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Just Listed in Arlington

by ARLnow.com Sponsor November 18, 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.”

Whether caused by the surprising election results or by some other factors, home owners decided it’s finally time to sell their homes.

New listings jumped up to 50 this week, the most in five weeks. While that’s good news for buyers, the bad news is that interest rates also shot up this week. Before the election, rates were about 3.6% for a 30-yr fixed rate. Today, ten days later, the rates are 4% and expected to continue climbing.

Buyers this week ratified 58 contracts outpacing new listings again. The pressure on available inventory was evident this week as seven of the homes sold had been on the market for over 200 days. Two of those had been on the market for over 500 days. This raised the average days on market in Arlington to 83.

Home values are a tale of two markets in Arlington. Year to date, the average price of a condo has declined 3.68% over the same period as last year. Single family detached homes, however, have increased in value by 2.48%, according to data from RBI, the statistical division of MRIS.

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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