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.
Interest Rates — These very important details of the real estate market just SKYROCKETED to 3.45% for a 30-year fixed rate mortgage! This is a tremendous jump, from 3.22% last week, from 2.78% just six months ago and the highest since March 26, 2020, according to Freddie Mac.
Why are rates rising? Well, the Fed has signaled multiple rate hikes in 2022 as they start to tighten their monetary policy to fight rampant inflation, but this does not lead directly to the mortgage rates I quoted you above. The reason these rates have risen is due to the expectation of Fed interest rate hikes. The interest rates borrowers pay are more closely related to the 10-year treasury yield, and that takes its ques from broader market sentiment and expectations. In any case, rates rose almost a quarter of a point in just the last week, a very steep rise that is likely to impact home purchases, especially if inventory remains tight.
Last week we had 261 properties for sale in Arlington, and this week we have just one more, for a total of 262.
We saw a big jump in activity from two weeks ago — no surprise as we’re now solidly past the holidays. Sellers listed 56homes in the past week, double the 28 from last week, and buyers ratified 56 contracts, 16 of which were on homes listed seven days or less.
Of the 262 homes currently available for sale, 61 are detached homes, 29 are semi-detached/townhomes, and the remaining 172 are condominiums. These properties range in price from $100,000 all the way up to $4,250,000.
Average list price for currently available homes is $847,787, and the median price is $562,450. These homes have been on the market for an average of 82 DOM (days on market) and a median of 49. From last week, average days on market dropped by 7, and median by 13, both lowered by a large influx of new homes starting to hit the market.
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.
- 4605-A 28th Road S., Arlington, VA 22206 — $393,700
- 4622 36th Street S. #A, Arlington, VA 22206 — $589,900
- 3315 S. Stafford Street, Arlington, VA 22206 — $599,900
- 4414 34th Street S., Arlington, VA 22206 — $600,000
- 5332 2nd Street S., Arlington, VA 22203 — $895,000
- 1615 N. Queen Street #M301, Arlington, VA 22209 — $1,250,000
- 6058 Little Falls Road, Arlington, VA 22207 — $1,350,000
- 2334 N. Vermont Street, Arlington, VA 22207 — $2,250,000
Good Monday evening, Arlington. Let’s take a look back at today’s stories and a look forward to tomorrow’s event calendar. 🕗 News recap The following articles were published earlier today…
Arlington Public Schools has a new internal social media platform for families but its anonymous commenting policy prompted a tense discussion among some School Board members. This year, the school…
An Arlington-based company that helps startup founders turn their ideas into viable ventures has a new permanent home in Rosslyn.
Through Christmas, ART bus trips in peak directions along the I-66 corridor, during rush hour, will be free.
The Arlington Sports Hall of Fame is extremely pleased to announce that our 2023 Annual Induction Dinner, again in partnership with the Better Sports Club of Arlington, will be held on Wednesday, Oct. 11, at the Knights of Columbus, located at 5115 Little Falls Road, Arlington, Va.
Our dinner will pay tribute to all the honored members of the Hall of Fame and will induct the following six new Class of 2023 inductees, joining the 62 athletes, coaches and contributors who have been inducted into ASHOF since its founding in 1958:
Noel Deskins (Yorktown Class of ’79): Track & Field record-holder & Athlete of the Year at YHS and JMU
Eric Metcalf (O’Connell Class of ’85): Star NFL running back, football and track & field record-holder and Hall of Famer at both O’Connell and the University of Texas
🌟 Calling all adventurous hearts! 🌟
💑 Get ready for an evening of excitement and connection as we present Speed Dating Night at The Renegade in Arlington, VA! 🌆
📅 Mark your calendars for Oct 20th, from 6-9 pm, because