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.”
Arlington’s fall real estate market appears to be getting off to a slow start.
It’s not bad. But it’s not great either. It’s just sort of okay, which indicates something may be going on that’s not clear yet.
Sellers listed 71 homes this week, which is good. But buyers seem to be dragging their feet with only 51 ratified contracts. Of those, some 30 homes sold within seven days on the market.
Compared to last year, these numbers are ho hum. In the last three weeks of last September, buyers ratified 55, 65 and 54 contracts each week. And sellers really did their part by listing 96, 95 and 65 homes each week. Numbers tell a story.
Perhaps it has something to do with consumer confidence. The Fed on Wednesday dropped its overnight rate by .25% as a measure to bolster signs of a slowing economy. It cited concerns of a slowing global economy influenced by the US-China trade war and Britain’s exit from the European Union. The Fed wants consumers and businesses to maintain their level of spending while keeping inflation at its current rate of 1.6%
If you read this blog regularly, you may recall us telling you to grab the low mortgage rates to buy or refinance several weeks ago. Hope you followed the advice. Mortgage rates, which are NOT directly linked to the Fed rate, jumped this week with quotes varying from 3.73% to 4.01%. And they’re likely to rise more.
The good news for buyers this week is that the housing inventory level is at its highest in a year at 1.3 months. That gives buyers more to choose from, and strengthens their negotiating power
Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.
- 1020 N. Stafford Street #308, Arlington, VA 22201 — $450,000
- 1020 N. Highland Street #301, Arlington, VA 22201 — $649,900
- 3967 26th Street N., Arlington, VA 22207 — $874,900
- 883 N. Kentucky Street, Arlington, VA 22205 — $879,883
- 5213 8th Road N., Arlington, VA 22205 — $1,050,000
- 1503 N. Colonial Court, Arlington, VA 22209 — $1,350,000
- 5008 15th Street N., Arlington, VA 22205 — $2,375,000
- 3616 N. Upland Street, Arlington, VA 22207 — $2,595,000
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Arlington and its neighbors have become more segregated in the last 10 years while fair housing legislation at the state level faces significant roadblocks. Arlington’s fair housing enforcement, education, and commitment to equity practices in housing policy and programs are beginning to show signs of improvement but much more needs to be done.
Join the NAACP Arlington Branch, HOME of Virginia, and Equal Rights Center for the 2nd Annual Arlington Fair Housing Conference on April 15th to discuss the threats and opportunities to advancing fair housing policy across the state and within Arlington.
The half-day, in-person event will feature speakers from fair housing advocacy organizations and government agencies including the U.S. Department of Housing and Urban Development, and focus on fair housing policy trends in Virginia and Arlington County. The conference aims to advance the understanding of issues and policies related to equity and affirmatively further fair housing among local officials, advocates, and members of the public.
2nd Annual Arlington Fair Housing Conference
Is home ownership a goal of yours in 2023? Now is the time to make it happen! Grab a (virtual) drink with the area’s top Real Estate experts, learn all about the home buying process and on how you can get $1,500 towards your closing costs immediately!
Did you know the average Arlington renter will spend $150K in 5 years of renting? Stop paying down someone else’s mortgage! Join us for a Rent vs. Buy Happy Hour on Wednesday, April 5th at 6 p.m. via Zoom. If this time doesn’t work, we also are offering times convenient for your schedule!
A lot has happened in the local market since the beginning of the pandemic. Sip on your drink of choice and learn from Northern Virginia, Arlington and Washingtonian Magazines top producing agents! We will discuss the latest market updates, the home buying process and rent vs. buy cost savings. Please RSVP by clicking here.
Call/text Manavi at 703-869-6698 with any questions!
Private School Fair
Congressional School to Host MONA Private School Fair Thursday, April 27 at 6:30 PM
Congressional School in Falls Church, VA is delighted to host the MONA (Mothers of North Arlington) at an upcoming Private School Fair. Private schools from around
WHS Spring Festival
Join us at the WHS Spring Festival on April 22, 2023, from 10am- 3pm at Wakefield High School(main parking lot). Come out to shop, play, and eat!
Shop local vendors, arts & crafts, new and used items, food vendors/trucks, and
