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 revved up this week after coming out of last week’s coma. Buyers ratified 63 contracts and sellers listed 50 homes. But inventory remains painfully low for buyers. With 479 homes actively for sale, and with the current rate of absorption, Arlington has only 1.9 months of inventory indicating it should still be a seller’s market. A market is considered in equilibrium when it has about 5.5 months of inventory.
Arlington is eagerly awaiting Amazon’s decision on HQ2, and hoping the nod will go to Crystal City. Property owners are already expecting their values to increase, but I would urge them to lower their expectations. Most of Amazon’s hiring would be local. Only a small percentage would be hired from outside of the area, so increased demand on housing, if any, would likely be insignificant.
Zillow fans were stunned this week when the website giant announced it lost 26% of its value on Wall Street. It blamed rising interest rates and a downward market shift. It’s revenues from selling leads to agents dropped dramatically. We will all have to wait and see how this plays out.
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.
- 1931 N. Cleveland Street Unit #403, ARLINGTON, VA 22201 — $285,000
- 1050 N. Taylor Street Unit #1-202, ARLINGTON, VA 22201 — $462,000
- 4646 4th Street S., ARLINGTON, VA 22204 — $629,900
- 1137 N. Utah Street, ARLINGTON, VA 22201 — $635,000
- 830 S. Monroe Street, ARLINGTON, VA 22204 — $825,000
- 33 N. Garfield Street, ARLINGTON, VA 22201 — $889,900
- 4107 N. Randolph Street, ARLINGTON, VA 22207 — $989,900
- 3110 N. Thomas Street, ARLINGTON, VA 22207 — $1,198,000