Market Update November 9th thru the 16th

By
Real Estate Agent with Long and Foster
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.
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