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.
Just throw caution to the wind?
Well, over the past 30 days, there have been almost 70 homes in Arlington selling for 2% or more over list price. Crazier still, some of these sold 5%, 10%, 15% and even 18% over list price. 25% of homes sold in Arlington over the past month sold for 2% or more over ask, and the running average is 101% with a median of 100% sale price to list price ratio. Buyers, prepare yourselves to get out of your comfort zone if you’d like to call Arlington home.
I’ve said it about half a dozen times this year, but mortgage rates have hit another all-time low! We’re seeing most new mortgages start with a 2 in Arlington, and more and more buyers are electing to put less money down to further leverage the bank. Nationally, purchase demand is up 25% year over year — it’s going to be a busy fall!
Arlington numbers are up… like way up! We’re looking at over 100% increase for new inventory compared to last year — even though late summer is a historically slow time for new listings.
This past week in Arlington, sellers listed some 92 properties for sale while buyers ratified 55 contracts. 21 of the ratified contracts were on homes listed just within the past week.
There are currently 428 homes for sale in Arlington, 42 more than last week. 116 are detached homes, 32 are townhouses/semi-detached, and 236 are condos. Average days on market (DOM) for currently available homes is 48 and median DOM is 30. Condo inventory makes up for 61% of the available housing inventory in Arlington at present. Condo absorption is only making up about 50% of ratified contracts, explaining the continued increase in availability.
The median list price of currently available properties is $642,000, while the average is $881,281. Last year for the same week, sellers listed 44 homes and buyers ratified 45 contracts.
Click here to search currently available Arlington real estate — if you see a home you’re interested in purchasing, we’d love to help!
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.
- 1020 N. Highland Street #320, Arlington, VA 22201 — $370,000
- 4723 29th Street S., Arlington, VA 22206 — $529,900
- 1045 N. Utah Street #2-310, Arlington, VA 22201 — $614,900
- 5952 1st Street N., Arlington, VA 22203 — $775,000
- 511 N. Thomas Street, Arlington, VA 22203 — $999,990
- 2305 N. Columbus Street, Arlington, VA 22207 — $1,274,000
- 408 N. Lombardy Street, Arlington, VA 22203 — $1,299,000
- 6318 35th Street N., Arlington, VA 22213 — $2,199,000