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 welcome to Just Listed!
Mortgage rates climb yet again, the seventh week in a row. Rates averaged 5.11% over this past week as the 10-year treasury rapidly approaches 3%. The Fed just signaled they will raise their target rate by 50 basis points in May and that may not be the only one. Unfortunately, they are tamping down on housing demand but not on inflation through these moves.
I am witnessing a slowdown in Arlington real estate. I tell it like it is — what I see, what I feel and what I think. I’ve been debating my colleagues on this for the past few weeks, and I am adamant that is what is happening, at least in the short term.
Not all local markets will experience this, or not at the same time, or perhaps more or less severely, but often what happens is that things originate in D.C. and the hyper-local Northern Virginia region and extend outward in waves or ripples. We are insulated here in Arlington, but you only need to go out 10, 15 or 20 miles before those ripples accelerate and increase in size.
What does this mean? Well first, it means that houses that might have gotten 10 offers just a couple months ago may only get 2-4 offers. Doesn’t sound so bad you say? Well, sure, but houses that might have only gotten one offer may not get any, and mindsets are the hardest to break. Sellers will be expecting their home to sell for $100,000 over ask, and could be in for serious disappointment when instead they only get 99%-100% of what they were asking for.
Will prices go down!?! No, not any time soon, but they may stop going up and that may have already happened. The data lags on this by at least 30 days, but we may start seeing the year over year numbers start to level out…
At this moment in time, there are 295 properties available for sale in Arlington, 18 more than last week. Sellers listed 82 homes for sale, three less than last week. Ratified contracts are down 13 from last week, with just 59 contracts in the past seven days. Only 20 of those were homes listed just within the past seven days.
Of the 295 homes currently available for sale, 84 are detached homes, 28 are semi-detached/townhomes, and the remaining 183 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 $855,551, and the median price is $600,000. These homes have been on the market for an average of 43 DOM (days on market) and a median of 22.
This week last year, there were 438 homes available for sale throughout the county. Sellers had listed 146 homes for sale and buyers ratified 115 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.
- 1210 N. Taft Street #606, Arlington, VA 22201 — $329,000
- 631 N. Piedmont Street, Arlington, VA 22203 — $649,900
- 5015 22nd Street N., Arlington, VA 22207 — $649,900
- 1200 Crystal Drive #1212, Arlington, VA 22202 — $850,000
- 4323 24th Street N., Arlington, VA 22207 — $1,350,000
- 2316 N. Stafford Street, Arlington, VA 22207 — $1,495,000
- 3119 N. Quincy Street, Arlington, VA 22207 — $1,503,800
- 5133 37th Street N., Arlington, VA 22207 — $3,950,000
More many in Arlington, the Friday after Thanksgiving is an off day, often spent with family and friends (or braving the malls). For others — including those with jobs that…
Robbery at Pentagon City Mall — “1000 block of S. Hayes Street. At approximately 3:39 p.m. on November 22, police were dispatched to the report of a larceny just occurred….
An Arlington man is behind bars after police say he shot someone in the Green Valley neighborhood. The shooting happened early Sunday morning following what police described as a dispute…
Everyone has flat screen TVs already so how about a more interesting Black Friday special? The ARLnow Press Club for free, to try out the daily Early Morning Notes email…
The Alternative Christmas Market is back! At First Presbyterian Church Arlington in Ballston, located at 601 N. Vermont Street, Arlington VA 22203, on Sunday, December 4th from 9:30am to 1:00pm. Parking available.
Vendors and products this year include: 10,000 Villages, Olive Oil Ministry, African Team Ministries, Community Coalition for Haiti, Heifer, African Market Baskets, Café Justo, Thistle Farms, Southwest Indian Foundation, and Together We Bake.
Buy gifts for everyone on your list, and support these great organizations, artisans, and global neighbors. See you there!
(This Community Post was written by the [Arlington Chorale](http://arlingtonchorale.org/) and underwritten by [Embracing Arlington Arts](https://embracing-arlington-arts.org/).
Since the Arlington Chorale returned to in-person singing one year ago, local amateur singers have been signing up for auditions in unprecedented numbers. “Thirty of our current members joined within the last year,” says Ingrid Lestrud, Artistic Director. “Many of them have recently moved to Arlington, and they want to join a community. Chorale members get to sing beautiful music and meet a diverse group of people who love singing as much as they do!”
The singers are busy preparing their December 10 concert, Christmas Joy! Featuring John Rutter ‘s Magnificat and Kirke Mechem’s _Seven Joys of Christmas_ , audiences will hear familiar Christmas carols, as well as beautiful music with hints of tango, musical theatre, and jazz. The singers will be accompanied by a chamber orchestra of local professional players, and the concert will highlight the talents of soprano Helena Colindres. Members of the Chorale’s outreach group, the Youth Community Council, and select singers from the Chorale will be singing Christmas carols outside the venue as audience members arrive. After the performance, everyone is invited to join the singers downstairs for a reception with light refreshments. It’s a special community event you won’t want to miss! Tickets are $20 for adults and free for children under 12 available here. Please join the Arlington Chorale on **Saturday, December 10 at 5:00 PM at Westover Baptist Church!**
NCE’s Holiday Concert will bring the finest classical masterpieces and holiday favorites together for the whole family. The festivities begin with Leroy Anderson’s classic “Sleigh Ride” and “Chanukkah Festival”, music from the Nutcracker and by J.S. Bach.
Outstanding Young Artist