Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Team Cathell, “Your Orange Line Specialists.”
Arlington is now experiencing a market compression, and buyers are feeling the pain. Total transactions for the first quarter are down 20 percent from last year. Our never-ending winter suppressed our housing market.
But total volume for 2014 is expected to top numbers for 2013 as part of the trend since 2011. So if 2014 will end higher than 2013, then the market will need to jump into hyper gear and make up the 20 percent loss. And that is exactly what we are now experiencing. Pent up demand has been unleashed on Arlington’s improving inventory and bidding wars are once again common. The market right now is hot, hot hot. It’s great for sellers, and fresh inventory is coming into the market with 105 new listings this week and 84 listings that went under contract.
While the first quarter volume was down, the average sales price for a detached home in Arlington increased by 11 percent. Again, great for sellers but a hardship for buyers who have not yet ratified a contract. Hopefully our late blooming spring market will extend well into the summer and give buyers a chance to experience the benefits of home ownership.
- 2917G WOODLEY ST #1, ARLINGTON, VA 22206 – $334,800
- 2614F ARLINGTON MILL DR S #6, ARLINGTON, VA 22206 – $369,500
- 58 N BEDFORD ST #58B, ARLINGTON, VA 22201 – $409,000
- 4321 32ND RD #244, ARLINGTON, VA 22206 – $499,000
- 2637 MILITARY RD, ARLINGTON, VA 22207 – $739,900
- 201 CLEVELAND ST, ARLINGTON, VA 22201 – $997,000
- 3011 3RD ST N, ARLINGTON, VA 22201 – $1,099,900
- 25 N HIGHLAND ST, ARLINGTON, VA 22201 – $1,225,000
This week, Ask Eli is answering your questions about the appraisal process, including how long it takes and how to challenge an appraisal.
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