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.
Hey there, Arlington, and welcome to JUST LISTED!
It’s another hot (temperature) August week here in Arlington with temps inching toward the triple-digits, and it’s been a sluggish (relatively speaking) real estate market. New listings remain low, and ratified contracts are low as well. To put this week’s numbers into some perspective from earlier in the year, 10 weeks ago, buyers ratified twice as many contracts as they did for this past week! New listings were also more plentiful with 58% more new properties for sale 10 weeks ago.
Last year for this week, I wrote about how inventory in Arlington was steadily growing. I speculated that it may have been due to a perceived “exodus” to the suburbs, and while many did make that move, it’s been abundantly clear that Arlington is still in high demand.
I’ve mentioned this in the past, but it’s worth discussing a little bit more — price reductions. In Arlington over the past seven days, we’ve seen 49 homes with price reductions, representing just short of 10% of all available homes for sale. First, most of these reductions are on condominiums because the market just isn’t that strong for condos (and hasn’t been since March 2020). Second, these reductions spell buyer opportunity, so for anyone wishing they didn’t have to get into a bidding war or isn’t willing to waive contingencies, look at these properties. Third, this is not representative of a softening in the market, but instead indicative of a seller who does indeed wish to sell their home. If they didn’t get the price that they were asking for, after a certain amount of time, that becomes clear and a reduction is necessary to “find the market.”
Now, more on our weekly numbers below as well as a comparison to last year for the same week.
Sellers listed 68 homes for sale this past week, five more than the week before. Buyers ratified 55 contracts, 12 fewer than the week prior. Just 16 of the ratified contracts were on homes JUST LISTED in the past seven days.
There are 513 available properties for sale throughout all of Arlington and across all property types: 139 are detached homes, 56 are townhome/semi-detached homes and 318 of the available units in Arlington are condos.
For a bit of perspective, this same week last year sellers listed 91 homes and buyers ratified 59 contracts. There were also only 370 available properties for sale this week last year.
The average list price for currently available properties is $805,683 and the median is $599,000. 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.
- 1021 Arlington Blvd #309, Arlington, VA 22209 — $160,000
- 4500 S. Four Mile Run Drive #101, Arlington, VA 22204 — $399,000
- 3349 Kemper Road, Arlington, VA 22206 — $840,000
- 3930 Vacation Lane, Arlington, VA 22207 — $899,900
- 1708 23rd Street S., Arlington, VA 22202 — $965,000
- 2615 S. Hayes Street, Arlington, VA 22202 — $1,149,000
- 4112 26th Road N., Arlington, VA 22207 — $1,175,000
- 3414 N. Albemarle Street, Arlington, VA 22207 — $2,850,000