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Just Listed in Arlington

by ARLnow.com Sponsor — March 17, 2017 at 8:30 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.”

The snow must have scared off sellers from listing their homes this week. Only 62 new listings came on the market, compared to 87 new listings last week. But buyers proved that the market is at full throttle by ratifying 83 contracts this week. Of those, the average days on market has dropped to just 32, and the average list price rose to $675,609. Of those sold, 33 were snatched up within a week of hitting the market.

At this pace of sales, and with only a total of 427 homes actively for sale, Arlington’s inventory has shrunk to just 1.28 months of supply. That’s starting to look like the crazy days in 2005. It’s undeniably now a seller’s market.

Mortgage rates bounced up and down this week with the Feds hike in its short inter-bank rate. Mortgage rates actually dropped right after the announcement. Rates ended the week lower at 4.25% for a 30-yr fixed rate. The Fed’s move will make consumer debt more expensive. The average credit card holder will pay $40 more per year in interest. And a home equity line of $30,000 will cost an extra $75 a year.

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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