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.
Hello, Arlington, and welcome to JUST LISTED!
The August doldrums have arrived! This is the third week of declining numbers for ratified contracts and the fourth week for declining ratified contracts on newly (within seven days) listed properties. We also have less available inventory for four weeks in a row, with a 10% decline over the past month.
We will likely level out at this point — I do not expect inventory to drop too much more — though this week is the first week I can recall in a very long time where ratified contracts have outpaced new listings. Last week they were dead even.
Expect this to be pretty much par for the course until around Labor Day. I’ve often called the fall market in Arlington the “second spring” and anticipate this year to follow suit.
Make no mistake about the month of August. The market is still red hot, and buyers will have to work hard to get the nicest, most move-in ready properties! Just yesterday, the Andors Real Estate Group received four offers on our newest listing, bidding the price up over $70,000, or roughly 8% over the list price, and buyers removed almost all standard contingencies.
Now, more on our weekly numbers below, as well as a comparison to last year for the same week. Sellers listed 63 homes for sale this past week, 10 less than the week before. Buyers ratified 67 contracts, six less than the week prior. Just 16 of the ratified contracts were on homes JUST LISTED in the past seven days.
There are 497 available properties for sale throughout all of Arlington and across all property types: 133 are detached homes, 52 are townhome/ semi-detached homes and 312 of the available units in Arlington are condos.
For a bit of perspective, this same week last year, sellers listed 88 homes and buyers ratified 68 contracts. There were also only 351 available properties for sale this week last year.
The average list price for currently available properties is $802,825 and the median is $580,000. Currently available properties in Arlington have an average of 62 days on market (DOM) and a median of just 37.
Click here to search currently available Arlington real estate. If you see a home that 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 that I think you might like to check out.
- 2301 25th Street S. #4-304, Arlington, VA 22206 — $425,000
- 1021 N. Garfield Street #444, Arlington, VA 22201 — $490,000
- 2404 S. Walter Reed Drive #3, Arlington, VA 22206 — $675,000
- 2654 S. Kenmore Court, Arlington, VA 22206 — $832,500
- 1146 N. Taylor Street #1, Arlington, VA 22201 — $850,000
- 4704 23rd Street N., Arlington, VA 22207 — $1,325,000
- 5063 27th Street N., Arlington, VA 22207 — $1,750,000
- 3038 N. Peary Street, Arlington, VA 22207 — $3,250,000
