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.”
We have good news and bad news this week.
The good news is that our Arlington real estate market has perked up beyond a normal pace for mid-December. Some 41 new listings came on the market this week, while 43 homes sold.
The bad news is that buyers’ purchasing power is eroding. The increasing mortgage interest rates and increasing home values right now are outpacing increasing incomes. And the Federal Reserve on Wednesday increased it’s short term rate by a quarter of a point and signaled three more rate increases are likely in 2017. The Fed anticipates inflation increasing from its current 1.5% to 2% in 2017. The Fed chairman cited the strengthening economy in its decision to raise rates.
Mortgage rates have climbed 12 basis points since last week, settling at 4.27% for a 30-yr fixed rate.
Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.
- 3021 22nd St S, Arlington, VA 22204 – $485,000
- 4103 11th Pl N, Arlington, VA 22201 – $519,900
- 5718 4th St N, Arlington, VA 22205 – $550,000
- 900 Jacksonville St, Arlington, VA 22205 – $700,000
- 808 Quincy St, Arlington, VA 22204 – $794,800
- 501 Garfield St S, Arlington, VA 22204 – $829,000
- 4762 1st St N, Arlington, VA 22203 – $1,069,900
- 1814 Quebec St, Arlington, VA 22207 – $1,125,000