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.”
What an incredible week for Arlington’s real estate market.
Both buyers and sellers set new records for the year with buyers ratifying 82 contracts and sellers listing 86 homes. Half of the homes that sold this week (41) were on the market only seven days or less. And 17 of those sales were homes priced above $1 million.
The average days on market for those sold homes is just 18. At the current rate of sales, and with only 268 homes actively available on the market, Arlington has only 0.8 months of inventory. This is the lowest level of inventory I can remember since the crazy days of 2001-2005.
This helps to explain two growing trends in our national housing market. Seniors are increasingly choosing to age in place and spend their savings on renovating and modifying their homes for one-level living. Part of that decision is because they can’t find a suitable and affordable replacement home. And part is because they already have their support network where they live.
The other trend is that millennials are moving in large numbers to smaller cities where unemployment is low and housing prices are more affordable. They are moving into places like Madison, Oklahoma City, Durham and Grand Rapids.
Mortgage rates have closed out the week with essentially no change, even though Wall Street has the jitters because of new talk about trade wars with China and the damage it could do to the U.S. economy. Rates ended the week at 4.25% for a 30-yr fixed rate.
Click 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 #T-303, Arlington, VA 22201 — $399,000
- 3127 S. Stafford Street, Arlington, VA 22206 — $494,500
- 704 N. Jefferson Street, Arlington, VA 22205 — $699,900
- 721 S. Veitch Street, Arlington, VA 22204 — $749,500
- 918 26th Place S., Arlington, VA 22202 — $835,000
- 2375 N. Edgewood Street, Arlington, VA 22207 — $1,098,000
- 1125 N. Harrison Street, Arlington, VA 22205 — $1,325,000
- 801 N. Jackson Street, Arlington, VA 22201 — $1,695,000
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Camps are just the beginning of what’s in store at Art House 7 this summer. We’re thrilled to offer an array of exciting classes for both kids and adults!Rediscover your creativity with some of our AH7 favorites, such as drawing, hand-sewing, modern embroidery, and our popular 3-week Jump into Crochet classes. But that’s not all! We’ve added some fresh and exciting options to our summer class selection, guaranteed to spark your imagination.
To enhance your artistic journey, we have intensified some of our Ceramics: The Wheel classes to a full 3-hour duration. This extended time allows for more creativity and skill development in each class session. If you’re eager for a captivating twist, give Contemporary Still-Life Drawing & Painting a go. Or why not try an immersive outdoor painting adventure? We have a unique opportunity for you to bring your painting skills to life while learning and creating in the great outdoors with our Landscape Painting: Studio and Plein Air class!
We invite you to visit our website and explore our full Summer Session schedule, brimming with a diverse range of classes and camps. Classes and camps begin June 20th. Unleash your inner artist, broaden your horizons, and embark on a summer adventure like no other. Let’s make this a summer to remember at Art House 7!
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