The market stayed the same this week with 92 single family homes on the market with 6 homes selling this week. There were a total of 7 homes new to the market - one of which was a relist. When the market gets slow, 2 or 3 homes sell each week so the market continues to remain steady and to level out. Hopefully, it will remain this way through the month of August - which is usually the worst month for real estate because of all the summer vacations to the beach.

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.

The market continues to hold its own. There were 91 single family homes on the market in 20171 for this past week. 10 new homes came on the market - one was a relisted home so an increase in the number of new homes. Good news again - 7 homes sold. 4 of those homes were foreclosures. The buyers are having a hard time finding good homes on the market that are well priced. A lot of the homes on the market are preforeclosures which are very tough to buy. Again, for those sellers going the extra mile to get their home in great showing shape, their homes are selling. Normally, August is our slowest month of the year due to the heat and beach vacations so it will be interesting to see how the market fares in this month.

This week was a little mixed as far as the true results. Overall, the inventory is getting lower and lower - there are 92 active single family homes in the Oak Hill/Herndon zip code. I don't see where it will increase significantlyas we go through the summer. There were 6 homes sold this week but 3 of them were preforeclosures - which are not sure deals. There were 5 new listings - none of which were foreclosures. I think it will take about 7 to 10 days after the holiday to see if our market is still going to remain strong.