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.”
The market remains hot, hot, hot.
Despite this being spring break week for area schools when families typically travel, and despite this weekend being Easter weekend, buyers and sellers were busy. Home owners listed 84 properties this week while buyers ratified 64 contracts with over half (37) of those homes sold within seven days.
Bidding wars have become common for fresh new inventory, especially for homes in pristine condition and priced under $750,000.
For buyers to have a chance, they first need to find a good agent and then follow their advice. Remember, you just need to get ahead of the market once to win. For every home you miss, that home becomes the next comp against your next attempt.
And by the way, all those other unfortunate losers will continue to be your competition on your next offer. So go big once early, and you’ll be further ahead.
Also, both buyers and sellers should not give much credibility to automated estimates of value on some popular websites especially for single family homes in Arlington. Unlike many other communities, Arlington’s homes vary greatly in style, size, degrees of upgrades, etc.
And auto stats on price per square foot are wholly unreliable as well mostly because there is no consistency in our public records on how finished square footage is measured. So you’re comparing apples to watermelons. Condos and townhomes are different. Those auto estimates are a little more reliable, but I wouldn’t take that info to the bank.
Mortgage rates creeped upward this week. The 30-yr fixed rate is now at 4.25%. This week saw the highest number of purchase mortgage applications in nine 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.
- 3910 9th Road S., Arlington, VA 22204 — $420,000
- 2400 N. Clarendon Boulevard Unit 308, Arlington, VA 22201 — $435,000
- 852 S. Irving Street, Arlington, VA 22204 — $470,000
- 503 N. Jefferson Street Arlington, VA 22205 — $689,500
- 815 N. Buchanan Street, Arlington, VA 22205 — $925,000
- 3125 1st Place N., Arlington, VA 22201 — $949,900
- 5619 5th Street N., Arlington, VA 22205 — $950,000
- 200 N. Cleveland Street, Arlington, VA 22201 — $975,000