The sellers continue to enter into the market. There are now 113 single family homes in 20171 - Herndon/Oak Hill for sale - up from 105 last week. There were 20 new listings - one of which was a relist. A couple of these were foreclosures that continue to come on the market at $150,000 to $200,000 less than they sold for in the high of the market - 2005. A total of 4 homes received contracts last week - one was a foreclosure that was on the market for 189 days. The others were less than 50 days on the market. The glut of homes coming on should be in April. We should then see less new homes coming on as we go through May and the summer months. The inventory should start going down after that.

I hope everyone had a great Easter and a wonderful Spring Break. It is now time to get down to some serious real estate talk. I guess the Washington Post had some positive news on real estate. The market this week did show signs of more life. By that I mean, the listings are still getting about 2 people through each week - but they are not just lookers. The buyers are actually writing contracts so that is great news for the real estate market. Last week in 20171, we are up to 117 homes on the market - up from last week by a few - one of which was a foreclosure - which in itself is good news - maybe the foreclosures entering the market are slowing down. There were 17 new listings - 3 of which were relists. The great news is that 5 homes sold this week and NONE of which were foreclosures. The market seems to either remaining stable or has declined slightly but if this week continues as a trend - it will begin to finally to level off. It is looking like a great time for buyers to start getting serious. If you have any of your own thoughts on this, It would be great to hear from you.

The market lost ground this week as more sellers put their home on the market. There were 105 single family homes on the market this week in 20171 - up from 96 homes just a week ago. 6 homes received a contract - 2 of which were on the market over 300 days. 4 of them were on the market under 30 days. 2 of the homes were foreclosures. The market is losing ground but hopefully this week, the buyers will outnumber the sellers. There were 16 new listings up from 10 last week.  The market remains tough for sellers, but: as always, well maintianed upadated homes will get the top dollar that the market has available. If you have any thoughts on the market, let me know.