Centreville, VA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Centreville Neighborhoods Since 2000




Centreville, VA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Centreville Housing Market Information

With a population of 74,797, 24,618 total housing units (homes and apartments), and a median house value of $466,525, Centreville house prices are not only among the most expensive in Virginia, Centreville real estate also is some of the most expensive in all of America.

Row houses and other attached homes are the single most common housing type in Centreville, accounting for 43.73% of the town's housing units. Other types of housing that are prevalent in Centreville include single-family detached homes ( 34.57%), large apartment complexes or high rise apartments ( 19.82%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.73%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Owner-occupied, three and four bedroom dwellings, primarily in row houses and other attached homes are the most prevalent type of housing you will see in Centreville. Owner-occupied housing accounts for 70.73% of Centreville's homes, and 63.07% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Centreville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Centreville built between 2000 and later ( 13.67%). A lesser amount of the housing stock also hails from between 1940-1969 ( 4.27%).

Centreville Home Appreciation Rates

Centreville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Centreville during the period has been just -1.21%, which is lower than 70% of US communities.

Over the last year, Centreville appreciation rates have trailed the rest of the nation. In the last twelve months, Centreville's appreciation rate has been -0.71%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Centreville were at -0.17%, which equates to an annual appreciation rate of -0.70%.

Relative to Virginia, our data show that Centreville's latest annual appreciation rate is lower than 80% of the other cities and towns in Virginia.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Centreville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Centreville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Centreville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$466,525

Centreville, VA HOME PRICES

Value Range
> $1,080,000 0.4
$810,001 - $1,080,000 4.7
$540,001 - $810,000 26.6
$432,001 - $540,000 14.4
$324,001 - $432,000 29.2
$216,001 - $324,000 17.5
$108,001 - $216,000 4.3
$54,001 - $108,000 0.5
$0 - $54,000 2.4

Very High for VA
Very High for Nation

Value Relative to Nation Value Relative to State
6.86745575999062 7.202216066482

Number Of Homes And Apartments:
24,618

Centreville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
VA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
81.46% 3.51% 9 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,264 / per month

Homeownership Rate

Homeownership
Owners 70.73
Renters 29.27
Vacant 2.76

Housing Market Details

 

Age of Homes

AGE OF Centreville HOMES
2000 or Newer 13.7
1970 - 1999 81.5
1940 - 1969 4.3
1939 or Older 0.5

Types of Homes

TYPE OF Centreville HOMES
Single-Family 34.6
Townhomes 43.7
Small Apt. Buildings 1.7
Apt. Complexes 19.8
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Centreville HOMES
No Bedroom 0.33
1 Bedroom 7.09
2 Bedrooms 20.34
3 Bedrooms 38.17
4 Bedrooms 24.90
5 or more bedrooms 9.17