A very surprising week with very mixed results. There is still no clear picture to this market. We still have low inventory of 51 active single family homes in Oak Hill/Herndon. We had 7 new listings come on the market - none of which were short sales or foreclosures. We had 5 sales - two of which was a seller sold home and the other 3 were all short sales. See http://matrix.mris.com/Matrix/Public/Email.aspx?ID=30291552892 to check them out. One was on Oak Farms - originally sold for $691,000 in 5/04 and on the market today at $714,999 - a 3500 above ground sq footage home.  THe second was on Pinecrest and originally sold 3/05 at $400,000 and is on the market today at $325,000.  The third was on Wrexham and was sold 6/05 at $480,000 and is on the market today at $325,000 - a mark difference from the high of the market. The big surprise for me this week is that normally this is the beginning of the Spring market for sellers. In the years past, you would see 15 to 20 new homes come on the market this Thursday and Friday and that did not happen so the inventory continues to be low. If we don't see an increase this week, I am not sure that we will see the big influx of new listings. The market continues its very non-predictable path.

This week, we have 60 single family homes on the market in 20171 up 7 to 8 from last week. Last year at this time, we had 121 single family homes on the market - so the inventory is half of what it was last year and has been unusually low since about December 2008. There were 13 new listings that came on this week - which is a little more typical of the start of Spring. Last year this time, they were also 13 new listings. 2 of the homes this year were relisted. To see the new homes this week, click http://matrix.mris.com/Matrix/Public/Email.aspx?ID=30407606808. Last week, we had 6 homes sold - 3 of those were short sales or foreclosures. Last year at the same time, we had 9 sales. To see those, click http://matrix.mris.com/Matrix/Public/Email.aspx?ID=30407558885 So the market is close to what it was doing last year except the inventory is much lower. Hopefully, we will continue to see improvement on the seller sold homes.

The market did terrific this Easter week. We have 51 single family homes on the market in Oak Hill/Herndon - which is less than last week. We had 7 new listings - one a relist. No foreclosures and one short sale. The great news is that 9 seller sold homes sold this week - our best week this year. None of the sold listings were short sales or foreclosures. This Thursday and Friday are the biggest days of the year for new homes to come up on the market. The official first day of the Spring market - it will be interesting to see how it plays out. Since the inventory is still low and has resisted going up - the market should continue to stay level.  Mortgage rates continue to be down so the market should do well for both buyers and sellers.

The market seems to be quiet but we still had a fairly good week for sales - not great but at least some houses are moving. We have 54 active single family homes on the market in Oak Hill/Herndon for sale. 5 new listings came on - one is a short sale that sold in 2004 for $400,000 and is on the market at $325,000. To see those, click http://matrix.mris.com/Matrix/Public/Email.aspx?ID=29972914498 We had 5 houses sell this week - not a spectacular number but it does show the market is moving. Of the 5, one was a foreclosure on Rover Glen that was listed at $379,000 for 159 days and the tax assessed value was at $477,000. To see the sales this past week,  http://matrix.mris.com/Matrix/Public/Email.aspx?ID=29972929173. I expect this week to be fairly quiet as we enter in to Spring Break and Easter. Hopefully the sun will come out. The blooms are on their way. Have a great Easter.