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.”
For a second straight week, buyer activity in Arlington’s fall real estate market has performed more like the summer doldrums.
Buyers ratified only 45 contracts this week, a few less than last week’s ho hum results. Sellers however stepped up and listed 62 homes.
A recent report from Redfin indicates that the bidding wars have significantly dropped nationally in the last year from an average of 41% of sales to just 11% last month. San Francisco leads in the bidding wars, followed by San Diego. A year ago, San Francisco had bidding wars in 73% of transactions, but last month that dropped to 32%. San Diego went from 49% to 21%. And our DMV area went from 41% last year to just 9.3% last month. The robust U.S. housing market may be losing its edge.
Federal Reserve meeting notes were released this week indicating the board may NOT be ready to lower its short term rate later this year as the financial markets have anticipated. The board will take a wait and see approach.
The notes also indicated that the board’s concern for the protracted weakness in business investment, manufacturing and exports may be worse than expected. They cited strong employment numbers and continued consumer spending as propping up the U.S. economy.
Meanwhile, mortgage rates have remained fairly stable at 3.625% for a 30-yr fixed rate.
What can you do to create a bidding war on your home? Two dominant themes prevail on those homes that attracted multiple offers:
- The homes are updated and in pristine condition, like new with nothing left to do
- The homes are priced properly, or maybe even a bit low to attract more 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.
- 1729 N. Queens Lane #1-117, Arlington, VA 22201 — $299,000
- 4079 S. Four Mile Run Drive #302, Arlington, VA 22204 — $418,000
- 381 N. Granada Street, Arlington, VA 22203 — $695,000
- 6306 17th Street N., Arlington, VA 22205 — $799,000
- 1524 N. Abingdon Street, Arlington, VA 22207 — $879,900
- 1210 N. Frederick Street, Arlington, VA 22205 — $1,075,000
- 1311 N. Highland Street, Arlington, VA 22201 — $1,399,900
- 3605 N. Military Road, Arlington, VA 22207 — $1,449,000