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.”
We’ve barely made it to Valentine’s Day (hope you remembered the flowers) and Arlington’s Spring real estate market has already blown up.
This week sellers listed 42 homes and buyers ratified 58 contracts, and 23 of those were on homes only seven days on the market. More than half the new listings sold within a week! Amazing. And of course there were bidding wars.
What’s a buyer got to do to win? To the best of your ability, go big on price and take out as many contingencies as you can. Remember, every home you lose becomes the comp for the next listing. A buyer needs to get out ahead of the market just once to win, otherwise the buyer gets farther behind.
Interests rates bounced upward a bit this week on news that some inflation factors bumped up. The 30-yr fixed rate is at about 4.5%-4.6%.
Nationally, there are already signs that the housing market is not keeping pace with the strong U.S. economy. The number of sales and total sales volumes are down from last year, which itself was a down year. Some economists point to three reasons: student debt holding back first time home buyers, inventory shortage nationwide and uncertainty about mortgage interest rates.
Buyers and sellers are both effected by these conditions. Many home owners want to sell and either move up, move down, or move out, but they can’t find a suitable replacement home. And home buyers are squeezed by rising prices, no choices, rising mortgage rates and relatively flat household income.
As economists generally agree, the U.S. housing market has a profound influence on the U.S. economy.
When you are thinking of buying or selling real estate, call Team Cathell for a free consultation at (703) 975-2500.
Click to see all the fresh new inventory in MRIS.
- 3052 S. Buchanan Street C1, Arlington, VA 22206 — $424,900
- 1021 N. Garfield Street Unit 420, Arlington, VA 22201 — $495,000
- 1200 N. Nash Street Unit #515, Arlington, VA 22209 — $774,900
- 1823 N. Taylor Street, Arlington, VA 22207 — $859,900
- 504J N. Thomas Street, Arlington, VA 22203 — $899,999
- 6231 26th Road N., Arlington, VA 22207 — $1,220,000
- 4625 N. Dittmar Road, Arlington, VA 22207 — $1,250,000
- 5117 26th Road N., Arlington, VA 22207 — $1,849,900