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.”

The real estate market in Arlington returned to a normal December pace this week with 34 new listings and 48 ratified contracts.

Sellers generally avoid putting their homes on the market between Thanksgiving and Christmas because historically it’s the slowest time of the year. But for Arlington, the Amazon HQ2 decision has sparked heightened home buyer and investor activity. Of those 48 homes that sold, 10 were gone in less than seven days on market and some of those enjoyed multiple contracts.

Economists from the Fuller Institute at George Mason University said on Wednesday that the Amazon impact on housing will likely not be as broad as many anticipate. They studied the impact in Seattle and found that properties within about 1 mile of Amazon’s HQ experienced about two percent higher value than other areas.

The average Amazon salary in Arlington will be about $150,000 which can support a home price of about $800,000 with today’s mortgage rates. So, the market priced $800,000 and below should see a bump. Also, these new jobs will be phased in over 12-16 years.

Meanwhile, mortgage rates started the week at their lowest since early September at 4.65% for a 30-yr fixed rate, but by the end of this week had inched up 5-10 basis points to about 4.75%.

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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