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.”
Right on cue, the inventory floodgates opened this week.
It must be mid-March. That’s when traditional wisdom says it’s time to list your home, the spring market is here, and the buyers are out shopping.
This week sellers listed 70 homes giving buyers the most amount of choices so far this year. And buyers stepped up and ratified 57 contracts, some 19 of those were on homes that were listed for seven days or less. Arlington currently has only 239 homes actively for sale.
At this pace of absorption, that is only one month of inventory meaning if no more homes came on the market, all homes would be sold in one month. It’s also known as an extreme sellers’ market.
Here’s the craziest story heard this week: a $185,000 townhouse in Lorton listed “As Is” attracted 55 offers! It was on the market for five days.
This kind of market attracts every kind of buyer, and we are especially seeing more investors and flippers than usual. They are attracted to homes in need of much work and TLC, the kind of homes that scare away first-time home buyers and are too much work for end users who want fully updated conditions, even in vintage 1920’s-30’s homes. Whatever kind of buyer you may be, prepare for battle. The competition is brutal.
Mortgage rates continued to be kind to buyers this week with no major changes. The 30-yr fixed rate remains at 4.375%-4.5%. Helping to drive buyer activity is available credit. Lenders are flush with cash. So, there is a wide variety of liberal loan programs for all types of buyers enabling much lower down payments than we’ve seen in over 10 years.
Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.
- 5059 9th Street S., Arlington, VA 22204 — $459,900
- 3362 S. Wakefield Street #A, Arlington, VA 22206 — $499,000
- 5611 7th Street N., Arlington, VA 22205 — $625,000
- 518 N. Nelson Street, Arlington, VA 22203 — $799,900
- 4510 8th Street S., Arlington, VA 22204 — $980,000
- 4423 19th Road N., Arlington, VA 22207 — $999,500
- 816 N. Kenmore Street, Arlington, VA 22201 — $1,139,900
- 6204 26th Road N., Arlington, VA 22207 — $1,487,900
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…
Join Arlington County Initiative to Rethink Energy (AIRE) and a group of electric vehicle (EV) experts as they explain how to install home chargers, discuss commercial charging infrastructure, project the…
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