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.
Buyers, here’s the good news — mortgage rates have never been better!
The 30-year fixed has hit a new low, again breaking the record low that’s been established and reestablished numerous times over the past few months. Existing homeowners — you may be able to refinance with a 15-year mortgage close to 2.5% so this can probably save you serious money and you get to stay put!
As Northern Virginia begins to reopen, we’re seeing more and more in-person open houses scheduled, and expecting traffic to be way up in the coming weeks. The market only cooled slightly the past couple months in terms of volume — expect it to heat up faster than it cooled in coming weeks.
Some not-so-good news if you are a buyer — prices have remained remarkably steady!
Abundant speculation that prices would drop as a result of the pandemic has not rung true. There has indeed been an increase in instances of contracts falling through (previously a very rare occurrence in Arlington) and they were very largely due to financing issues. The housing market will always be a supply/demand equation and the years of pent-up demand in Arlington didn’t evaporate over the past couple months, despite global uncertainty.
Take a look below at some statistics for Arlington real estate — with this week’s slower numbers, we’ve crept up to 1.55 months of available inventory.
There are currently 267 homes for sale in Arlington. 143 are detached homes, 27 are townhouses/semi-detached, and 97 are condos. Average days on market (DOM) is 60 and median DOM is 34.
Sellers listed some 55 properties for sale this week. Buyers ratified 43 contracts, 23 of which were homes that had been on the market one week or less. The median list price of available properties is $1,155,000, while the average is $1,193,112.
Last year for the same week, sellers listed 81 homes and buyers ratified 71 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.
- 2818 S. Abingdon Street #C2, Arlington, VA 22206 — $425,000
- 1040 S. Edison Street, Arlington, VA 22204 — $549,900
- 2001 15th Street N. #812, Arlington, VA 22201 — $600,000
- 2257 N. Harrison Street, Arlington, VA 22205 — $999,990
- 1210 S. Walter Reed Drive, Arlington, VA 22204 — $1,199,000
- 2118 N. Cameron Street, Arlington, VA 22207 — $1,259,000
- 3207 N. John Marshall Drive, Arlington, VA 22207 — $1,300,000
- 5526 18th Street N., Arlington, VA 22205 — $1,349,000