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.”
You know it’s holiday shopping season when there’s total gridlock on the roads within five miles of any shopping center.
Us consumers are doing our part to keep the economy humming along. Buying and selling homes is not typically a priority for most people this time of year. But homes must be on their shopping list.
Buyers ratified an amazing 44 contracts this week, and sellers listed 33 homes. Those are good numbers this close to the holidays.
Not to put any pressure on you buyers out there, but the spring real estate market starts the second week of January. Check the calendar. That’s only three weeks away. That means you have a window of opportunity of just three weeks to find the right home, negotiate relatively aggressively and ratify a contract. In three weeks, buyers will be out in volume with limited inventory and the battles will begin. So quickly finish your holiday shopping and find the right house.
Realtor.com just issued its housing market forecast for 2020, and it’s mostly not good. Here are some key projections:
- A relatively stagnant market with 1.8% fewer sales of existing home
- A national median price increase of only 0.8%
- 25 of 100 top US cities will experience a drop in average home prices
- Weakened buyer affordability, and even lower inventory levels than today
- Millennials will account for over 50% of home purchases for the first time ever
- Gen Xers will follow with 38% of purchases, trailed by Boomers at 17%
- About the only good news is mortgage rates will remain steady peaking at 3.85%
Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.
- 4401 N. Lee Highway Unit 49, Arlington, VA 22207 — $225,000
- 2813 2nd Street S., Arlington, VA 22204 — $869,900
- 5724 4th Street N., Arlington, VA 22205 — $898,500
- 5702 7th Street N., Arlington, VA 22205 — $1,275,000
- 314 N. Barton Street, Arlington, VA 22201 — $1,399,000
- 6593 N. Williamsburg, Arlington, VA 22213 — $1,699,900
- 5821 25th Road N., Arlington, VA 22207 — $1,795,000
- 5105 26th Road N., Arlington, VA 22207 — $1,895,000