Well, the market seems to be doing great. Prices are not where the sellers want them but the buyers are finding homes that are well priced, show well and are continuing to buy them. The inventory is slowing going down and now is at 102 single family homes in Oak Hill/Herndon zip of 20171 so I would expect it to be under 100 in about 2 weeks. As it continues to drop, the market will start swinging to a balanced market where the sellers are able to negotiate on their home inspections and be able to come back on low ball offers. We should see more homes that are priced right selling close to list price. We had 8 homes sell this week - which is terrific. There were 8 new listings - 2 of which were relists so we seem to be starting to level off. I hope all those fathers out there are enjoying their day! 

Another great week for real estate. The active single family homes in Oak Hill/ Herndon went up by one to 98 homes for sale. There were 13 new listings - 3 of which were relisted. 11 homes sold this week which is outstanding for the third week in a row. The market is getting more balanced each day. I would suspect the inventory would drop even more this week so if you are a buyer, this may be the most opportune time to buy.  We may have reached market bottom. Prices should be leveling out. I doubt they will go up but the buyers have less choices to pick from.

The market is getting tight for buyers. The inventory is dropping and homes are selling.There are a total of 97 single family homes in Oak Hill/Herndon. It has now dropped below 100 - once it gets to the 80s - we will be at an inventory low for the past 3 years which should pretty much change the market for the sellers. There were 8 new listings - no foreclosures and one preforeclosure. A total of 10 houses sold this week which is a big number so if this continues the buyer's market will have ended. It might be a good time for those sellers to put their homes on the market that were not selling before. Usually during the summer months the inventory grows so we will see.

The market continues to be fairly strong. The number of single family  homes in Oak HIll/Herndon continue to drop. They are now at 107 active listings. 12 new listings came on the market - 4 of which were relisted homes - so actually 8. There were 9 sales - which is a pretty good increase from last week. One of these sales was a foreclosure. Another good week, with the inventory dropping, and the buyers might find it pretty hard to find good homes to buy. Once the inventory gets under 100, the market dynamics will change. The only area that you see a lot of fierce competition is in the preforeclosures where buyers are hesitant to buy them because of the uncertainty of whether they even get the home and when they would settle. Due to this, the prices continue to drop in the under 400,000 range.

The market continues to hold its own. There are 110 single family homes for sale in Oak Hill/Herndon down one from last week - so pretty stable the last couple of weeks. There were 4 new listings - one of which was a relist - which remains the same as last week. 5 homes sold this week which is what I think will be what we see through the summer - maybe it will drop to 3 per week. Prices seem to be holding their own. I am not seeing any great steals. I do see that the owners that price their homes correctly up front and have their homes in A+ shape seem to be getting a fair price and are selling in a few weeks. Otherwise, the other sellers seem to follow the market down as they get educated on the complexities of this market. If you have any questions, I will be happy to answer them. Have a great week.