My Real Estate Blog

October 18th, 2010 8:49 AM
The market did fairly well again this week but the traffic in the listings came back down to 2 or 3 through this last week. A few more listings came on the market this week in Oak Hill/Herndon. There were 5 and now the inventory is at 43 - up 3 from last week. To see those, click http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=524916XJRPL&p=DE-126302733-902. The new listing on Viking is a short sale. We had 7 homes sell this week. Although the numbers look good, you need to look at each home to access the market. To see the homes with contracts, click http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=524916XJRPL&p=DE-126302758-902. One was a house that already had a contract, lost it and got one again. It is on the market at a very low price on Keele - $350,000- the lowest price single family home in Oak Hill. Another house on Laneview in Franklin Farm came on the market 114 days ago at $649,000 and they reduced it to $599,900 and then got a contract. So although we had 7 homes sell, you can see the market is still very tough. Sellers need to get their home well priced and in tip top shape to sell at the best price in a shorter time frame. The longer a home is on the market, the lower the eventual selling price will be.

Posted by Angela Mitchell on October 18th, 2010 8:49 AMPost a Comment (0)

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