Market Update For May 25th thru Jun 1st

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 the market and houses receiving contracts as the schools let out and pools open. Summer is almost here.