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.”

It may be cold outside but Arlington’s spring market is warming up!

The past week’s snow didn’t slow anyone down: buyers ratified 40 contracts and seller’s listed 31 homes. Of the 40 ratified contracts, 15 sold within a week of hitting the market.

Mortgage rates are in a hold pattern right now at around 4.5% for a 30-yr fixed rate with no points. This is still lower than rates we’ve seen in the last 9 months and has spurred an increase in loan applications.

The Washington Post reports this as the highest loan application volume since April of 2010! While loan applications don’t necessarily equal ratified contracts, they are an important indicator. What we do know is that ratified contracts in Arlington increased by 38% since just last week.

The federal government shutdown has impacted access to the usual economic data for lenders and this uncertainty has led to no significant changes to rates. The result of this pause is some surprisingly good news for both buyers and sellers as we are seeing an increase in market activity.

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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