Is Centreville, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Centreville has remained a Seller's Market.
Key Takeaway
Centreville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Centreville, MD
How much do homes in Centreville, MD cost?
Median Sold Price
$495,000
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Centreville have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in Centreville was $495,000 in May 2024, up 7.6% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | $2.3M | +1050.0% |
| 2 Bedrooms | $442K | $287.5K | -35.0% |
| 3 Bedrooms | $375K | $425K | +13.3% |
| 4 Bedrooms | $482K | $520K | +7.9% |
| 5+ Bedrooms | $532K | $536.5K | +0.8% |
Summary: Centreville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1050%, 2 bedroom homes decreased by 35%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 0.8%.
Housing Supply in Centreville, MD
How many homes are available in Centreville, MD?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 43 | 54 | +25.6% |
Summary: The Centreville real estate market had 54 homes for sale in May 2024, a 25.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 10 | 13 | +30.0% |
| 4 Bedrooms | 20 | 27 | +35.0% |
| 5+ Bedrooms | 8 | 9 | +12.5% |
Summary: The Centreville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 35%, and 5+ bedroom homes increased by 12.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 11 | +57.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Centreville, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Centreville in May 2024, up by 57.1% month-over-month. Of the 11 sold homes, 45% were sold under asking, 9% were sold at asking, and 45% were sold over asking.
Days on Market for Centreville, MD
How long does it take to sell a home in Centreville, MD?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 36 Days | 25 Days | -29.0% |
Summary: Homes in Centreville had an average of 25 days on market in May 2024, down by 29% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Centreville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Centreville; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
