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’s hard to know what motivated buyers more this week, the wonderful warmer weather or the awesome news about mortgage rates.
Either way, buyers were out in force ratifying 61 contracts on all kinds of homes in all price ranges. Of the homes that sold, some 23 were gone in less than a week indicating we still have high demand and low inventory.
Only 57 sellers listed their homes this week. Frankly I would have expected many more fresh listings in this peak spring market. Currently, Arlington has only one month of inventory. Nationally, the average is 3.5 months of inventory.
Also, this week’s average sales price of those homes that sold jumped to an astonishing $842,601. Typically, through the fall of last year the average sales price hovered around $645,000.
Buyers got great news this week as mortgage rates dropped to 4%-4.125% for a 30-yr fixed rate. That’s the lowest rate since fall of 2017. Investors, nervous about the global economic slowdown, moved their capital into safe 10-yr U.S. Treasury bonds which drove down the yield. Long-term mortgage rates are influenced by 10-yr T bonds.
There were first reports this week of a slowdown in some real estate markets across the U.S. Suddenly bidding wars disappeared. Arlington’s market is still on fire, however, and buyers are competing over the best selections from new inventory.
Buyers want homes in updated condition and locations that fit their lifestyle meaning close to public transportation, their job, shopping or children’s schools.
Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.
- 1200 N. Hartford Street #104, Arlington, VA 22201 — $439,900
- 5572 N. Lee Highway #C-52, Arlington, VA 22207 — $440,000
- 2400 N. Clarendon Boulevard #Ph13, Arlington, VA 22201 — $584,500
- 3800 N. Fairfax Drive #311, Arlington, VA 22203 — $629,900
- 4017 22nd Street N., Arlington, VA 22207 — $639,000
- 811 N. Daniel Street, Arlington, VA 22201 — $897,000
- 3843 30th Street N., Arlington, VA 22207 — $995,000
- 2923 24th Road N., Arlington, VA 22207 — $1,799,000
Just Reduced features a 8 BD/ 5.5 BA home with a guest house, wrap around front porch and private deck.
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The 44th Leeway Overlee Community Day and Yard Sale will be along the John Marshall Drive/Ohio Street greenway on Saturday, June 3 from 9 a.m. until 1 p.m. The community will be out in force to exchange information and greetings, sell unneeded household items, and pick up a few bargains.
About 100 families set up tables for the festivities, which take place along the six-block stretch of the greenway from near Langston Blvd. to Washington Blvd. Attendance is free, but a $10 fee will be collected from individuals and families selling household items during the event. Ensure that all goods and rubbish are removed from the greenway by 1 p.m. Leave dogs at home.
For more info, call 703-532-6101. If planning to sell, start labeling your items for sale NOW! Event will take place as long as there is not active rain. Rain date is June 10.
36TH FESTIVAL ARGENTINO
ARLINGTON JUNE 3RD, 2023
Sat, June 3rd I 3:30 pm / Shows 5:50 pm I Kenmore Auditorium I Glencarlyn
The 36th Festival Argentino USA celebrates Argentine Day and Cultural Freedom. The folkloric group Los 4 de Córdoba and 25 more artists from Argentina, World, and Solidarity Tribute, 200 years of friendship between USA and Argentina!.
Homebuying 101: Steps to Getting Pre-Approved
Are you ready to jump into homeownership or started considering it but don’t know where to start? Financial preparation is key when thinking about purchasing your first home and the first step to getting pre-approved.
Join ACFCU’s mortgage loan officers
4th of July Celebration & Fireworks
Treat yourself this Independence Day with a world-class, private 4th of July extravaganza at the Military Women’s Memorial – a premier National Capital Region site.
Great food, fun, and the best views of Washington DC’s spectacular fireworks display. Relax, enjoy,