My Real Estate Blog

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.

Posted by Angela Mitchell on February 2nd, 2008 8:07 AMPost a Comment (0)

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