My Real Estate Blog

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.

Posted by Angela Mitchell on June 7th, 2008 3:20 AMPost a Comment (0)

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