Market Update August 17th thru the 24th

We are either experiencing the end of summer real estate blues or the finaning issues. The last weeks of August are the biggest beach vacation weeks. This week, we had a slight increase in net listings in Herndon/Oak Hill to 96 single family homes. There were 7 new listings that came to the market but only 2 homes sold for the week. Obviously if only 2 homes sold and we have 96 homes on the market - the months on market for the average home will be 12 months - with 8 homes selling per month.  Only time and hindsight will tell us. The market picks up in Fall - usually mid September.  Enjoy your Labor Day weekend!