real estate: Market Update Jan 4th thru the 11th - 01/14/08 08:02 AM
Well, we are off at the start of our Spring market - so far starting to look good. The inventory in 20171 for single family homes is at 70 - a little higher than last week - but that would be expected as sellers put their homes back on the market after the Holidays. There were 9 new listings - 3 of which were relisted. The good news is that 4 homes sold - 3 of which were over 600,000. One was at 459,000. The market under 500,000 continues to lag behind because of the heavy competition from the foreclosures. They … (1 comments)

real estate: Market Update December 7th through the 14th - 12/19/07 10:51 AM
The market is starting to look a little better. The inventory is down to 82 single family homes for sales in Oak Hill/Herndon. There were 5 new listings - 2 of which were homes relisted at lower prices. There were 3 homes sold this past week - which is better than the week before and we are so much closer to the Holidays. They were on the market 51, 58 and 25 days respectively. As far as the inventory is concerned, we are back at the figures that we had going into 2007 - which is really great news when you … (0 comments)

real estate: Market Update November 30th though December 7th - 12/19/07 10:49 AM
There were 88 active single family homes going into this weekend for sale in Oak Hill/Herndon. There were 2 homes sold this past week - both having been on the market over 90 days. Also, there were no new lisitngs so the market will probably just continue the same as we go through the holidays. Looking forward to a better market in January. … (0 comments)

real estate: Market Update For November 16th through the 23rd - 12/04/07 11:53 AM
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. … (0 comments)

real estate: Market Update November 23rd to November 30th - 12/04/07 11:47 AM
Well, the market continues to plug along at a snail's pace. This week, there are 90 single family dwellings on the market in Oak Hill/Herndon zip code of 20171. This continues to go down which is a good thing for the sellers competing against themselves. Eventually, the market will stabilize, the buyers will come enter the market and there will not be a lot of inventory to choose from - again, the sellers who can stage their home and price it correctly will win. The reduction is due to the sellers deciding to rent their homes or just sell them at a different time. … (0 comments)

real estate: Market Update for Herndon/Oak Hill October 26th thru November 2nd - 11/02/07 08:53 AM
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 … (0 comments)

real estate: Market Update October 12th thru the 19th - 10/23/07 06:55 PM
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 … (0 comments)

real estate: Market Update September 21st thru the 28th - 09/28/07 10:05 PM
Well, another month has gone by. September was definitely one that real estate agents would like to forget. Going into this weekend, we have 107 active single family homes for sale in Oak Hill/ Herndon - which is actually wonderful news - down from last week. There were 8 new listings - 5 of which were relisted. There were only 2 sales - one was on the market 14 days and one was on 68 days. I think that the fact the inventory did not go up is really good news. I think sellers are hesitant to put their home on the market … (0 comments)

real estate: Market Update 8/24 thru the 31st - 09/06/07 02:06 PM
A very quiet week going into Labor Day Weekend. The total net single family homes on the market in Oak Hill/Herndon is 93 - about the same as last week - good news with the foreclosures coming on. A total of 2 homes sold this week - which is the lowest that it has been all summer. 8 new listings came on - about the same. Usually this time of the year is our slowest real estate market - due to the summer hot days and vacations. September picks up as we go into Fall - so I will keep you … (0 comments)

real estate: Market Update August 17th thru the 24th - 08/27/07 08:41 AM
We are either experiencing the end of summer real estate blues or the finaning issues. The last weeks of August are the biggest beach vacation weeks. This week, we had a slight increase in net listings in Herndon/Oak Hill to 96 single family homes. There were 7 new listings that came to the market but only 2 homes sold for the week. Obviously if only 2 homes sold and we have 96 homes on the market - the months on market for the average home will be 12 months - with 8 homes selling per month.  Only time and hindsight will tell us. The … (0 comments)

real estate: Market Update August 10th thru August 17th - 08/18/07 07:35 AM
We have had another interesting week in real estate. It sure would be nice to predict what the real estate market will do from month to month. So far, there have been incidences of contracts falling apart because the buyer can no longer get the financing that they had been promised. Eventhough this has affected individual sellers and buyers, it has not flooded the market with additional listings. The local market in Herndon/Oak Hill seems to be doing well. Prices still seem to be stable. There are a total of 93 active single family homes on the market - the same as last … (0 comments)

real estate: Market Update July 20th thru the 27th - 07/27/07 09:57 PM
Well, I know the stock market is on a wild ride down. I know the Washington Post and other news vehicles have said that the real estate market is sluggish - but I am not sure they are looking at the Northern Virginia market. The home market in 20171 - Herndon/Oak Hill is doing great. We now have a net of 100 single family homes on the market - significantly down from last week. Less inventory means prices will be stronger. There were only 3 new listings this week - also down from last week. Sales remain strong - 8 homes received … (0 comments)

real estate: Market Update July 13th thru the 20th in Herndon/Oak Hill - 07/21/07 06:45 AM
Another great week in real estate for buyers and sellers in the Oak Hill/Herndon area. There were a total of 111 net singel family listings on the market for this weekend. There were 8 new listings. 9 homes sold this week - which is great for a summer week. There are buyers looking for houses and you can see it in the number of showings a home gets. The saying still goes - price and condition sells a home. Of the 9 homes sold, 3 were on the market less than 30 days (so it is possible), 4 were on the market … (0 comments)

real estate: Market Update from July 6th thru the 13th - 07/14/07 04:36 PM
WIth the fourth of July behind us, the market continues to hold its own. As of Friday, there were 110 net listings on the market in 20171 - up a few from last week. 10 new listings came on the market this week with 6 homes receiving contracts. We continue to maintain the momentum that we have had all year. Prices are keeping firm. August is coming and usually a month that we think of the beach and peole start thinking of getting their children ready for school. September usually picks up for sales. It is a little cooler getting in … (0 comments)

real estate: Market Update June 29th to July 6th - 07/09/07 08:39 PM
First, I want to say that I am sorry I am a little late posting this information on the current market. I was not aware that anybody really paid much attention to this blog. Only joking - but I was at a settlement today and Roger and Jill (you know who you are and congrats on your new home) were worried the market might have fallen apart because I had not blogged in 2 weeks. The truth is, I went on vacation and was not aware that people were really interested on what the market was doing and how I interpreted it - … (0 comments)

real estate: Market Update for June 15th thru the 22nd in Oak Hill/Herndon - 06/22/07 01:15 PM
The market is very stable/improving in the Oak Hill/Herndon zip code of 20171. There are a total of 108 active single family listings for sale as of today. We saw 10 new homes enter into the market and 9 total homes got contracts - which is terrific. The market is definitely not dead this week. Inventory is remaining relatively stable. We should see an overall decrease in active listings over the next month - especially if the home sell at this pace. Again, staging and pricing are the keys to getting a contract in and at the right price. If you … (0 comments)

real estate: Market Update For May 25th thru Jun 1st - 06/02/07 05:37 AM
Another good week in real estate for both the sellers and the buyers. The market has stabilized. This stabilization has been evident since December and has continued through the Spring Market. The Spring Market resembled the markets of 1992 thru 1999 - where we had a pretty fair suppply of buyers and sellers. For the past week, we have a net of 112 single family detached listings in Oak Hill/ Herndon. Of these, 15 were new listings with a total of 7 homes receiving contracts. Not bad for a holiday weekend. We should see a slowing of both new houses coming on … (0 comments)

real estate: Market Update for Oak Hill/ Herndon for May 11 thru the 18th - 05/19/07 09:25 AM
A good week for sellers! There are a net of 115 single family homes in Herndon/ Oak Hill. A total of 8 new homes came on the market - which is lower than last week. Total homes that received contracts were 12 - a great week. The market is holding its own as we finish the Spring market by the end of June. Prices are relatively stable and look to remain that way - so a great time for buyers to be in the market. If you have any specific questions, just post a comment. Have a great NOVA weekend. … (0 comments)

 

Angela Mitchell

Herndon, VA

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Long and Foster

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