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.”
Like clockwork, Arlington’s real estate market hit the brakes this week as we entered the first week of the summer.
The market typically slows right after Memorial Day weekend, and this year was no different. Sellers listed 45 homes, while buyers ratified 44 contracts. That’s about a 40% drop in activity from last week.
There’s good news for buyers on two points: the inventory level improved and interest rates dropped. This week, inventory in Arlington increased to 1.4 months compared to just under one month for the last several weeks. The higher the inventory level, the more choices and negotiating power for buyers.
Mortgage interest rates dropped to 4% for a 30-yr fixed rate, and highly qualified buyers with great credit can get a rate in the high 3’s%. That adds considerably to a buyer’s purchasing power. The escalating trade war with China now shows signs of slowing the U.S. economy, and that news has impacted the drops on Wall Street and flow of capital into safe 10-yr U.S. Treasury bonds.
Further tensions with China could slow our economy more, and mortgage rates could see even lower numbers.
Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.
- 1001 N. Randolph Street #911, Arlington, VA 22201 — $525,000
- 2406 N. Washington Boulevard, Arlington, VA 22201 — $599,000
- 5010 25th Road N., Arlington, VA 22207 — $650,000
- 5813 4th Street S., Arlington, VA 22204 — $825,000
- 3222 1st Place N., Arlington, VA 22201 — $979,900
- 255 N. Bryan Street, Arlington, VA 22201 — $995,000
- 1401 N. Nelson Street, Arlington, VA 22201 — $1,439,000
- 1604 N. Cleveland Street, Arlington, VA 22201 — $1,729,000
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