My Real Estate Blog

It is amazing to me how the market can change so much week to week. This week was not a good week for real estate in Northern Virginia. The inventory has gone down to 89 single family homes in Oak Hill which is less than last week - good news for the sellers. There were 7 new listings on the market and 2 of them were relists. The bad news is that only 2 houses sold this week down from 6 last week and the 6 to 8 that have sold for the past several months. If this continues, obviously, our inventory will start increasing - which will make the market unstable once more. Hopefully, this was just a blip that occurred because we heading into the last month of summer vacation - which is normally a bad time in real estate. The mixed signals for the market are that the Open houses are having good traffic and the number of showings each week via the lockbox is staying about the same each week. Also, the number of hits on my web site and the number of hits on the individual homes on realtor.com and other sources continues to be about the same. Hopefully for both buyers and sellers, this is just the August blues.

Posted by Angela Mitchell on July 26th, 2008 1:35 AMPost a Comment (0)

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