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, as always, I appreciate you tuning into Just Listed to start your Friday morning well informed on all things Arlington real estate!
Interest rates rose again (and this data largely does not reflect what has happened since Wednesday when the fed raised their benchmark rate 50 basis points). According to Freddie Mac, interest rates averaged 5.27%, the highest since 2009. Freddie predicts that house prices continue to rise this year, but at a much slower pace, and I concur. Despite strong demand both nationally and locally, enough of the marketplace will be priced out through higher monthly payments (because of rates) and that will slow growth — in fact, it already has!
I just read that Boeing is moving their headquarters from Chicago to Arlington! This is just the latest story in the continued growth and trajectory for Arlington as a whole, and you can chalk that up to another reason we’ll be resilient should an economic downturn materialize, both in the short term and the long term.
Real estate continues to feel turbulent in Arlington, but on paper it continues to crank! While showings, open house visitors and offers are still down from earlier in the year, ratified contracts are working feverishly to compete with an influx of new inventory, showing Arlington buyers aren’t too concerned with 5+% interest rates.
Over the past seven days in Arlington, sellers have listed some 122 homes for sale while buyers ratified 90 contracts! Of the 90 ratified contracts, 55 of those were on homes that spend seven days or less on the market! Last week sellers listed 128 homes and buyers ratified 99 contracts.
Right now, in Arlington, there are 304 properties fully available for sale. Of those 304, 91 are detached properties, 28 are town homes/semi-detached properties, and 185 are condominiums.
The average sales price for currently available homes in Arlington is $864,024 and the median is $625,000. Days on market has ticked up just a bit, with the average sitting at 45 days and the median at 25 days. This is exactly what I predicted would start to happen, and while 3 days more on market (median) doesn’t seem significant, it represents about a 13.5% increase in just one week!
This week last year, sellers had listed 99 homes for sale and purchasers ratified 82 contracts. There were 452 homes for sale, meaning we have 48.7% less inventory to choose from this year. Interest rates averaged just 2.96% — wow!
Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!
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 — let me know what you think!
- 3411 S. Stafford Street, Arlington, VA 22206 — $525,000
- 4653 2nd Street S., Arlington, VA 22204 — $770,000
- 837 31st Street S., Arlington, VA 22202 — $975,000
- 7024 Williamsburg Boulevard, Arlington, VA 22213 — $1,037,000
- 5722 4th Street N., Arlington, VA 22205 — $1,099,000
- 2907 N. Greencastle Street, Arlington, VA 22207 — $1,175,000
- 5011 14th Street N., Arlington, VA 22205 — $1,198,000
- 3081 N. Quincy Street, Arlington, VA 22207 — $1,899,900
A suspect fired gunshots at police in Arlington, sparking a high-speed chase down Route 50 that ended in the West Falls Church area of Fairfax County.
After 61 years with D.C.’s local NBC station, the teen quiz show “It’s Academic” has a new broadcast home: WETA-TV in Arlington. And the inaugural episode on the public TV…
A fight among teen girls in Rocky Run Park, near Courthouse, prompted a police response yesterday (Wednesday) evening. Arlington County police say three girls attacked another after a verbal dispute…
Feeling the pressure to respond to its soaring office vacancy rate, Arlington County is looking to fill empty buildings quickly. One option for adding tenants and knocking down the 20.8%…
Join Us on Monday, October 17, 2022, for our General Membership Meeting & Arlington County Candidate Forum led by the NAACP Arlington Branch Political Action CommitteeTime: 7:00-9:00 pmLocation: Virtual on Zoom County Board (3 candidates)Matt de Ferranti (https://mattforarlington.com/)Audrey Clement (https://audreyclement.com/)Adam Theo (https://www.theoforarlington.org/) School Board (2 candidates)James “Vell” Rives (https://www.rivesforsb.com/)Bethany Sutton (https://www.bethany4aps.org/)Open to the PublicRegister: https://us06web.zoom.us/meeting/register/tZwvdu- gpzkpE9XJn5vI3Fy-LO6f1r0qli7V After registering, you will receive a confirmation email containing information about joining the meeting.”The NAACP is a non-partisan organization and does not endorse candidates for political office at any level. Persons affiliated with the NAACP at the national, state, and local levels are free to make candidate endorsements in a personal capacity, but they do not reflect support by the NAACP as an organization.” Derrick Johnson, President/CEO, NAACP, May 22, 2022
Classes start in just a couple of weeks here at MoCA Arlington! Programs are filling up so sign up today to reserve your space! We have a wide variety of wonderful programs from painting to mixed media to illustration and more!
Mini Family & Pet Photo Sessions
Beat the rush and sign up to get your holiday photos now!
Bring your kids! Bring your dogs!
Check out the DeSilva Studios website. Look at the images and see if you like them