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.”

What a difference a week makes. After our slow start last week, Arlington’s market has sprung into life with 33 new listings and 29 ratified contracts.

And top that off with great news for buyers. Mortgage rates dropped 10 basis points to 4.5% for a 30-yr fixed rate with no points which encouraged 20% more buyers to apply for mortgages. These rates are the lowest in nine months. Economists reading the tea leaves anticipate these rates staying steady for quite a while.

Data released by the multiple listing service Bright/MLS indicate the entire DC Metro area experienced an increase in median home sale prices in 2018 over 2017, EXCEPT Arlington. Prices were up 5.9% elsewhere, but were down 2.6% for Arlington. Don’t panic. Your home’s value most likely did not go down. The “median” is the middle point of all the data. Arlington had many more condo sales than detached home sales in 2018, which skewed the median.

The federal government shutdown has not yet had an impact on buyers in our area, but it could if it continues another few weeks as it will be difficult for lenders to verify federal workers income. This could cause delays in lender approval of loan applications.

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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