Press Club

Just Listed in Arlington

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.

Hello, Arlington — good morning and welcome to Just Listed!

I’m in my tenth year in Arlington real estate, grew up watching my father sell Arlington real estate my entire life, and neither of us have seen anything like what we’re experiencing now!

This is truly an extraordinary dynamic of fast paced, high stress, unbalanced and exuberant frenzied activity and I’m seeing people start to get weary. Buyers get disheartened after losing out on several houses they would like to have called home, while sellers can’t get enough of it! Realtors are tired (of showing houses and then delivering bad news to their buyers), lenders are tired (of issuing pre-approval letters that go nowhere), appraisers are tired (of lenders and agents hounding them to move quicker) and it’s still early spring!

December 13, 2018 — it’s been that long since interest rates were this high! Rates are sitting at 4.67% and projected to rise farther this year. Sky-high inflation, strong consumer demand and geopolitical uncertainty are just a handful of reasons why these rates just keep going up

Rising interest rates may be starting to impact inventory — it’s somewhat indirect and I can’t only attribute it to this, but inventory is rising. Inventory starts to rise in the spring due to more homes hitting the market, and this happens each year. It’s early, but I may be seeing a trend, it’s just hard to know everything to attribute it to. I’ll keep a close eye on this and let you know what I’m seeing each week, as always!

This week in Arlington there are 20 more properties available in the county than last week, totaling 282. Sellers listed 105 homes for sale, seven more than last week.

Rate volatility may be pushing some buyers out of the market, and simultaneously encouraging others to do everything they can to get a piece of the metaphorical Arlington pie! Ratified contracts are up two more than last week, with 72 contracts in the past seven days. 35 of those were homes listed just within the past seven days.

Of the 282 homes currently available for sale, 69 are detached homes, 36 are semi-detached/townhomes, and the remaining 177 are condominiums. These properties range in price from $100,000 all the way up to $7,950,000.

Average list price for currently available homes is $822,484, and the median price is $588,950. These homes have been on the market for an average of 50 DOM (days on market) and a median of 20. Median days on market of less than three weeks is a first for me — this is absolutely incredible to think that over 50% of homes in the county sell in less than three weeks!

This week last year, there were 426 homes available for sale throughout the county. Sellers had listed 108 homes for sale and buyers ratified 96 contracts. Interest rates were just 3.18%!

PICK OF THE WEEK — 2931 S. Grant Street, Arlington, VA 22202 — $2,125,000

No detail overlooked in this stunning 2019 Craftsman home with 5 bedrooms, 4.5 baths on three beautifully finished levels on a grassy, gently sloping and landscaped 9,000sf lot, fenced in the rear. An entertainer’s dream with 5000+ sq. ft. of luxury living including HGTV-worthy gourmet kitchen w/professional-grade appliances open to a vaulted-ceiling great room with gorgeous stone fireplace, and a banquet-sized dining room. Abundant fine finish carpentry and high-end details throughout. Bright walk-out lower-level with 11′ ceilings has a great room featuring a gas fireplace, a gorgeous, expansive walnut wet bar with seating, large bedroom with full bath (perfect au pair/in-law space) and plenty of storage. This home is perfect for multigenerational living. Oversized 2-car garage with extra storage over a huge workshop. Rear screened porch and deck offer skyline views.

Find me and my team here this weekend, Saturday and Sunday from 1-4 p.m. for the public open houses!

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.

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