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Just Listed in Arlington

by ARLnow.com Sponsor April 6, 2018 at 6:00 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.”

There’s a reason why trying to make sense of a housing market drives economists crazy.

This week, for example, in the prime Spring market some 91 sellers listed their homes for sale, but only 53 buyers ratified contracts. There were no snow storms stopping buyers from touring homes, no natural or political disasters. Buyers were just not motivated this week.

The slow pace of absorption raised the level of inventory in Arlington to two months. But the average days on market stayed steady at 28. Of the 53 ratified contracts this week, 20 of those homes sold within seven days.

Arlington seems to be settling into a tale of two markets. Homes priced below $900,000 may receive multiple offers and sell quickly, while homes priced higher typically may linger a few weeks before that single offer comes in. We are hearing more and more of bidding wars on homes priced at $300,000 to $700,000.

Buyers enjoyed the good news this week that mortgage rates dropped for a second consecutive week. Freddie Mac reported that the 30-yr fixed rate dropped four basis points to about 4.5% with no points. Trade-related anxiety in financial markets pushed the yield down on the benchmark 10-year Treasury bill. Mortgage rates followed.

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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