The Long & Foster Market Minute

Focus On: Centreville Housing Market December 2022

Zip Code(s): 20120 and 20121
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Up 20%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 92%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 40 sold this month in Centreville Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 5 units or 20%. The total number of active inventory this December was 30 compared to 25 in December 2021. This month's total of 30 is lower than the previous month's total supply of available inventory of 55, a decrease of 45%.

Median Sale Price
Last December, the median sale price for Centreville Homes was $503,500. This December, the median sale price was $474,000, a decrease of 6% or $29,500 compared to last year. The current median sold price is 14% lower than in November.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -38%
Vs. Year Ago
Down -35%
Vs. Year Ago
Down -3.4%
Vs. Year Ago
Up 108%
Vs. Year Ago

Months of Supply
In December, there was 0.8 months of supply available in Centreville, compared to 0.4 in December 2021. That is an increase of 110% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 28 homes newly listed for sale in Centreville compared to 45 in December 2021, a decrease of 38%. There were 32 current contracts pending sale this December compared to 49 a year ago. The number of current contracts is 35% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Centreville was 98.0% of the average list price, which is 3.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 25, higher than the average last year, which was 13, an increase of 92%.

The Long & Foster Market Minute Centreville are defined as properties listed in zip code/s 20120 and 20121.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.