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.”
Bidding wars continued to torment buyers this week as the Spring market heats up further.
Some 45 buyers ratified contracts and 16 of those homes were on the market less than a week. Homes receiving more than one offer tended to be in the moderate to lower price range of $750,000 and below.
Sellers did their part by listing 51 homes and helping to rectify our problem of low inventory. With only 195 homes actively for sale in Arlington and at the current rate of absorption, there’s only 1.1 months of supply.
Technically, it should be a strong seller’s market. A market is considered in equilibrium when there’s about 5.5 months of inventory.
Buyers got some good news. Mortgage rates dropped this week to 4.375% for a 30-yr fixed rate. A Federal Reserve report said the Fed does not expect to raise its bank rates for the foreseeable future as it watches carefully the U.S. and global economies.
There were signs this week of a slowing U.S. economy with weak retail sales in the 4th quarter. JP Morgan economists see the U.S. GDP growing at only 1.5% for the 1st quarter after a sluggish 4th quarter of only 1.4%.
But Freddie Mac economist Sam Khater had some good news for buyers saying that nationally “wages are growing on par with home prices for the first time in years…” Let’s hope that development hits our area soon.
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.
- 1050 N. Taylor Street Unit #1-109, Arlington, VA 22201 — $369,500
- 4816 28th Street S., Arlington, VA 22206 — $485,000
- 4208 4th Street S., Arlington, VA 22204 — $765,000
- 2028 N. Kenmore Street, Arlington, VA 22207 — $775,000
- 4445 20th Road N., Arlington, VA 22207 — $799,999
- 6282 15th Road N., Arlington, VA 22205 — $888,000
- 3118 9th Road N., Arlington, VA 22201 — $985,000
- 1708 N. Stafford Street, Arlington, VA 22207 — $1,165,000
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The cement spheres of “Dark Star Park” in Rosslyn, the electric blue ribbon of “Dressed Up and Pinned” in Courthouse and the twin striped monoliths of “Echo” in the park…
(Updated 2:15 p.m.) Hundreds of students walked out of their classrooms this morning to take a stand against sexual assault and harassment in Arlington Public Schools. Walkouts were held from…
Included in this week’s Open Houses is a 5 BD/3 BA home with a finished dormer level, partially finished basement and hardwood floors.