Market Update July 20th thru the 27th

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 contracts this week - which, again, is terrific. I put a home on the market 10 days ago. The home received 3 contracts in the 10 days. The first was a low ball offer that was unacceptable. The second was a good contract but the third came in and took the home at full price. If the market was as sluggish as they say it is, this activity would not have happened - so we are doing well. A very balanced market between the buyers and the sellers. The moral of the story is to price your home well and get it in great shape - you will be rewarded for your hard efforts.