Market Update July 27th thru August 3rd

We had a significant drop in inventory going into this weekend in Oak Hill/Herndon. The total number of single family active listings for this weekend is 93. If the inventory continues to drop, buyers will have a harder time finding great homes. Prices on homes in great condition will be stronger. The inventory is now sitting at December 06/early Spring numbers. 9 new homes came on the market this weekend and 4 homes got contracts. This was also lower this week. The four homes were on the market  19 to 175 days - majority selling under 60 days.  Welcome to August. 30 more days and the kids will be back in school. This is the big beach month.