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.”

The summertime temps may be in the mid 90’s this week, but the real estate market feels like springtime. With the exception of the Memorial Holiday week, the spring market has just kept rolling along into summer, so far.

Arlington saw another week of big numbers with 77 new listings and 65 ratified contracts. Over half of those homes sold within seven days of hitting the market. That has pushed our inventory levels to new lows again. There are only 247 homes actively for sale in Arlington right now. At the current rate of sales, we have only 0.95 months of inventory. That’s right, less than a month. It’s a tough market for buyers.

The good news is that mortgage rates have held steady at 3.85% for a 30-yr fixed rate with no points. That’s the lowest since November 2016. The low rates have sparked a rush of refinancing. If your current loan is 4.65% or higher, and your loan is less than seven years old, you should consider refinancing. Talk to a local lender or two to discuss how you can lower your monthly mortgage payment at no out of pocket costs.

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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