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.
Good morning, Arlington, and welcome to JUST LISTED!
Average and median days on market (DOM) are rising, inventory is contracting, and buyers are not taking as many homes under contract.
In just eight weeks, median days on market has crept up by 12 days, from 30 to 42. This is mostly attributable to fewer new listings coming on market but is also impacted by fewer ratified contracts. Houses are taking a bit longer to sell, and this continues to encourage an uptick in price reductions amongst sellers who thought their home would sell more promptly.
Interest rates are staying remarkably stable, according to Freddie Mac. The 30-year fixed rate mortgage is currently at 2.86% on average. This is something I think will have a big impact on the upcoming fall market – buying power is still near an all-time high, and demand remains very high, especially for detached homes.
Let’s dive into the numbers a bit more below, and of course check out some of the newest Arlington inventory as well.
Sellers listed 53 homes for sale this past week, 13 less than the week before. Buyers ratified 59 contracts, four more than the week prior. 21 of the ratified contracts were on homes JUST LISTED in the past seven days.
There are 506 available properties for sale throughout all of Arlington and across all property types: 146 are detached homes, 55 are townhome/ semi-detached homes and 305 of the available units in Arlington are condos.
For a bit of perspective, this same week last year sellers listed 83 homes and buyers ratified 68 contracts. There were also only 392 available properties for sale this week last year.
The average list price for currently available properties is $812,168 and the median is $599,000. Currently available properties in Arlington have an average of 64 days on market (DOM) and a median of just 42.
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.
- 4500 S. Four Mile Run Drive #1123, Arlington, VA 22204 — $399,900
- 851 N. Glebe Road #314, Arlington, VA 22203 — $420,000
- 2842 S. Buchanan Street, Arlington, VA 22206 — $554,000
- 1407 S. Columbus Street, Arlington, VA 22204 — $739,000
- 1104 N. Kentucky Street, Arlington, VA 22205 — $799,000
- 1716 12th Street S., Arlington, VA 22204 — $999,900
- 1509 N. Scott Street, Arlington, VA 22209 — $1,800,000
- 4212 39th Street N., Arlington, VA 22207 — $2,495,000
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