Each week, “Just Reduced” spotlights properties in Arlington County whose price have been cut over the previous week. The market summary is crafted by Arlington Realty, Inc. Maximize your real estate investment with the team by visiting www.arlingtonrealtyinc.com or calling 703-836-6000 today!
Please note: While Arlington Realty, Inc. provides this information for the community, it may not be the listing company of these homes.
Let’s bust out the crystal ball and predict what’s going to happen in 2020.
Will the Caps win the Stanley Cup again? Will there be world peace? We shall see.
On the housing front, Realtor.com recently released its National Housing Forecast 2020 and it’s full of some interesting predictions. Among them, the group anticipates the following nationally:
- Mortgage rates to creep up .03% by the end of the year to 3.88%
- Existing home median sales price appreciation to rise .08%
- Existing home sales to fall 1.8%
- Single-family home housing starts to jump 6%
- The homeownership rate to hit 64.6%
So, this translates to price growths flattening and inventory remaining tight.
Locally, in the D.C.-Arlington-Alexandria metro area, Realtor.com is anticipating a 1.5% decline in the number of sales and a 2.6% jump in price.
These stats certainly reflect the trend here in our market of limited inventory yet increasing prices, anchored by a strong job market, competitive wages and forthcoming projects, like Amazon’s HQ2.
Bottom line: It’s shaping up to be another interesting year in Arlington County and surrounding areas. And, when you’re ready to navigate the local real estate market and get the most bang for your buck, on either side of a transaction, the time-tested team at Arlington Realty Inc is ready to roll on your behalf.
As of January 6, there are 100 detached homes, 11 townhouses and 54 condos for sale throughout Arlington County. In total, 3 homes experienced a price reduction in the past week:
-
3116 N. Nelson Street, 22207 — NOW: $2,399,000 (Reduced: $50,000 on 1/1)
-
4322 N. Old Glebe Road, 22207 — NOW: $920,000 (Reduced: $55,000 on 1/2)
-
1303 S. Walter Reed Drive #3102, 22204 — NOW: $330,000 (Reduced: $10,000 on 12/30)
Please note that this is solely a selection of Just Reduced properties available in Arlington County. For a complete list of properties within your target budget and specifications, contact Arlington Realty, Inc.