Join Club

Just Listed in Arlington

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 takes a while for trends to become apparent in many things, and real estate is no exception. Now that we have been experiencing the impacts of COVID-19 for over a month, I’m able to start drawing some conclusions.

I’m closely watching a realtor favorite, sale price to list price ratio (SP%/LP%). For sales closed in Arlington over the last 30 days, that ratio is 101.59% meaning, on average, sellers pocketed nearly $12,000 more than they were asking (average sales price $748,421).

If we drop to 15 days of properties sold, that average goes up to 102.24% and will encompass more, but not all properties that went under contract post-COVID-19 restrictions/impact. Conclusion — by and large sellers are still getting what they want in the housing market and buyers are still having to pay up!

Many Arlington homes are still getting multiple offers, but we are seeing fewer offers in these scenarios. Homes that might have attracted 8-12 offers last spring, or even in early January or February, are mostly only getting 2-3 offers right now, and it’s still happening in the first few days of public marketing.

Of course, this does not represent all properties. Some homes don’t receive multiple offers or sell in the first week. Some take multiple price reductions in order to find the market — they were on the market, but not really in the market. This is leading to some head scratching from sellers and maybe realtors alike. Your absolute best bet, sellers, is to hire an experienced Arlington expert and follow guidance on proper pricing and presentation. These are always important considerations and even more so now as the dynamics of our market begin to shift substantially.

There are currently 239 homes for sale in Arlington (a bit over 1.25 months’ supply at current demand). 127 are detached homes, 26 are townhouses/semi-detached, and 86 are condos. Average days on market (DOM) is 55 and median DOM is 31. These stayed almost constant from last week.

Sellers listed some 60 properties for sale this week, up from 44 last week! Buyers ratified 45 contracts, 25 of which were homes that had been on the market one week or less. Average DOM of the ratified properties this week is 13, median is 11, furthering my point about being left on the market instead of in it.

The median list price of available properties is $­­­1,022,500, while the average is $1,154,701.

Last year for the same week, sellers listed 84 homes and buyers ratified 64 contracts. Though the volume is down right now, the absorption rate of new properties is remarkably similar. The supply/demand characteristics are very similar — sellers, make no mistake, this is still very much a seller’s market!

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.

Recent Stories

With the Alexandria NHL and NBA arena deal now dead, and MLB opening day today, it’s a good time to reflect on the fact that Arlington could have been the home…

Morning Notes

Alexandria Arena Nixed — “The City of Alexandria just announced that the city is ending negotiations related to the Potomac Yard Entertainment District and ‘the proposal will not move forward.’”…

Good Wednesday evening, Arlington. Let’s take a look back at today’s stories and a look forward to tomorrow’s event calendar. 🕗 News recap The following articles were published earlier today…

Arlington is receiving nearly $300,000 in federal funds to help clean up the Chesapeake Bay. The money is part of a much larger $206 million federal grant given to the National…

Award-winning drag queen Tara Hoot is bringing her Family Fun Story Time Brunch to Arlington at Freddie’s Beach Bar! Saturday April 6 at noon! Join Tara for songs, stories, puppets, bubbles and joy! It’s not just stories, it’s a SHOW that’s perfect for kids and kids at heart–fun for everyone! Plus a tasty brunch at Freddie’s! Click the link and make your reservations now! ❤️ 🫧 🌈

Submit your own Announcement here.

The Summer 2024 STEAM (Science/Technology/Engineering/Arts/Math) Fellowship application is now open! Apply by April 15 to be considered!

The STEAM Workforce Development Teacher Fellowship provides Arlington Public Schools (APS) high school, middle school, and elementary school teachers with opportunities to learn about workplace needs in STEAM-related fields and for them to use the experience to enhance student learning to match workplace expectations in a selected industry. STEAM Fellows participate in a three-week summer fellowship, receiving a $4,000 stipend upon completion.

Applicants planning to pursue a fellowship in the arts must demonstrate how they will build connections between the arts and science, technology, engineering, or mathematics.

Click the button to learn more, share, apply, and see the variety of fellowships completed in previous years.

Read More

Submit your own Announcement here.

ACFCU’s Homebuying 101: Steps to Getting Pre-Approved

Are you ready to jump into homeownership, or have you started considering it but don’t know where to start?

Financial preparation is key when thinking about purchasing your first home and the first step to getting pre-approved. Join ACFCU for

Free Right-Sizing Workshop – How to Get Rid of Your…

Cody Chance and Dick Nathan of Long & Foster are hosting a free workshop at our office on Cherry Hill Rd. (formerly Lee Highway) on the topic of “down-sizing” Thursday, March 28 from 5:30-7:30. We have created a workbook with

×

Subscribe to our mailing list