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.
Inventory is growing in Arlington…
You may have read that inventory is down in many markets around the country, yet we’re seeing a different trend in Arlington. Could this be the result of an exodus to the farther suburbs? Are fewer people interested in living close-in as a result of COVID-19?
The answer isn’t as simple as yes or no. In fact, buyers are still ratifying contracts at a brisk pace in Arlington, and inventory for single-family options continue to decline week-over-week. Arlington remains in high demand, make no mistake.
But just as single-family properties continue to be highly sought-after in almost all price points, condos do seem to be falling out of favor in the current market. There are 67% more condos available today in Arlington than there were 6 weeks ago.
Inventory available at any given time should be viewed in comparison with how much inventory is being absorbed. Over the past month, we’ve crept up to about 1.5 months of inventory across all property types. But for single-family properties, we have less than half a month available! Historically low mortgage rates, still holding below 3% for a 30-year fixed, continue to fuel buyer urgency and desire to lock in a low payment.
This past week in Arlington, sellers listed some 91 properties for sale while buyers ratified 59 contracts. 32 of the ratified contracts were on homes listed just within the past week!
There are currently 370 homes for sale in Arlington, 19 more than last week. 119 are detached homes, 30 are townhouses/semi-detached, and 221 are condos. Average days on market (DOM) is 48 and median DOM is 30.
The median list price of currently available properties is $750,000, while the average is $944,802. Last year for the same week, sellers listed 43 homes and buyers ratified 57 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.
- 1800 N. Wilson Boulevard #214, Arlington, VA 22201 — $469,500
- 2400 N. Clarendon Boulevard #606, Arlington, VA 22201 — $550,000
- 1643 S. Hayes Street #2, Arlington, VA 22202 — $650,000
- 1050 N. Stuart Street #904, Arlington, VA 22201 — $675,000
- 2410 N. Greenbrier Court, Arlington, VA 22207 — $750,000
- 2001 15th Street N. #1509, Arlington, VA 22201 — $779,000
- 3625 10th Street N. ,Arlington, VA 22201 — $975,000
- 608 N. Vermont Street, Arlington, VA 22203 – $2,150,000
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