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Just Listed in Arlington

by ARLnow.com — July 15, 2016 at 6:00 am 0

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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.”

Arlington’s real estate market bounced back this week with a surge of fresh inventory and increase in number of homes sold.  Some 75 new listings came on the market, while 63 homes went under contract.  Buyers were busy snatching up last week’s inventory in record time, dropping the average days on market to only 34.

Mortgage rates also dropped to a 3-year low this week and then stabilized.  Economists expect these low rates to remain unchanged for the summer. Freddie Mac reports the average national rate for a 30-yr fixed rate mortgage is just 3.47%. These record low rates have caused a spike in loan applications, up 66% from a year ago. Some two-thirds of those applications are for refinance.  We should see Arlington buyers this summer taking advantage of the low rates and boosting sales above the normal slow summer pace.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

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