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.
Helllllooooo, Arlington, and welcome to JUST LISTED!
At this point of the year, with school out and vacations well underway, I expect we’ll settle into a routine of a more modest-paced real estate market. Typically, plenty of real estate is transacted between June and the end of August before heating back up shortly after Labor Day. While things certainly feel like they calmed down earlier this year than in the past, this is now typical behavior for the summer months.
Buyers — perhaps this is your chance! Fewer homes are selling their first weekend, which can be used to your advantage. Make no mistake, prices are not falling, but you may not have to outbid 10 other bidders on your next home. You might also be able to get a home inspection again or waive fewer other contingencies to get the house you want. We’ve got some great inventory on the market to choose from!
Interest rates just rose above 3% again for the first time in five weeks. That was the same week things started to slow back in mid-May. We’ll see if this lights a fire under any of the buyers who might be on the fence about their next home purchase.
Sellers listed 79 homes for sale this past week, 18 fewer than the week before. Buyers ratified 65 contracts, 29 fewer than last week and just 19 of which were on homes just listed in the past seven days.
This pace feels sluggish compared to 115 homes that went under contract 10 weeks ago. Since sellers have been slower to list over the past few weeks as well, new inventory is not building, though overall supply is as demand falls. At this week’s pace, we’ve got over two months’ worth of supply for the first time in many, many months.
This week, there are 537 available properties for sale throughout all of Arlington and across all property types — 136 are detached homes, 57 are townhome/semi-detached homes and 344 of the available units in Arlington are condos.
For a bit of perspective, this same week last year sellers listed 75 homes and buyers ratified 66 contracts. There were also only 294 available properties for sale this week last year.
The average list price for currently available properties is $763,191 and the median is $559,500. Currently available properties in Arlington have an average of 57 days on market (DOM) and a median of just 30.
Click here to search currently available Arlington real estate. If you see a home you’re interested in purchasing, give us a call.
Call the Andors Real Estate Group today at 703-203-1117 to talk more about buying or selling Arlington real estate. Below are eight new listings I think you might like to check out:
- 801 S. Greenbrier Street #306, Arlington, VA 22204 — $415,000
- 3409 Wilson Blvd #513, Arlington, VA 22201 — $565,000
- 105 S. Pershing Drive, Arlington, VA 22204 — $725,000
- 836 N. Frederick Street, Arlington, VA 22205 — $769,900
- 624 24th Street S., Arlington, VA 22202 — $933,000
- 4714 25th Road N., Arlington, VA 22207 — $1,150,000
- 1313 21st Street S., Arlington, VA 22202 — $1,399,000
- 2101 N. Stafford Street, Arlington, VA 22207 — $1,925,000
