Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Team Cathell, “Your Orange Line Specialists.”
We are not alone.
Arlington’s real estate market is mirrored throughout Virginia and much of the country. In numerous conversations this week with real estate leaders nationally, other markets are seeing major inventory shortages and bidding wars on medium and lower priced homes just as we are.
But at the same time, the higher end market is stagnant if not struggling. Luxury homes (those homes priced in the top 10%) are taking longer to sell and increasingly need price reductions to attract offers.
Right now, Arlington’s market is hot hot hot, and will likely remain so until mid-May. There have been many more stories of multiple offers this week. Some 63 homes were listed this week, while 56 homes sold and 19 of those were gone in a week.
There’s a glimmer of good news for buyers, bad news for home owners. CoreLogic reports that home price appreciation has dropped significantly. While homes are still going up in value, it’s at a much slower pace.
Nationally, appreciation dropped to 4.2% in January compared to 6.8% in January 2018. The price slowdown coupled with stable interest rates at 4.375%-4.5% have improved buyer affordability.
Still, for buyers in Arlington right now it’s a jungle out there. To secure their dream home, they need to move fast, strike hard, and go BIG!
Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.
- 1762 N. Rhodes Street Unit #6-353, Arlington, VA 22201 — $285,000
- 2829 Abingdon Street S. Unit #B, Arlington, VA 22206 — $355,000
- 2400 Clarendon Boulevard N. Unit #PH15, Arlington, VA 22201 — $434,900
- 5812 2nd Street S., Arlington, VA 22204 — $695,000
- 2005 N. Jefferson Street, Arlington, VA 22205 — $875,000
- 3687 N. Nelson Street, Arlington, VA 22207 — $1,027,000
- 2259 N. Wakefield Street, Arlington, VA 22207 — $1,125,000