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.”
With the Holidays just around the corner, Arlington’s real estate market remains healthy and stable while any potential craziness is held in check by low inventory. Demand remains strong, as this week testifies, but there’s just not enough homes for sale to satisfy the eager buyers.
This week only 22 homes were listed for sale, while buyers ratified 33 contracts. Many of those homes that sold would be considered stale inventory as they had been on the market 2-3 months. Without enough fresh inventory, buyers are turning to homes still for sale after 60 days or more. And that’s great for everybody. The average days on market is now up to 31, and there are currently only 166 homes available for sale.
The National Association of Realtors reported this week that inventory is down 5.7% nationally over last year while the median home price has increased 5.6%. NAR’s economists project that next year home values will go up only 3.6% and there is a low likelihood of any recession. They expect economic growth of just 2%.
They would like to see a surge of home builder activity that would both stimulate the economy while delivering more inventory to help keep down the increase in home prices and the increase in rental rates which is the untold victim of low inventory. They expect rent rates to increase 3.5% next year.
Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.
- 2965 S. Columbus Street #C1, Arlington, VA 22206 — $295,000
- 1301 N. Ode Street #110, Arlington, VA 22209 — $299,900
- 1931 N. Cleveland Street #412, Arlington, VA 22201 — $367,000
- 1024 N. Utah Street #122, Arlington, VA 22201 — $549,900
- 1200 N. Hartford Street #507, Arlington, VA 22201 — $630,000
- 3600 S. Glebe Road #223W, Arlington, VA 22202 — $649,900
- 908 18th Street S., Arlington, VA 22202 — $874,975
- 828 S. Buchanan Street, Arlington, VA 22204 — $885,000