Current Herndon-Oak Hill real estate statistics for 20171 are below and updated by the 13th of each month. The 20171 zip code includes Franklin Farms, Fox Mill Estates, Discovery Square, and Frying Pan Park with its many activities.
These are some of the more important OakHill-Herndon real estate market statistics for 20171 to help gauge overall trends in residential home sales. There are also brief overviews of each graph to help explain the reason it has been included and its importance to the market statistics.
Herndon-Oak Hill Real Estate Market Gauge for 20171:
Herndon-Oak Hill Market Activity:
This graph shows the current active listings and closed sales of the Herndon-Oak Hill real estate market over the last 12 months. Also included are the number of new listings on the market and pending listings, which are the homes under contract. This is useful to Herndon-Oak Hill home sellers and home buyers to understand the current market trends and price pressures. The smaller the difference between the active listings (yellow line) and the sold listings (blue line) the more we are in a sellers market. This can cause a pressure for prices to increase.
Median Sold Price in Herndon-Oak Hill:
Below is the median sold price over the last three years for detached Homes, town homes, and condos in the Herndon-Oak Hill real estate market of 20171. This is the current price trend to gauge the general direction of prices. Over pricing a home in Northern VA can cause it to sit on the market and become stale, read this article for further information, Home pricing Mistakes and How to Avoid Them. Conversely homeowners who under price a home may leave money on the table. At times this graph may show some spikes which is caused by a low number of home sales in that particular month.
Average Home Sales Price vs. List Price Ratio in Herndon-Oak Hill:
Correctly pricing a home is critical to home sellers to net the most money while avoiding a stale listing distinction. Here you will find the percentage of list price to sold price ratio to determine what the average home buyer is currently negotiating from list price in 20171. These graphs are broken down into price ranges since often different price ranges can have different results. Please keep in mind these are averages and I recommend to consult with an experienced agent on specifics of each individual property. (Example of Calculation: Ratio of 97.2% means seller and buyer negotiated 2.8% off the list price) (****this does not include any negotiated seller paid closing costs for the buyer)
Herndon-Oak Hill Supply of Homes in Months:
Here are the number of months it would take to sell the current inventory of homes in Herndon-oak Hill. This is a good thermometer of each price range in the 20171 residential real estate market. Breaking these results into price ranges paints a different picture for a $450k home as compared to a 1 million dollar home. A general rule of thumb is, the higher the price of a home the longer it takes to sell.
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