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.
Good morning Arlington! I hope you had a fantastic Fourth of July weekend. Perhaps you heard many more ‘private’ fireworks this year than in years past just as I did. We thoroughly enjoyed the flyovers — what a treat!
As anticipated, it was a slow week for Arlington real estate — one of just a few weeks each year where we can expect volume to decrease significantly — this year it was down about 50% from the week prior.
Sellers listed some 79 properties for sale this week while buyers ratified just 47 contracts, 20 of which were on properties listed since just last week. This leads to a bit of extra inventory this week, but rest assured, buyers will do their part this week and we’ll see new contracts up a good bit next week. We may also see more price reductions than usual as a result of days on market creeping up a bit in the short term.
That could spell opportunity for some on the buy side — my recommendation: Try to scoop it up before the price reduction; reductions can result in a renewed interest and even spark bidding wars on a not-so-new property. If you see a property that’s been on the market for 14-21 days, there’s a good chance it’s due for a price reduction to stay relevant, especially if sellers keep adding 70+ listings per week.
There are currently 309 homes for sale in Arlington, 30 more than last week. 136 are detached homes, 24 are townhouses/semi-detached and 149 are condos. Average days on market (DOM) is 49 and median DOM is 28.
The median list price of currently available properties is $899,900, while the average is $1,078,621. This is now the third week in a row that median price has stayed below $1M! Median price keeps moving lower as the homes priced below $1M continue to sell at a much brisker pace than those priced above.
Last year for the same week, sellers listed 34 homes and buyers ratified 38 contracts — historically a slow week for real estate. This year though, we had twice the amount of new inventory come online.
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.
- 1905 N. Rhodes Street #37, Arlington, VA 22201 — $432,000
- 1001 N. Vermont Street #414, Arlington, VA 22201 — $489,900
- 3100 S. Grove Street, Arlington, VA 22202 — $565,000
- 1701 16th Street N. #356, Arlington, VA 22209 — $950,000
- 3024 N. Oakland Street, Arlington, VA 22207 — $1,350,000
- 1111 19th Street N. #2606, Arlington, VA 22209 — $1,695,000
- 2271 N. Upton Street, Arlington, VA 22207 — $1,725,000
- 4775 N. Williamsburg Boulevard, Arlington, VA 22207 — $1,795,000