Arlington, VA

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.”

BooYah!! What an incredible week for Arlington’s real estate market.

Sellers listed 88 homes, and buyers ratified 76 contracts, both records so far this year. Of those homes, more than half (39) sold within just seven days on the market. The average list price of those homes that sold is $768,819 and that includes condos as well as single family homes. The average days on market is now just 19.

And now here is a more astonishing statistic: Arlington has only 0.8 months of inventory. There are only 241 homes actively available for sale, with an absorption rate of 304 home sales per month.

They say a rising tide lifts all ships. It now appears that the high-end market has totally rebounded with robust sales above the $1 million mark. Some 21 homes sold this week priced over $1 million. This should inspire more new home construction in Arlington, but of course that means more tear downs of old functionally obsolete homes.

How many letters a week do you get asking if you’re ready to sell your home? Before you respond, if so inclined, I’d strongly advise that you obtain opinions from a few realtor neighborhood specialists on the value of your home before you sign anything and perhaps leave big money on the table.

Interest rates held steady this week with the 30-yr fixed rate sitting at 4.125%.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

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