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Just Listed in Arlington

by ARLnow.com Sponsor May 4, 2018 at 6:00 am 0

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.”

It’s been another wild and crazy week for real estate in Arlington with some good news for home owners.

Buyers were thrilled to see more fresh inventory as sellers listed 122 homes for sale this week. Buyers were quick to act by ratifying 79 purchase contracts, with an incredible 44 of those on homes that had been listed for less than a week. Agents are telling stories again of bidding wars with as many as 15 contracts on a new listing.

With 487 homes currently for sale in Arlington, and at the current rate of ratified contracts, Arlington has only 1.5 months of inventory. If no more homes came on the market, all the available stock would be sold out in 1.5 months. A market in equilibrium is considered to have 5.5 months of inventory.

Mortgage interest rates actually declined this week by three basis points, moving the 30-yr fixed rate to about 4.65% with no points.

But the good news for home owners is that Arlington is enjoying some home value appreciation, finally.

Buyer demand has pushed prices up 2.7% for existing home sales (not including new construction or condos) for the period Feb-March-April over the same period last year. This is a major improvement over 2016 and 2017 which saw zero appreciation. The average home sale price is now $907,585.

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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