The market did much better this week but as I was driving around today I noticed a whole lot more signs coming up - some with "Coming Soon". There were a total of 96 single family homes on the market in 20171 - a net increase of only 1. There were 10 new listings on the market - one of which was relisted because it did not sell last year. The great news is that 5 homes received contracts this week - much better than last week. Of those homes, three were foreclosures. One was sold in January 2007 for $850,000 and was listed at $650,000 this year when it got a contract. It was on the market 277 days. The one foreclosure was on the market only 6 days. THe third foreclosure or short sale was on the market 337 days and was originally purchase in 2005 for $510,000 and was at $449,000 when it got a contract. We are always glad to get foreclosures off the market but I am happy to say the other 2 houses were not foreclosures and they sold in 44 days and 28 days - a respectable time. Hopefully, we will continue to see these numbers each week through the Spring market.

The market did not hold its own this week. The total number of active single family homes is 95 - up a net of 10 listings in 2 weeks. The bad news is that only 2 homes sold this week. One was a foreclosure that was listed for $369,000, on the market for 121 days, assessed at $476,000 and had sold November of 2005 at $539,000. The other was on the market 28 days. It was assessed at 547,000 and listed at 520,000. There were 12 new listings - 2 of which were relists. This slow down may be a result of an uptick in the interest rates but they were coming back down towards the end of the week. Each week brings us more information - but hindsight in real estate says it all. I do think the market has stopped it downward price fall and is sort of hovering at this point. The foreclosures that have sold in the past month will help stabilize the market as long as we don't see an influx of new ones.  Realistic sellers will get the most money for their home and will sell much more quickly.  I saw daffodils coming up this week so Spring is just around the corner.

The market is remaining stable so far with 10 new listings on the market this week - 2 of which are relisted homes. There are a total of 91 active single family homes in Oak Hill/Herndon - up from last week. A total of 4 homes received contracts this week. So it looks like the inventory is creeping up. The biggest increase in inventory will be in March and April as most sellers put their home on the market. Hopefully, the inventory will keep itself in check.

The market is keeping pace with itself. There are 85 total single family listings in Herndon/Oak Hill - up slightly from last week. There were 9 new listings on the market - 4 of which were relisted homes. A total of 4 homes sold this week - which was less than last week but still much better than the last 6 months of 2007. The homes were on the market from 1 day to 215 days. I was pretty excited the one listing that sold in 1 day was mine - a big congratulations to my hardworking seller. Sold in one day is probably the first time in 6 months that a home sold in a day. Hopefully, we will see more listings come off the market. We are definitely seeing a little more activity under 400,000. I have other great listings if you know of someone who is moving to the Oak Hill/Herndon market - check them out under my active listings.

Well, it looks like the Spring market has arrived. The activity this week has been encouraging. There are a total of 82 single family homes on the market in Herndon/Oak Hill - no increase from last week. There were 9 new listings that came on - 2 of which were relists. There were a total of 7 homes that sold - which is very encouraging with the fact that 6 sold last week - the number of homes that sold in these two weeks was more than what sold in each of the months from August through December. The houses that sold were on the market from a minimum of 62 days to 663 days. That is right, a record was set. A home that was on the market nearly 2 years, went into foreclosure and finally sold. A lot of the activity that you saw this week was the sale of several foreclosures - at least 3 of the 7. That is good news for the market because it means the investors may be coming back and taking the low end out - which is tough for the non-foreclosures to compete with. Soon this will allow our move up market to start moving. Looking forward to another good week. If you are a seller, time to put your home on the market. If you are a buyer, great time to buy before all the deals are gone.