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 Arlingtonians, and thanks for reading Just Listed!
At the risk of sounding like a broken record, interest rates have risen… again! Now sitting at 4.72% and up a full 1.5% in the past three months, according to Freddie Mac this is the fastest rise since May of 1994. Additionally, this has decreased buying power by an amazing TWENTY PERCENT since this time last year. For comparison, one year ago today, interest rates were just 3.13%!
Last week I told you inventory has been slowly but steadily rising and I was starting to see a trend. This week, inventory is down by six units… and ratified contracts are up. Even trends can take a dip here and there!
These numbers don’t quite resemble sentiment that myself and a number of my colleagues have been feeling recently. That’s likely because some of these market indicators don’t show up in data right away. For example, I’m witnessing a bit of a decrease in open house traffic and less showings on currently active listings. These are signs of what may be to come in weeks ahead (potentially less ratified contracts) but not necessarily in this week’s data.
As of right now, we have 276 properties available for sale in Arlington, six less than last week. Sellers listed 106 homes for sale, one more than last week and 106 new listings is a pretty good pace. Ratified contracts are up 11 more than last week, with 83 contracts in the past seven days. An amazing 50 of those were homes listed just within the past seven days.
Of the 76 homes currently available for sale, 75 are detached homes, 34 are semi-detached/townhomes, and the remaining 167 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 $865,852, and the median price is $609,950. These homes have been on the market for an average of 48 DOM (days on market) and a median of 22.
This week last year, there were 427 homes available for sale throughout the county. Sellers had listed 96 homes for sale and buyers ratified 59 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 eight new listings that I think you might like to check out.
- 1205 N. Garfield Street #511, Arlington, VA 22201 — $455,000
- 2209 6th Street S., Arlington, VA 22204 — $589,000
- 4259 35th Street N., Arlington, VA 22206 — $695,000
- 704 N. Oakland Street, Arlington, VA 22203 — $878,000
- 633 22nd Street S., Arlington, VA 22202 — $1,250,000
- 2011 N. Woodstock Street, Arlington, VA 22207 — $1,525,000
- 1911 N. Roosevelt Street, Arlington, 22205 — $1,765,000
- 2005 N. Nottingham Street, Arlington, VA 22205 — $1,899,900
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