My Real Estate Blog

Another great week in real estate despite the government subsidy program expiring. The inventory is getting very low - it is now approaching the same levels as 2005. It is not the same market as then when money was flowing freely from the banks; but the buyers are finding it very hard to find the right house.  The inventory is now at 37 single family homes for sale in Oak Hill/Herndon from a price range of $349,000 to 1.5 million - which is a wide spread of value for so few homes for sale. 3 new listings came on the market this week. To see those, click http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=524916XJRPL&p=DE-110461063-527. You can see the number of new listings has dramatically fallen this week. We had great home sales. We had 10 homes sell this week - which is strong number. To see those, click http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=524916XJRPL&p=DE-110461345-209. Obviously, we can't have 3 new listings and 10 sell this week - we would only have 30 homes on the market by this weekend - which is the 2005 inventory numbers. So, it is getting to a very interesting point as to which direction the market will take. As always, hindsight is wonderful. By the way, I am putting on a terrific new listing at 2724 Viking. A Hamilton model at 574,900 - totally remodeled on a beautiful lot. It will be open 1 to 4 PM this Sunday. Please stop by.

Posted by Angela Mitchell on May 10th, 2010 10:57 PMPost a Comment (0)

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