Just Listed in Arlington

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 pace of real estate activity slowed this week in Arlington with only 69 new listings and only 48 ratified contracts.

But 17 of those homes sold within a week of hitting the market. The average days on market this week climbed to 48 with half a dozen homes finally selling that had been for sale over six months.

Nationally, existing home sales slipped 3.2% in January over December, and 4.8% over last year. Lack of inventory is blamed, and a slight drop off in sales by first time home buyers. The trend continues of college grads moving back in with mom and dad to save money and pay off school loans rather than buy their first home.

Currently there are only 361 homes actively for sale in all of Arlington. At the current rate of absorption, that is only 1.3 months of inventory.

Interest rates continued their slow gradual climb this week increasing about six basis points to 4.55% for a 30-yr fixed rate. Rates vary greatly among lenders in this rapidly changing environment, so be sure to shop around before locking in your 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.