The market continues on its same path. There are 116 active single family homes on the market in Oak Hill/Herndon - down from 121 last week - which is a good sign for sellers. It also is a good sign for buyers because the more stable the market is - the more confident a buyer feels that they won't lose their investment. Again, 9 homes sold this week - which is the same as last week. There were 12 new listings - 4 of which were relists. The spring influx of listings is over so it looks like the market will stabilize and well priced homes will sell quickly while other sellers will have to reevaluate their prices. I would guess that next week the inventory will come down further which will firm up the prices a little. If we can keep 7 to 9 houses selling per week, we will be in great shape. The only issue now is the economy, gas prices and food prices. One foreclosure entered the market this week.

The market continues to improve for sellers and buyers. There are 114 single family homes in Oak Hill/Herndon on the market versus 116 a week ago. There were 14 new listings - 2 of which were relisted properties. Of the 116 homes, 5 are pre-foreclosures. 11 homes got contracts which is more than last week - more good news. Nine of the homes were on the market less than 20 days and the other 2 were on over 5 months. It is becoming very noticeable that sellers have to price their home correctly upfront. There seems to be a lot of activity in the first week and then it seems to dies down after that. It is still difficult to price homes correctly but sellers need to be on top of price changes so that they do not become stagnant on the market. As inventory keeps shrinking, there are going to be fewer choices for buyers.