What a great week for real estate! The market did the best it has for at least a year - I would have to go back through my blog history to see what happened last Spring. There are a total 51 active single family homes in Oak Hill/Herndon for sale - has remained relatively the same from week to week this entire year so far. There were 13 new listings - one of which was a relisted home and 2 were foreclosures - no short sales this week. The great news is that we had 11 homes sell. One was a foreclosure, two were short sales and 8 were seller sold homes - which is fantastic. To see the sold homes, click here http://matrix.mris.com/Matrix/Public/Email.aspx?ID=29443332056 Three of the 8 seller sold homes were my personal listings. They were all updated and in above average shape and were on the market from 7 days to 32 days. We have 3 great weeks in a row. The spring market is looking good for both buyers and sellers so far. Prices are still down from November but up from the December low and seem to be holding steady-which in the long run is good for our economy, the buyers, and the sellers.

This week was a better week but still feels sort of slow for this time of the year. I feel that there are a lot of buyers out there that are looking but not buying because they have not found the right house for them. I have 2 listings on the market and one of them is getting a lot of traffic (so there are buyers out there) - 1 to 2 people a day - which is a lot and the other just came back on the market so we will see how their traffic goes. We had 4 homes receive contracts. Two of them were in the $600,000 range and were large houses for the price. One was 2806 sq feet and listed for $615,000 and the other was 3325 sq ft above ground and was listed at $650,000. Both were on the market less than 45 days. Of the 4 contracts, 3 were seller solds and the 4th was a short sale that came up with a contract on it already - I have seen this a couple of times and am not sure what is going on. To see these sales, click here http://matrix.mris.com/Matrix/Public/Email.aspx?ID=29849531972. We have 55 active single family homes on the market in Oak Hill/Herndon - a small net increase from last week. Again, I would expect the number to rise dramatically the Friday after Easter. We had  8 new listings - 3 of them were relists. Click here to see those http://matrix.mris.com/Matrix/Public/Email.aspx?ID=29849511972. Overall a better week but still not what you would expect with the interest rates hovering at 4.5% for 30 year conventional and the number of buyers that seem to be out there. I will at an Open House this Sunday the 29th 11-4PM on my listing at 12451 Wendell Holmes. A great house, please stop by. We just repriced the home to $535,000 and the home shows well.  

Not such a great week for the seller solds or the market itself, eventhough the interest rates have come down to the mid 4s - historical lows. Not sure what happened and what makes this market react so up and down. We had a good 3 weeks and then this week shows up. There were 9 new listings - 3 of which were relisted homes - so a net of 6 actual new listings. To see those, click http://matrix.mris.com/Matrix/Public/Email.aspx?ID=29718157127. There were a total of 3 homes sold for the week - down from the last 3 weeks. Two of the three were short sales and one was a seller sold home. Click to see http://matrix.mris.com/Matrix/Public/Email.aspx?ID=29718095415.  The inventory is still low - total of 53 active single family homes in Oak Hill/Herndon- which is still making it hard for buyers to find the right home. I am still getting quite a few calls from buyers so I would think this week was just a fluke and it will do better in the coming weeks. Usually our spring market is January, February and March - this is when the buyers are out looking. Most sellers think it is April, May and June, when the flowers bloom, so the inventory starts increasing right after Spring/Easter break. This year, the market may do well during the coming months due to the low inventory and that the buyers today cannot find a home. The combination of the inventory increase and low interest rates may do great for April, May and June for both the sellers and buyers. Historically, there is more competition for the sellers during this time to have their home both well priced and in great condition.

The market continues to do well - not as good as last week - but so much better than 3 weeks ago. We have 51 single family homes in Oak Hill/Herndon for sale. We had 8 new homes come on the market - one was a foreclosure that originally sold for $400,000 in August 2004 and is now on the market at $366,000. No short sales this week. To see those, click  http://matrix.mris.com/Matrix/Public/Email.aspx?ID=29567794418. We have 6 homes sold - 5 seller sold homes - 2 were my personal listings and 1 was a short sale that came on the market for one day. It originally sold in September 2006 for $582,000 and was listed at $419,900 when it came on the market. To see those http://matrix.mris.com/Matrix/Public/Email.aspx?ID=29567754592. If we can keep 6 to 8 seller sold home selling each week, our market will stabilize and become much healthier. I am sure the Dulles Tollway Metro Initiative will also really help our area.