Arlington, VA

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 have been happy this week to see inventory pick up giving them more choices. But not so happy to see interest rates creep back up.

Home sellers listed 105 properties this week and buyers ratified 61 contracts, 23 of those within seven days. The market is still strong as we slide into summer.

Mortgage rates dropped 10 basis points last week caused by the turmoil in Italy’s elections so investors moved their capital to safe US Treasury 10-yr bonds, which drove the yield down.

But this week rates bounced back up over 6 basis points and are expected to continue the slow steady climb in the weeks ahead. The 30-yr fixed rate is now at about 4.7%-4.75% with no points.

Nationally, home values increased over the last three months by 6.9% with Washington state leading the nation with about 10% increase. But here in Arlington it’s a different story. In the last three months, single family home prices increased 2.9% with an average sales price of $1,033,734. Meanwhile, condo prices enjoyed a 5.1% increase with an average sales price of $458,981.

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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