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.
Another week of ramped up activity in Arlington!
Sellers are listing homes at a faster pace than buyers can ratify contracts despite strong showings, fantastic interest rates and beautiful weather. Buyers are still doing their part, with pending sales increasing for the past three weeks.
We’ve been hearing questions and concerns about local protests and how that may be impacting Arlington’s real estate market. We haven’t seen any direct impact on housing thus far but are closely watching current events as always.
Buyers — I encourage you to take a second look at properties that have been sitting on the market a little longer. Some of these are likely contemplating a price reduction and getting to them before that happens can spell huge opportunity. We’ve heard plenty of talk about how frequently price escalations occur — but they almost exclusively occur on newly listed homes, rarely on properties on the market for 2-3 weeks or longer.
There are currently 278 homes for sale in Arlington (256 last week). 137 are detached homes, 26 are townhouses/semi-detached, and 115 are condos.
Average days on market (DOM) is 41 and median DOM is 30. Average DOM dropped 19 days! This was helped by a number of properties going under contract that were listed many months ago as well as others being taken off market.
Sellers listed some 81 properties for sale this week. Buyers ratified 58 contracts, 30 of which were homes that had been on the market one week or less. Average DOM for ratified contracts this week was 16, and median 6!
The median list price of available properties is $1,087,000, while the average is $1,184,691. Last year for the same week, sellers listed 91 homes and buyers ratified 78 contracts. This was a huge drop last year from the previous week, and now we have the first time in many months that our 2020 activity is stronger than the 2019 data.
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.
- 1200 S. Arlington Ridge Road #502, Arlington, VA 22202 — $315,000
- 519 S. Courthouse Road, Arlington, VA 22204 — $515,000
- 1512 S. Columbus Street, Arlington, VA 22204 — $665,000
- 223 N. Greenbrier Street, Arlington, VA 22203 — $799,000
- 2405 N. Lincoln Street, Arlington, VA 22207 – $1,050,000
- 4100 N. Richmond Street, Arlington, VA 22207 — $1,250,000
- 3114 N. Pershing Drive, Arlington, VA 22201 — $1,499,000