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.
Despite the gorgeous, warm weather, things have cooled off a bit this spring in the housing market.
This spring in Arlington is a bit more subdued than last year and years prior — no surprise considering a stay at home order. By no means, however, has the Arlington market to come to a halt. You may have heard showings are down — this is true.
That means buyers look at fewer homes before they actually buy, and that casual “lookie-loos” have probably stopped for the time being. You may also see real estate signs in yards for longer — another product of fewer showings and fewer ratified contracts.
As things cool off, just a bit, inventory is starting to creep upward. With this week’s numbers, we now have 1.57 months of inventory — about double from the lows of early February but still way below the national average. Not to worry sellers, that number would need to quadruple before the market was considered to be in equilibrium — something Arlington hasn’t seen in over a decade.
A lot of conversations are centered on the thought that prices in Arlington will go down. I do not believe this to be likely at all. Sellers are holding off on listing their homes and this will actually keep prices steady — supply would need to increase substantially in order to be in line with, or even outpace, demand.
If that happens, then one could reasonably expect prices to be either holding steady or declining slightly. Unlike the stock market, this does not happen overnight, or even in the period of a few weeks — it’s a gradual trend over the course of months and even years.
There are currently 239 homes for sale in Arlington (204 last week). 128 are detached homes, 26 are townhouses/semi-detached and 76 are condos. Average days on market (DOM) is 51, though median DOM (a much more reliable measure for this data set) is only 23.
Sellers listed some 60 properties for sale this week, one more than last week. Buyers ratified 38 contracts, 25 of which were homes that had been on the market one week or less. Activity this week is down on both the supply and demand sides of the equation.
The median list price of available properties is $1,009,998, while the average is $1,153,264. Last year for the same week, sellers listed 75 homes and buyers ratified 54 contracts.
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. Below are eight homes that are new this week that I think you might like to check out.
- 1300 S. Arlington Ridge Road #418, Arlington, VA 22202 — $280,000
- 4648-C 28th Road S., Arlington, VA 22206 — $410,000
- 1530 N. Key Boulevard #929, Arlington, VA 22209 — $430,000
- 2100 N. Tazewell Court, Arlington, VA 22207 — $788,000
- 5944 10th Road N., Arlington, VA 22205 — $799,900
- 1300 S. Crystal Drive #1706, Arlington, VA 22202 — $949,500
- 1130 N. Utah Street, Arlington, VA 22201 — $968,500
- 4714 17th Street N., Arlington, VA 22207 — $1,039,000
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Arlington and its neighbors have become more segregated in the last 10 years while fair housing legislation at the state level faces significant roadblocks. Arlington’s fair housing enforcement, education, and commitment to equity practices in housing policy and programs are beginning to show signs of improvement but much more needs to be done.
Join the NAACP Arlington Branch, HOME of Virginia, and Equal Rights Center for the 2nd Annual Arlington Fair Housing Conference on April 15th to discuss the threats and opportunities to advancing fair housing policy across the state and within Arlington.
The half-day, in-person event will feature speakers from fair housing advocacy organizations and government agencies including the U.S. Department of Housing and Urban Development, and focus on fair housing policy trends in Virginia and Arlington County. The conference aims to advance the understanding of issues and policies related to equity and affirmatively further fair housing among local officials, advocates, and members of the public.
2nd Annual Arlington Fair Housing Conference
Is home ownership a goal of yours in 2023? Now is the time to make it happen! Grab a (virtual) drink with the area’s top Real Estate experts, learn all about the home buying process and on how you can get $1,500 towards your closing costs immediately!
Did you know the average Arlington renter will spend $150K in 5 years of renting? Stop paying down someone else’s mortgage! Join us for a Rent vs. Buy Happy Hour on Wednesday, April 5th at 6 p.m. via Zoom. If this time doesn’t work, we also are offering times convenient for your schedule!
A lot has happened in the local market since the beginning of the pandemic. Sip on your drink of choice and learn from Northern Virginia, Arlington and Washingtonian Magazines top producing agents! We will discuss the latest market updates, the home buying process and rent vs. buy cost savings. Please RSVP by clicking here.
Call/text Manavi at 703-869-6698 with any questions!
Private School Fair
Congressional School to Host MONA Private School Fair Thursday, April 27 at 6:30 PM
Congressional School in Falls Church, VA is delighted to host the MONA (Mothers of North Arlington) at an upcoming Private School Fair. Private schools from around
WHS Spring Festival
Join us at the WHS Spring Festival on April 22, 2023, from 10am- 3pm at Wakefield High School(main parking lot). Come out to shop, play, and eat!
Shop local vendors, arts & crafts, new and used items, food vendors/trucks, and