History of Centreville Farm HOA
Foundation and Development:
Establishment: Centreville Farm HOA was established as part of the broader Centreville community, which has roots tracing back to the 18th century. However, the specific HOA for Centreville Farm likely came into existence with the development of the subdivision, possibly during the late 20th century or early 21st century, a common timeframe for the development of such associations in suburban areas to manage community standards and amenities.
Growth and Evolution: The community would have grown in phases, with builders like Centex Homes or similar developers constructing homes to cater to the expanding population around the Washington D.C. metro area. Key developments might include the construction of community amenities like pools, parks, or clubhouses, which are often managed by HOAs to maintain community cohesion and property values.
Demographics
Population Overview: Centreville, where Centreville Farm HOA is located, is characterized by its diversity. According to Fairfax County’s demographic reports, Centreville has seen a consistent increase in population, with a mix of ethnic backgrounds including a significant Asian and Hispanic population. This reflects broader trends in Fairfax County, where there’s been steady demographic growth and diversification.
Income and Education: The area around Centreville Farm is generally affluent, with median household incomes often above the national average, thanks to the proximity to major employment centers like the Dulles Technology Corridor. Educational attainment levels are high, with a considerable portion of residents holding bachelor’s degrees or higher, influenced by the presence of numerous tech firms and government-related jobs.
Real Estate Trends
Market Dynamics:
Home Values: As of late 2024 data, Centreville has seen median listing home prices around $585,000, indicating a 10.4% increase from the previous year. This growth reflects both the general appreciation in Fairfax County’s real estate market and the specific appeal of Centreville’s community living.
Inventory and Sales: The inventory of homes for sale decreased by 15.3% from November to December 2024, with a quick turnover rate; homes sold within 18 days on average, which is a 62.1% increase in days on market compared to the previous year, suggesting a highly competitive market where homes sell quickly.
Selling Trends: A significant proportion of homes (44%) sold above asking price, indicating strong buyer demand. This trend is likely driven by the area’s desirability due to its school systems, community amenities, and access to employment.
Future Projections:
Given the trends, Centreville Farm HOA might continue to see property value increases, but at a potentially slower rate if the market cools or if there’s an increase in housing supply. However, the area’s appeal for families, professionals, and those seeking suburban life near urban centers should keep demand robust.
Community Management and Amenities
HOA Role: The Centreville Farm HOA, as with many in Fairfax County, is responsible for maintaining common areas, enforcing community guidelines, and managing community facilities. This includes upkeep of parks, pools, and potentially organizing community events, which are crucial for maintaining the quality of life and property values in the area.
Website Insights: The myfaircrest.com site, while not detailed in content from the search results, typically serves as a portal for residents to access HOA rules, event schedules, and contact information for HOA management. It’s a tool for community engagement and management.
Conclusion
Centreville Farm HOA in Fairfax County, Virginia, reflects a microcosm of suburban living in one of America’s wealthiest counties. Its history, demographic composition, and real estate trends are intertwined with the broader economic and social developments of the region. As Fairfax County continues to evolve, so too will communities like Centreville Farm, adapting to new residents’ needs while maintaining the charm and value that made it attractive in the first place.
Given the dynamic nature of real estate, it’s advisable for those interested in deeper insights or updates to check county reports, local real estate market analyses, and direct communications from the HOA itself.
