the high-tech employment centers of western Fairfax County. Third, it offers a wide array of homes including condominiums, town homes, and single family homes. Finally, there is a broad range of prices for all residential properties."

"The inventory of homes for sale remains relatively low and the pool of buyers continues to grow," says Realtor Glenda Cherry. "This has resulted in many sellers getting multiple offers with sales prices escalating above the list prices. About 105 residential sales in Centreville closed during the month of February 2005 (down slightly from 107 sales closed in January). These sales ranged in price from $214,900 to $998,500. The average list price was $367,149 (down from $388,561 in January) and the average net sales price (less seller concessions) was $370,910 (down from $385,799 in January). The number of days on market ranged from 0 to 167 and average number days on market was 9 (down from 18 in January)."

Published: March 9, 2005

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