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.
Welcome to JUST LISTED, Arlingtonians!
I’ll pile on the bad news for those seeking a mortgage and let you know right off the bat that rates have continued to surge, with Freddie Mac reporting that over the past week, the average rate has hit 6.7%, and that’s with almost a full point at closing!
Wow, compare this to the same week last year when mortgage rates were 3.01%. This translates to well over $1,000 in additional costs for a typical Arlington mortgage, per month!
What does this mean for buyers and the market? Well, it means it has gotten more expensive to finance a home, but the rest of the calculation is the same — go ahead and buy that home, live in it for five or more years, and expect that you may refinance somewhere along the way! Mortgage rates are not likely to stay this high, though they may continue to rise in the short term — there will be opportunity down the road to correct your mortgage payment with a lower interest rate. Give strong consideration to an ARM (adjustable-rate mortgage) product these have surged in popularity recently and can save you a lot of money.
This week in Arlington, sellers listed 64 homes for sale (three more than last week), while buyers ratified 45 contracts, 19 of which were on homes just listed in the last seven days.
Of the 415 homes currently available for sale (one more than last week), 137 are detached homes, 69 are semi-detached/town houses, and 209 are condos. Of those currently available properties, the average asking price is $919,984 and the median is $699,999. These properties have been sitting on the market for 53 days on average, while the median is 29.
PICK OF THE WEEK — The Andors Real Estate Group is proud to have JUST LISTED 2735 Fort Scott Drive, Arlington, VA 22202 — $1,650,000.
This is a once in a generation (or two or three) opportunity to own a one-of-a-kind storied Arlington Colonial with views! In the same family for over half a century, this beautiful home shines with loads of charm, character and attention to detail. Beautiful wrap around staircases, soaring 20′ ceilings in the foyer, seven bedrooms, four full bathrooms and one half bathroom and nearly 5,000sf of finished space on all four levels. An almost 10,000sf lot overlooks Crystal City’s skyline and into Washington, D.C. Gorgeous hardwoods throughout, large proportioned rooms, a very functional floor plan and a walk-out lower level are just some of the features of this wonderful home.
Find my team there this weekend for public open houses, Saturday 1-4 p.m. and Sunday 1-3 p.m.!
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!
- 4626 34th Street S., #1602, Arlington, VA 22206 — $469,000
- 3107 9th Road N., Arlington, VA 22201 — $835,000
- 3206 22nd Street N., Arlington, VA 22201 — $925,000
- 1142 N. Vernon Street, Arlington, VA 22201 — $990,000
- 1332 N. Danville Street, Arlington, VA 22201 — $1,125,000
- 2735 Fort Scott Drive, Arlington, VA 22202 — $1,650,000
- 1732 N. Veitch Street, Arlington, VA 22201 — $2,075,000
- 3712 N. Woodrow Street, Arlington, VA 22207 — $2,375,000
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Is home ownership a goal of yours in 2023? Now is the time to make it happen! Grab a (virtual) drink with the area’s top Real Estate experts, learn all about the home buying process and on how you can get $1,500 towards your closing costs immediately!
Did you know the average Arlington renter will spend $150K in 5 years of renting? Stop paying down someone else’s mortgage! Join us for a Rent vs. Buy Happy Hour on Wednesday, June 7th at 6 p.m. via Zoom. If this time doesn’t work, we also are offering times convenient for your schedule!
A lot has happened in the local market since the beginning of the pandemic. Sip on your drink of choice and learn from Northern Virginia, Arlington and Washingtonian Magazines top producing agents! We will discuss the latest market updates, the home buying process and rent vs. buy cost savings. Please RSVP by clicking here.
Call/text Manavi at 703-869-6698 with any questions!
Mason Square hosts dynamic weekly programming and ongoing special events, open to the Mason and greater Arlington community. All activities are free and open to the public. Join us at Mason Square today!
Homebuying 101: Steps to Getting Pre-Approved
Are you ready to jump into homeownership or started considering it but don’t know where to start? Financial preparation is key when thinking about purchasing your first home and the first step to getting pre-approved.
Join ACFCU’s mortgage loan officers
4th of July Celebration & Fireworks
Treat yourself this Independence Day with a world-class, private 4th of July extravaganza at the Military Women’s Memorial – a premier National Capital Region site.
Great food, fun, and the best views of Washington DC’s spectacular fireworks display. Relax, enjoy,