The housing market in Centreville continues to see strong price appreciation, with values up 15.3% compared to last year. Home prices have decreased 2.3% in the past month. With 10 active listings, inventory is 67% higher than seasonal norms. Homes are now taking an average of 57 days to sell, significantly longer than the 34 days typical for this market. A significant 30.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Centreville market with the affordability index at 656.0. Looking ahead, the Centreville market is expected to maintain its current trajectory with relatively stable conditions.
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