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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.”

Our real estate market in Arlington has slid backward this week with only 41 ratified contracts and a meager 43 new listings. Last year at this time, we had 63 ratified contracts and 50 new listings.

Can anyone remember what else happened this week a year ago? Amazon announced it was moving its HQ2 to Arlington, and the town was abuzz with the news and wild speculation on its impact on our housing market.

The lack of inventory continues to plague our market. A year ago, we had 476 active listings of homes for sale, resulting in 1.9 months of inventory. This week we have only 236 homes actively for sale, and at our current rate of absorption we now have just 1.4 months of inventory. Compare that to the current national inventory rate of 4.3 months. So Arlington home buyers are super challenged.

There’s finally a glimmer of good news on the national front. Housing starts have increased for both single family and multi-family homes. So we’ll see more inventory coming into the market. Single family starts are up 3.8% over last year, and multi-family starts are up 8.6%. This is the highest level of housing starts in 12 years. It’s about time.

When a buyer can’t find a home to purchase, their alternative is to rent. And so the rental market both here in Arlington and nationally is hot hot hot, if you’re a landlord; and horrible horrible horrible if you’re a tenant. Rental inventory is also down by about 1 percent, and rent rates are up about 3.8% for lower end homes. With the rental market so hot, it attracts more investors who in turn compete with end-user buyers for the available inventory putting an ever greater burden on buyers to compete.

Meanwhile, mortgage rates held steady this week with the 30-yr fixed rate at 3.75%-3.85%…

Best wishes to all for a wonderful Thanksgiving holiday next week. Let your family and friends know how much you love them.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

Recent Stories

Morning Notes

Planning for New DCA Projects — “It passed below the radar screens of the traveling public, but the Metropolitan Washington Airports Authority on March 20 moved a major step forward…

Good Thursday evening, Arlington. Let’s take a look back at today’s stories and a look forward to tomorrow’s event calendar. 🕗 News recap The following articles were published earlier today…

Last year, an attempt to broaden the Arlington police auditor’s access to police records quietly fizzled before reaching the public for discussion.

George Mason University’s new Fuse at Mason Square in Arlington, is poised to become a 345,000-square-foot collaborative and digital innovation space in the heart of the Rosslyn-Ballston Corridor. “As Mason expands in…

Award-winning drag queen Tara Hoot is bringing her Family Fun Story Time Brunch to Arlington at Freddie’s Beach Bar! Saturday April 6 at noon! Join Tara for songs, stories, puppets, bubbles and joy! It’s not just stories, it’s a SHOW that’s perfect for kids and kids at heart–fun for everyone! Plus a tasty brunch at Freddie’s! Click the link and make your reservations now! ❤️ 🫧 🌈

Submit your own Announcement here.

The Summer 2024 STEAM (Science/Technology/Engineering/Arts/Math) Fellowship application is now open! Apply by April 15 to be considered!

The STEAM Workforce Development Teacher Fellowship provides Arlington Public Schools (APS) high school, middle school, and elementary school teachers with opportunities to learn about workplace needs in STEAM-related fields and for them to use the experience to enhance student learning to match workplace expectations in a selected industry. STEAM Fellows participate in a three-week summer fellowship, receiving a $4,000 stipend upon completion.

Applicants planning to pursue a fellowship in the arts must demonstrate how they will build connections between the arts and science, technology, engineering, or mathematics.

Click the button to learn more, share, apply, and see the variety of fellowships completed in previous years.

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Submit your own Announcement here.

Free Right-Sizing Workshop – How to Get Rid of Your…

Cody Chance and Dick Nathan of Long & Foster are hosting a free workshop at our office on Cherry Hill Rd. (formerly Lee Highway) on the topic of “down-sizing” Thursday, March 28 from 5:30-7:30. We have created a workbook with

Portofino Italian Wine Dinner, April 6, 6:30pm

Four course Italian dinner, paired with 2 wines each. The wines will be served “blind” and notes on each wine will be discussed. The event is coordinated with Elite Wine Importers and The Portofino Restaurant. The dinner is on Saturday,

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