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.”
Buyers enjoyed a tidal wave of new listings this week, but rising interest rates rained on their parade.
Some 92 fresh new listings came on the market in Arlington, and buyers ratified 54 contracts. An incredible 24 new listings sold within seven days. And 10 of the homes ratified this week were listed over $1m helping to strengthen the upper end market.
But buyers got hammered by a jump in mortgage rates. The 30-yr fixed rate is now 1/4% higher than it was last week ranging now at 4.5%-4.65% for a 30-yr fixed. In this volatile mortgage market, rates vary greatly among lenders so buyers should shop diligently, and quickly, once they ratify an offer and can lock in their rate. A half point increase would cost roughly $90/mo on a $300k loan.
Rates are expected to continue their climb. Inflation surged last month by 1/2% to an annual rate 2.1% which will likely inspire the Federal Reserve to raise short term rates sooner than later this 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.
- 1024 N. UTAH ST #117, ARLINGTON, VA 22201 – $379,900
- 4407 20TH RD N., ARLINGTON, VA 22207 – $799,900
- 1452 N. LONGFELLOW ST, ARLINGTON, VA 22205 – $845,000
- 3306 N. COLUMBUS ST, ARLINGTON, VA 22207 – $924,500
- 3002 3RD ST N., ARLINGTON, VA 22201 – $998,900
- 1114 N. JOHNSON ST, ARLINGTON, VA 22201 – $1,190,000
- 1138 N. HARRISON ST, ARLINGTON, VA 22205 – $1,284,900
- 929 N. DANIEL ST, ARLINGTON, VA 22201 – $1,934,900