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Just Listed in Arlington

by ARLnow.com Sponsor — November 11, 2016 at 10:15 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.”

It’s over. America’s torment enduring 16 months of nasty negative campaign media bombardment is over. It’s time to move on, and Arlington’s home buyers have done that by ratifying 50 contracts this week.

That record outpaces sellers once again who put only 42 homes on the market this week. At this pitiful rate of new listings and ratified contracts, Arlington has only 2.75 months of inventory. It’s still a strong sellers’ market. Available single family homes are so scarce that properties that have been on the market 8-9 months sold this week, without recent price reductions. This pushed the average days on market up to 66.

A note of caution if you start to see media reports that Arlington’s average sales price has gone down since last year. Statistically that’s true, and that’s because the ratio of single family homes sold to condo sales has dropped significantly. Average condo prices are much lower than single family prices, and so the greater number of condo sales has pulled down the overall average for all home sales in Arlington.

So don’t panic. Single family homes and townhome values have gone up since last year. More on that later.

Note coming soon: 1) a 3BR single family home in zip 22201; 2) a 2BR condo in Clarendon. Call for more information.

Meanwhile, interest rates spiked this week on the surprising election news. The 30-yr fixed rate jumped 5-25 basis points in a still volatile environment ending today at 3.65%-3.85%.

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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