The market continues to be sluggish again this week with the inventory creeping up. There are 106 net single family listings on the market in Herndon/Oak Hill. There were 11 new listings - 3 of them being homes that are being relisted. Three homes sold this week. They had been on the market 23, 69 and 110 days respectively. The one thing I noticed this week was the number of homes sold in Herndon/Oak Hill, Vienna, and Reston for the month of September. I updated those pages today and only 7 single family homes went to settlement in all of Reston in the month of September - about 1/3 the usual amount. The same with the numbers for Vienna. The numbers are really low. With interest rates low again, hopefully we will get some activity going.

The market seemed to pick up the week before but now it seems to have slipped back into it's funk. The number of active single family listings in Oak Hill/ Herndon is now at 110 - up from last week. There were 8 new listings with 3 of them relisted. There was 5 foreclosures - they seem to be a stable number. The disappointing news is that only 2 homes sold in the last 7 days - down again from last week. With 110 homes on the market to choose, with 8 homes selling a week; the buyers will have many choices. So..it is a great time for buyers to buy. Have a safe and Happy Halloween.

The market in Oak Hill/Herndon worsened a little this week. We have a total of 107 listings going into the weekend of the 19th - which is an increase from last week. 3 homes sold last week out of the 107 listings. 12 new listings came on the market - 6 of which were reissued listings. There are total of 6 single family homes in foreclosure that are currently on the market. There still seems to be more buyers out there than we have had in the past 60 days - but still not a lot of sales. We overall are doing much better than Loudoun - so being closer in is a better investment. A home that I sold in 2005 for $539,000 just came on the market as a foreclosure for $389,000. Amazing prices. I think and see the investors are starting to come in and buy the distressed homes. Do you think the market is going to get worse or better, let me know. I be interested in someone else's perspective. The issue now is what will the Spring market in January be like. Got any thoughts? Have a great day and enjoy.

The market is looking a little better this last week.  We have a total of 103 detached homes in Oak Hill/Herndon for sale - down a little from last week. We had 8 new listings - 2 of which were relisted at different prices.  The good news is that 5 homes sold - up from last week. They were on the market from 6 days to 313 days. What it looks like to me is that the market is trying to hold its own. It seems the traffic thru the houses on Opens and regular real estate traffic is down to 1 or 2 per week. I also think the investors are buying up the foreclosures - which is helping stabilize the market by getting those houses off the market. I think this is true of this area of Fairfax County. I think Loudoun is facing more difficult problems. I showed approximately 75 townhomes in the last 4 days to two different buyers. Of those 75 townhomes, ninety percent were vacant. In Loudoun, 50% of them were foreclosures or short sales. If the market continues to do what it is doing, we should see firmer prices in January - making this a great time for buyers to buy.