Just Listed in Arlington

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 real estate market picked up some steam this week after a sluggish start to the fall season.

Sellers listed 69 homes and buyers ratified 61 contracts. These numbers are more in line with previous robust fall numbers. While the U.S. continues its historic economic expansion into the 11th year, there were signs this week of concern. Job growth has slowed, although unemployment remains at a near historic low of just 3.7%. And the consumer confidence index dropped this week.

Economists have cited consumer spending as the main pillar supporting continued economic growth. Well, consumer confidence, as measured by the non-profit Conference Board since 1985 (index started at 100), dropped from 134.2 in August to 125.1 in September. Economists expected a drop, but not that much.

Mortgage rates meanwhile improved early this week and have held at 3.75% for a 30-yr fixed rate.

The improved rate of ratified contracts this week didn’t help our inventory level. The supply of active homes for sale (271) dropped from 1.3 months to 1.1 months based on the current rate of absorption. It’s still a tough market for home buyers.

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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