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Market Update November 23rd to November 30th

By
Real Estate Agent with Long and Foster
Well, the market continues to plug along at a snail's pace. This week, there are 90 single family dwellings on the market in Oak Hill/Herndon zip code of 20171. This continues to go down which is a good thing for the sellers competing against themselves. Eventually, the market will stabilize, the buyers will come enter the market and there will not be a lot of inventory to choose from - again, the sellers who can stage their home and price it correctly will win. The reduction is due to the sellers deciding to rent their homes or just sell them at a different time. One home sold last week which was on the market for 172 days. The one thing that I noticed this week, in contract to the last 3 weeks, I had 2 potential buyers call me off ads - that has not occurred in awhile - so, hopefully, this means something.

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