Press Club

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.”

Arlington’s real estate market maintained its fall pace this week with 65 new listings and 52 ratified contracts.

Some 17 of those sold within just seven days including three homes priced well over $1 million. And many homes sold that had been on the market for over 200 days helping to clear out some old inventory. But that raised the Days on Market to 59, the highest we’ve seen in months.

Overall, Arlington’s real estate market has slowed about 10% from last year. While prices have inched up slightly, the number of transactions is down. And it’s not just Arlington. This is showing up as a national trend. The slowdown in housing could be why Wall Street has taken a less optimistic view of the economy and why the Dow has lost 8.5% in value this month.

The good news is that interest rates remained unchanged with no increases. The most prevalent current rate is 5% with no points. When shopping for a loan, be sure to ask about how many points is built in to their interest rate. Most lenders quote a rate but include at least 1/2 point as an upfront cost of the loan.

Click here 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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