Arlington, VA

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.

Construction seems to be constant in Arlington, and it has only ramped up during the pandemic. Who would have thought?

Of course, there is constant road work and commercial construction, but I’m talking about residential. The pandemic has fueled tremendous increases in home projects, from small remodels to tear-downs and rebuilds. Just take a look at Home Depot — their stock is higher now than it was mid-March and shows no signs of slowing.

Further, despite their best efforts, Home Depot is out of many appliances, bathroom vanities and other items due to unprecedented demand. Also, lumber is running about triple the usual cost due to high demand and some supply constraints. It may be years before it comes back down.

Homeowners who are electing to stay put and renovate, instead of sell and buy a larger home are one of the many supply constraints we have on available Arlington homes. That statement doesn’t totally apply to condos, and that’s one of the reasons we have so many available. In a condo, you can update a bathroom, but you can’t add a floor, bump out a side addition or expand your master suite. This poses additional issues if you’ve found yourself working next to your spouse at the kitchen table, across from your two home schooling children!

The good news for those of you who already own Arlington real estate is that every time your neighbor makes upgrades, it has a positive impact on the value of your home, even if you don’t lift a finger. Remember though, appreciation isn’t 100% earned, you have to maintain and work for some of it to stay at par with an ever shifting and upgrading class of homes in your area.

This past week in Arlington, sellers listed some 70 properties for sale while buyers ratified 55 contracts. 16 of the ratified contracts were on homes listed just within the past week.

There are currently 541 homes for sale in Arlington, 1 less than last week. 139 are detached homes, 51 are townhouses/semi-detached, and 351 are condos.

Average days on market (DOM) for currently available homes is 50 and median DOM is 33. The median list price of currently available properties is $590,000, while the average is $776,411. Last year for the same week, sellers listed 65 homes and buyers ratified 60 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.

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