Herndon Housing Market Data

There was an increase in total units sold in April, with 74 sold this month in Herndon Real Estate. This month's total units sold was higher than at this time last year.

Versus last year, the total number of homes available this month is lower by 86 units or 38%. The total number of active inventory this April was 141 compared to 227 in April 2011. This month's total of 141 is higher than the previous month's total supply of available inventory of 119, an increase of 18%.

Last April, the median sale price for Herndon Homes was $405,000. This April, the median sale price was $447,500, an increase of 10% or $42,500 compared to last year. The current median sold price is 3% higher than in March.

In April, there was 1.9 months of supply available in Herndon, compared to 3.3 in April 2011. That is a decrease of 43% versus a year ago.

This month there were 150 homes newly listed for sale in Herndon compared to 160 in April 2011, a decrease of 6%. There were 112 current contracts pending sale this April compared to 84 a year ago. The number of current contracts is 33% higher than last April.

In April, the average sale price in Herndon was 97.9% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 24, lower than the average last year, which was 28, a decrease of 14%.




Focus On: Herndon Housing Market			April 2012
Zip Code(s): 20170 and 20171
Units Sold 74	Active Inventory 141	Median Sale Price $447,500	Days On Market 24

Up Vs. Year Ago	Down -38% Vs. Year Ago	Up 10% Vs. Year Ago	Down -14% Vs. Year Ago

		Units Sold There was an increase in total units sold in April, with 74 sold this month in Herndon Real Estate. This month's total units sold was higher than at this time last year.
Active Inventory Versus last year, the total number of homes available this month is lower by 86 units or 38%. The total number of active inventory this April was 141 compared to 227 in April 2011. This month's total of 141 is higher than the previous month's total supply of available inventory of 119, an increase of 18%.
		Median Sale Price Last April, the median sale price for Herndon Homes was $405,000. This April, the median sale price was $447,500, an increase of 10% or $42,500 compared to last year. The current median sold price is 3% higher than in March. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 150	Current Contracts 112	Sold Vs. List Price 97.9%	Months of Supply 1.9

Down -6% Vs. Year Ago	Up 33% Vs. Year Ago	No Change Vs. Year Ago	Down -43% Vs. Year Ago

		Months of Supply In April, there was 1.9 months of supply available in Herndon, compared to 3.3 in April 2011. That is a decrease of 43% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 150 homes newly listed for sale in Herndon compared to 160 in April 2011, a decrease of 6%. There were 112 current contracts pending sale this April compared to 84 a year ago. The number of current contracts is 33% higher than last April.
		Sale Price to List Price Ratio In April, the average sale price in Herndon was 97.9% of the average list price, which is similar compared to a year ago. Days on Market This month, the average number of days on market was 24, lower than the average last year, which was 28, a decrease of 14%.



Herndon are defined as properties listed in zip code/s 20170 and 20171.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
Information included in this report is based on data supplied by MRIS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of MRIS or Long & Foster Real Estate, Inc.