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
A 4 BD/3.5 B home with floor-to-ceiling windows and stone accent fireplace is included in Just Reduced.
Good Tuesday evening, Arlington. Let’s take a look back at today’s stories and a look forward to tomorrow’s event calendar. 🕗 News recap The following articles were published earlier today…
New Addison Heights Home by National Landing Attractions!
A 19-year-old man and a teen boy are facing charges after two girls overdosed at Wakefield High School last week. Police and medics responded to the school just before 11:45…
The Arlington Sports Hall of Fame is extremely pleased to announce that our 2023 Annual Induction Dinner, again in partnership with the Better Sports Club of Arlington, will be held on Wednesday, Oct. 11, at the Knights of Columbus, located at 5115 Little Falls Road, Arlington, Va.
Our dinner will pay tribute to all the honored members of the Hall of Fame and will induct the following six new Class of 2023 inductees, joining the 62 athletes, coaches and contributors who have been inducted into ASHOF since its founding in 1958:
Noel Deskins (Yorktown Class of ’79): Track & Field record-holder & Athlete of the Year at YHS and JMU
Eric Metcalf (O’Connell Class of ’85): Star NFL running back, football and track & field record-holder and Hall of Famer at both O’Connell and the University of Texas
Opening night in Ballston, thanks to a partnership with Marymount University will feature renowned soprano Sharon Christman singing songs of Franz Schubert, Leonard Bernstein, Fanny Mendelssohn, Richard Strauss and some thrilling instrumental music.
But that’s not all! Get ready to