Centreville VA Real Estate Market – March 2014

Winter Woes Impact Market Movement

Centreville VA, and Northern Virginia in general, has gone through an interesting time in the real estate market recently. Our harsh winter majorly impacted sales over the past few months. While last year, the average days on market for active homes went from 43 in December 2012 to 33 in February 2013, this year over the same time period, the numbers went 50 days on the market to 60*. Homes for sale in Centreville VA that normally would have been an easy sell sat much longer than normal, because across the board, buyers were waiting out the weather if they had the option.

Centreville VA Real Estate Market March 2014Homeowners selling homes in Centreville VA this winter saw a lower average sale price to list price ratio than last year as well, especially in the 20121 zip code. In December 2012, homes got 97.3% of their list price, while December 2013 brought only 94.6%*. Things improved in January, with 20120 and 20121 hitting above 96% for the month, and February brought both zip codes up to a 97.7% average*. This is still lower than last year, where in February 2013, homes for sale in Centreville VA got 98.5% of their list price*.

What Happens Now?

So what does it all mean? Basically, there is a ton of pent-up energy in the Centreville VA real estate market, which we are already beginning to see. While there were only 93 active homes for sale in Centreville VA last month, already in the middle of March, we see 97*. There were 145 pending sales in February*, but we see 82 so far in March, only looking at homes that were listed in March^. That’s 82 brand new pending sales already, not just ones that carried over from January and February.

Pendings are great, but what about homes sold in Centreville VA? So far, we’ve sold 14 homes in Centreville this month, according to our local MLS. If you think that number sounds low, it is. The thing to keep in mind with tracking sold sales after a few slow months is that the sold numbers will not show how much improvement there is in the market for another 30 days or so. Many of these current pending sales will not close until April or May. Goss Realty Group can account for 2 other sales closing next week, so we know that 14 is just the beginning.

Our Recommendations for the Next 30 Days

Sellers need to get on the market ASAP. Homes for sale in Centreville VA priced at market value and advertised well are getting offers at or above asking price. This is huge after the struggles of our winter sellers. The prime time for selling homes in Centreville VA is now. Inventory is still relatively low (93 active listings in February* and 97 now^), but demand increases daily. If you don’t remember, re-read the part about the 82 new pending sales in the past two weeks. Contact Goss Realty Group today and get your home ready to sell for its full value this month.

Buyers, don’t despair. Great value still exists in the homes for sale in Centreville VA for you as well. Focus on homes that have been on the market for a few months. In general, the weather, not their condition, is why they are still active listings. These sellers are more likely to negotiate on terms, including the price. Even freshly listed homes for sale in Centreville VA can be found for a fair price, however. So far this month, 15 homes have sold after one day or less on the market^. How does this happen? Proactive agents, like Goss Realty Group, connect with other area agents to find out about homes for sale in Centreville VA before they come on the market. That means buyers are seeing homes and putting in offers before the home is technically for sale. If you are not working with an agent who is on top of the real estate market in Centreville VA, you are at a huge disadvantage as a buyer. Contact us today to find the best home for your money.

Whether you are buying or selling homes in Centreville VA, you need a strong agent on your side. From preparing your home for sale, viewing relevant properties on the market, negotiating contract terms, to preparing for settlement, you will not get the maximum value on either side of the deal with a weak agent. Contact Goss Realty Group today and Let’s Get You Home.

*courtesy of RBIntel.com
^courtesy of MRIS.com


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