Herndon Housing Market Stats — September 2019

September 2019–

  • 95 homes went under contract in Herndon. That is up (66.7%) from the same time period in 2018.
  • 45.36% of homes that went to settlement in September 2019, sold in 10 days or less from when they hit the market.
  • Median sold price is $507,000(up 2.8% from the same time period in 2018 when it was $493,000).
  • 109 homes came on the market. That’s up 3.8% from September 2018.
  • Homes that sold (closed) averaged 29 days on the market, 27 days faster than in September of 2018.
  • There is currently a 1.29 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 126 homes for sale (townhouse, condo and single family).

OVERALL: Herndon remains in a Seller’s Market. We continue to see strong demand with homes going under contract up 66.7% from the same time last year. National reports of home sales dipping 2.2% have not affected the Herndon area and with 1.29 months of housing supply we continue to see a hot housing market. To put months of supply in perspective, the current national housing supply average is 4.1 months and Herndon’s 5 year average is 2.4 months. Low supply + high demand = hot seller’s market

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