Arlington, VA

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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.”

The long Easter holiday weekend seems to have slowed Arlington’s real estate market this week with fewer listings and sales than in the previous few weeks. Only 67 new listings came on the market this week, while only 61 properties sold. Last week, 89 homes went under contract. There were also fewer bidding wars this week which was great news for buyers. The average days on market remains steady at 46.  Overall inventory is still far below that of a balanced market.

Mortgage interest rates this week dipped a tiny bit by about 7 basis points to an average of 3.83% for a 30-yr fixed rate. There was some intriguing economic news this week that could impact our housing market later this year. The Fed chairman stated she did not anticipate any further rate hikes this year, which has caused the dollar to weaken against major foreign currencies. That was unwelcomed news for Wall Street which saw its value drop, but it’s not such bad news for U.S. workers and the overall U.S. economy. When the dollar weakens, U.S. goods and services become cheaper abroad stimulating greater trade that helps our trade deficit and helps create more American jobs at home. American workers should hoist a brew and thank Fed Chair Janet Yellen for that.

Other economists this week said they expect the yield on the 10-year U.S. Treasury note to drop a little bit this year. The yield is more directly linked to long term interest rates like mortgages. So we may actually see mortgage rates stay at the current low level or even drop further, while at the same time American job growth gets a stimulus. Both conditions would add strength to our housing market this year.

Meanwhile, the listing of the week is actually not in Arlington but just a few feet over the border in McLean.  Check out this fabulous contemporary in Franklin Park, listed below.

Click to see all the fresh new inventory in MRIS and call Team Cathell when you find a home you like.

You can access all active listings in Arlington on the Cathell Team website.


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