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.
Welcome to Just Listed! Whether you’re reading this at 5:30 a.m., or catching up later in the day, we appreciate your interest in the Arlington real estate market.
If you’re considering a move, please give us a ring at (703) 203-1117 to chat about your upcoming plans. This is the time of year when both buyers and sellers start to think about their plans for the new year. There is no substitute for advanced planning — call us so we can get to work for you to ensure a top-notch real estate experience!
Interest rates continue to rise — now standing at 3.09% on average for the 30-year fixed rate mortgage, per Freddie Mac. This upward trend will continue to squeeze marginally qualified buyers out of the market but has much less impact at the higher price points. It also may spur more buyers to act before rates rise more, yet those two forces may roughly equal each other out.
Condominium inventory declines again, albeit by just one property this week. This really is an interesting development that may further shape the market in months ahead. With less condo inventory available, which generally are somewhat more affordable than their attached/detached counterparts, it remains to be seen how the other property types may be impacted. This week, detached home availability dropped by 15 units.
This week, 64 new properties were listed in the county, remaining unchanged from last week. Buyers ratified 65 contracts, two less than the week before, including 17 contracts on properties that had been on the market seven days or less.
In Arlington, we currently have 514 listed homes for sale, 17 less than last week. 125 of these options are detached homes. 68 are townhomes/semi-detached properties, and the remaining 321 are condominiums.
The average price for homes across all property types in Arlington right now is $766,393, while the median price is $582,500. On average, these homes have been on the market for 63 days, but the median is just 41.
A quick comparison to this week last year, there were 70 homes listed for sale and 55 ratified contracts. There were 541 properties available in Arlington.
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.
- 2911 S. Dinwiddie Street #B1, Arlington, VA 22206 — $415,000
- 2862 S. Abingdon Street, Arlington, VA 22206 — $525,000
- 3600 S. Glebe Road #632W, Arlington, VA 22202 — $665,000
- 820 N. Pollard Street #613, Arlington, VA 22203 — $719,000
- 2020 N. Westmoreland Street, Arlington, VA 22213 — $1,025,000
- 724 N. Edgewood Street, Arlington, VA 22201 — $1,200,000
- 5906 14th Street N., Arlington, VA 22205 — $1,249,900
- 3524 8th Street N., Arlington, VA 22201 — $1,350,000
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This is my last column. Over the past two years, I’ve had the privilege of sharing my views about housing with you. I don’t know if I changed anyone’s mind, but I do know I stirred up some conversation.