Herndon, VA Real Estate News

By Angela Mitchell
(Long and Foster)
The weekend promises ugly weather but, hopefully, the real estate market will Spring into action. We have a a total of 109 single family homes in Oak Hill/Herndon as of today. 22 new listings this week with 8 sales since last Friday. The total number of net listings is up 9 from last Friday. We continue to absorb the market - a tad bit slower each week. If we can get thru next weekend and keep the net increase to a minimum, we should have a fairly stable market. So far, the inventory is up 25% in 3 weeks (75 to 109) - but homes are still selling. The number of new homes entering in the market should start to decrease - which should make for a healthy May and June. If you have any questions on what you are seeing in your neighborhood - just post it. Have a great weekend!
Comments 0
By Angela Mitchell
(Long and Foster)
For the first two weeks of April, the market is slipping a little but still doing well. In Oak Hill/Herndon, there are 100 active listings - up from 78 two weeks ago. 27 new homes came on the market in the last 14 days with 14 homes getting contracts - net increase of 22 homes - this includes those homes that have come off the market for other reasons. This weekend, the 16th, should be a big week for new listings. If the market can absorb this influx, the market should remain relatively stable and be a stable buyers and sellers market. Prices have firmed up for the sellers. Homes in great shape and well priced are selling in a 14 day period. If you have any comments on what you are seeing in your neighborhood, I will be happy to answer or research any questions.
Comments 2
By Lenn Harley, Real Estate Broker - Virginia & Maryland
(Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate)
I love statistics.  Give me a bunch of facts and I'll find a useful statistic.  I just did a custom search for SOLD statistics for Herndon Virginia for homes that settled in March 2007.  As you can see, not only are SOLD prices now lower than the Original List price, the subsidies are significantly more numerous and higher than last year or the year before.  The SOLD facts below represent a town in Fairfax County.  Herndon is a wonderful little town that is located on the outer edge of the county near Loudoun County, so prices in Herndon are lower than the average for Fairfax County.  However, since Herndon is also located on the Dulles Toll Road, it is an easy commute to the Beltway and points north.  The statistics published by our MLS do not make an adjustment for subsidies.  So, the...
Comments 5