August 2019–
- 109 homes went under contract in Herndon. That is up (49.3%) from the same time period in 2018.
- 41.32% of homes that went to settlement in August 2019, sold in 10 days or less from when they hit the market.
- Median sold price is $505,000(down 0.3% from the same time period in 2018 when it was $506,500).
- 115 homes came on the market. That’s up 22.3% from August 2018.
- Homes that sold (closed) averaged 29 days on the market, 20 days faster than in August of 2018.
- There is currently a 1.1 month supply of homes (remember, in a balanced market – the demand from buyers equals the supply from sellers – there is a 5-6 months supply) in Herndon – and 134 homes for sale (townhouse, condo and single family).
OVERALL: Herndon remains in a Seller’s Market. We saw strong demand with homes going under contract up 49.3% from the same time last year. Homes that came on the market were up 22.3% from August 2018 but months of supply still shrunk from 1.6 to 1.1 months.
