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Just Listed in Arlington

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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 summertime blues have finally hit Arlington’s real estate market. This first week of August witnessed only 58 new listings and only 53 ratified contracts. Further evidence of a slowdown is a report that mortgage applications for home purchases dropped 2% this week.

Interest rates flattened again with virtually no change. The 30-yr fixed rate is still lingering at about 4%. It’s a good time to buy, especially for renters. While the summer market is slow, it gives buyers more room to negotiate aggressively. Inventory has risen from about 2.1 month’s supply just four months ago, to 2.6 months as of this week. And, the median rent rate in Arlington rose 10% since February when it was $2,950. Today, the median rate is $3,250. It’s time for renters to get off the fence and buy a home now.

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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