The market continues to do well for sellers. I have heard the terminology in the last few days "Seller's market" We have 44 homes on the market this week. They were 5 new homes. To see them, click http://matrix.mris.com/Matrix/Public/Email.aspx?ID=31523595387. None on these homes were either foreclosures or short sales. There were 8 homes sold - another great week. To see those, click http://matrix.mris.com/Matrix/Public/Email.aspx?ID=31523622714. It is a very different market than what we had in the beginning of the year. It has built up each week till now it seems to be on the side of the sellers. I sold a home this week that got 3 contracts on it. I am not sure why the market just cannot get to a level playing field and stay there. It is either a "Buyer's Market" or a "Sellers Market" Where is the middle ground?

The market continues to do well but has slowed down this week as we get into the  Summer months and vacations. There are still a lot of buyers out there that have not found the perfect home. I have a condo listed that all the recent solds are foreclosures and short sales in the last 3 months - about 10. They are selling the 220 to 225 range. We have it listed at 250,000. I have had 4 contracts on it just this week. The issue is getting the price and getting it to appraise at the price with the comps being so bad, but it does show you how many buyers there are out there. We have 46 homes on the market this week - a few more than last week. We had 8 new listings - to see those - click, http://matrix.mris.com/Matrix/Public/Email.aspx?ID=31603007683. None of them were foreclosures or short sales. We had 5 homes sell this week - which is down from last week. To see those, http://matrix.mris.com/Matrix/Public/Email.aspx?ID=31603014351. One of those was a foreclosure that sold at $1,164,000 in December 2006 - a year and 1/2 after our market crested and is now on the market at $999,000 when it got a contract.

The market continues to do well for sellers who put their home in tip top shape. The inventory continues to decline in Oak Hill/Herndon and for single family dwellings, the inventory is at 46 homes - 2 less than last week. We had 8 new homes come on the market - 2 of which were relisted homes. Check out http://matrix.mris.com/Matrix/Public/Email.aspx?ID=31372972008 to see those. There were 9 homes that sold - none of which were foreclosures or short sales. I am not seeing the prices actually going up but the prices seem to be stable and homes are selling close to list price unless they have been on the market for awhile and came on at a price that was not supported by the recent solds. Check out the sold homes, by clicking http://matrix.mris.com/Matrix/Public/Email.aspx?ID=31372987375. The interest rates jumped up this past week and may dampen the market. I hosted an open house today on my listing on Viking and there were about 25 sets of people through so there seems to be a lot of buyers out there looking for homes.

The market continues to show great strength. We have 48 single family homes on the market - the lowest the inventory has got in years - at our lowest - when the market was very hot - we had 30 homes on the market in all price ranges in 2005 in Oak Hill/Herndon.  We had 8 new listings come on the market for this week - none of which are foreclosures or short sales. One was a relisted home so an actual net of 7 new homes. To see the current new listings, click http://matrix.mris.com/Matrix/Public/Email.aspx?ID=31232109499 A whopping 12 homes got contracts this week. To see those, click http://matrix.mris.com/Matrix/Public/Email.aspx?ID=31232164947. Only one was a short sale so the sellers solds did really well this week. It would be great if this lasted through the summer. The end of the school year is on us and summer vacations start so we will watch the trends.