We are approaching the holidays - my favorite time of the year - which is a natural slow down period. In 20171, we had 98 active single family listings - down from last week. I believe last year we got to around 85 active listings before the end of the year. Almost all of the reduction is due to sellers taking their homes off the market and renting them or deciding to try at another time. It is a tough time right now. Only one home sold in the last 7 days. There are still 5 foreclosures on the market -so that number is not increasing - which is a healthy sign. Only 2 new homes came on the market. The good news for the sellers is that as the inventory dries up - those sellers with good pricing and show above average will sell. Buyers will find their choices limited. I would think that we should have a good first of the year in 2008 - since we do not seem to be inundated in foreclosures.

I hope everyone had a happy and safe Thanksgiving. The market did not do too much during the week - much as expected. The number of active single family listings in Oak Hill/Herndon is at 98 with 6 new homes coming on the market - one of which was relisted. No homes received contracts this past week - I guess everybody was enjoying turkey and stuffing. Hopefully, we will rally through December - we did last year.

The overall foreclosure news is still not good but we seem not to be as bad as the rest of the county or in Loudoun. There are a total of 96 active single family homes in Oak Hill/Herndon going into this weekend down from last week figures of 98. I think, as we go through the holiday season, this number will continue to fall - which is a healthy sign for sellers. There were 5 new listings on the market this week - one of which was a reissued listing. The number of foreclosures remain at 5 - again, another healthy sign. A total of 4 homes sold this week. They were on the market from 3 to 105 days. If we can sell 4 homes a week with this number as our inventory - we will be doing great - back to the earlier part of this year before the bank foreclosure report in July that sent a shock through our market. Keep your fingers crossed and hope that you have a safe and wonderful family Thanksgiving. It will be tough this week to predict anything unless we have at least 3 homes sell.

Quite a few homes went up for rent instead of sale this week - which is good for those truly trying to sell their home. The inventory has come down to 103 active single family homes in Oak Hill/ Herndon. There were 5 new homes listed this past week. We still have the 5 foreclosures - which have not sold yet. We had 3 homes sell this week - better than last - so maybe we are getting some strength. They were on the market respectively 80, 90 and 126 days - this is reflecting the number of homes we have and that fact 10 - 12 homes are selling each month. I hope everyone had a safe Halloween.