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! Welcome to Just Listed!
SURPRISE — rates rose again, and now average 5.3% during the past week. Expect this to continue — buyers, it’s time to lock in your payment for your new home before rates keep rising…
The market is cooling nationally, and despite the resilience we all appreciate in the Arlington marketplace, it is happening here too. I’m starting to see price reductions and days on market creeping upward. This historic inventory shortage will slowly but surely head in the direction of a more balanced marketplace, but I’d be guessing if I told you I thought it would balance out. That’s highly unlikely, for now. What will happen is buyers will get the ability to retain home inspection and financing/appraisal contingencies in their offers — a much needed reprieve in itself.
New listings took a breather this past week; sellers listed just 99 over the past seven days, a reduction of 23 from the week prior. Buyers ratified 82 contracts, a reduction of eight from the previous week. Of the 82 ratified contracts, 45 of those were on homes that spent seven days or less on the market!
Right now, in Arlington, there are 301 properties fully available for sale, three less than last week. Of those 301, 80 are detached properties, 33 are town homes/semi-detached properties, and 188 are condominiums.
The average sales price for currently available homes in Arlington is $846,450 and the median is $600,000. Days on market has ticked up just a bit, with the average sitting at 48 days and the median at 29 days. Median days on market is now up a by seven days, or 33%, in just the past three weeks — make no mistake this represents the start of a significant slowdown in overall activity!
This week last year, sellers had listed 116 homes for sale and purchasers ratified 73 contracts. There were 477 homes for sale. Interest rates averaged just 2.94% — 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 properties I think you might light to check out.
- 5565 Columbia Pike #706, Arlington, VA 22204 — $199,000
- 1800 Wilson Boulevard #108, Arlington, VA 22201 — $470,000
- 3493 S. Utah Street, Arlington, VA 22206 — $599,900
- 3305 Kemper Road, Arlington, VA 22206 — $859,500
- 5710 25th Road N., Arlington, VA 22207 — $1,025,000
- 2505 4th Street N., Arlington, VA 22201 — $1,269,900
- 810 N. Daniel Street, Arlington, VA 22201 — $1,700,000
- 6601 31st Street N., Arlington, VA 22213 — $2,549,000
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