Arlington, VA

Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Andors Real Estate Group.

It’s been an interesting week in Arlington real estate.

On one hand, we’ve seen some crazy bidding wars that continue to push home prices higher. On the other hand, a buyer had a contract accepted on a new listing that included a home sale contingency, meaning they need to sell their home before they can complete the purchase. Home sale contingencies are rarely accepted in Arlington as the risk to the seller is generally unnecessary due to such high buyer demand.

A home in North Arlington settled this week for $132,000 over list price — that was 13% above what the sellers were asking for. Buyers were conducting pre-inspections, removing all contingencies and doing everything they could to have their offers be accepted.

Sellers listed some 68 properties for sale this week. 31 of those were under contract within a week, while buyers ratified a total of 53 properties.

Global concerns over coronavirus do not seem to be impacting our local housing marketplace whatsoever. Some U.S. markets like New York City and Los Angeles have seen a slight slowdown in foreign investment, but fears of broader potential economic ripple effects haven’t really shown up. Arlington has so far shrugged it off.

Arlington inventory is creeping up very slightly, something we begin to see each year around this time — there are now 157 active properties for sale vs. 150 last week.

44 of the available properties in Arlington are new builds — only one of which is priced below $1 million!

We’re still hovering at about three quarters of a month of inventory in Arlington, just about as far into seller’s market territory as it gets. This is not going to even out any time soon, folks. If you’re thinking about selling, now is the time!

Mortgage rates have been holding pretty steady for weeks now, still hovering right around 3.5% for a 30-year fixed rate mortgage. For comparison, this week last year the rate was 4.375%.

Click here to search currently available Arlington real estate. Call the  Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate.

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