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.
Demand slides as inventory continues to decline — less contracts and less housing options in Arlington.
We’re in the doldrums, folks, even in hot, hot, hot Arlington County, the market still takes a breather approaching the holidays. Ratified contracts declined this past week, as did new inventory, approaching the end of the year. This is typical and doesn’t reflect what the market will look like just a month or two from now. I expect a robust market in the spring
Interest rates continue to inch up, currently sitting at an average of 3.12% for a 30-year fixed rate mortgage. There is broad, though not unanimous consensus that they will continue to rise through 2022. This is not likely to impact the hyperlocal Arlington County market too much but will have an impact on other areas of the country with lower average household income.
This past week, buyers put 49 homes under contract in Arlington, 10 less than last week. 13 of the ratified contracts were on homes that had spent one week or less on the market. Of the 59 contracts buyers ratified, 17 were on properties that had spent one week or less on the market. Sellers listed 37 properties for sale this week, 10 less than last week.
Inventory, always the story in Arlington, continues to drop off. Last week I told you it was the lowest in 22 months… and now we have 22 less options from last week. Of the 321 available properties for sale in Arlington, 72 are detached homes, 40 are town houses/semi-detached properties, and 209 are condominiums.
As of this week, the average list price of homes currently for sale is $803,137, and the median is $539,450. Average days on market (DOM) is 85, and the median is 57. Homes of all types throughout Arlington range in price from $100,000 all the way up to $4,250,000!
This week last year, there were 467 homes available for sale in Arlington! Average days on market was 73, and median was 56. Sellers had listed 31 homes for sale, and buyers ratified 46 contracts.
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 homes that came on the market this week that you might be interested in. There were only 18 new homes listed this week total.
- 1737 N. Queens Lane #1-128, Arlington, VA 22201 — $360,000
- 2600 16th Street S., Arlington, VA 22204 — $435,000
- 1600 N. Oak Street #1501, Arlington, VA 22209 — $489,900
- 2420 S. Oxford Street, Arlington, VA 22206 — $620,000
- 1200 N. Nash Street #212, Arlington, VA 22209 — $695,000
- 817 S. Oak Street, Arlington, VA 22204 — $718,900
- 1200 Crystal Drive #313, Arlington, VA 22202 — $799,900
- 3414 N. Albemarle Street, Arlington, VA 22207 — $2,695,000
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As the summer winds down, it’s a great time to look forward to a creative fall! Art House 7 has a terrific selection of classes, for preschoolers to adults. Our fall session, starting September 6, offers painting, drawing, sculpture, collage, ceramics (including the wheel) and sewing. We have specialty classes such as Suminagashi, the ancient art of Japanese water marbling.
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