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.”
Some great inventory came on the market this week in Arlington, and ready buyers didn’t hesitate to snatch it up.
Seventy-five homes were listed, 54 were sold and half of those (26) sold within a week on the market. Amazing! That robust activity dropped Arlington’s average days on market to just 12!
It’s a brutal market out there for buyers right now. There were more stories told this week in the hallways of realtor offices of bidding wars, each agent seeming to have an even more incredible story. The houses attracting bidding wars fall into two recurring categories — total fixer uppers priced low and properly priced homes that have been updated and show in pristine condition.
Today’s buyers are highly discerning. They want a home that appears to have just come out of a new wrapper, regardless of its real age. After pushing their maximum buying power, they don’t have any cash left for improvements, and they are anxious about taking on projects for which they know nothing about.
Interest rates bounced higher this week after hitting 18-month lows last week. Rates climbed nearly 1/4% to 4.125%-4.375% for a 30-yr fixed rate. Poor buyers just can’t get a break.
Arlington home owners should feel lucky as their values continue to climb. Far better than Londoners. The average sales price of a home in London has dropped 3.8% in the last three months. Surveys indicate that Londoners are very concerned about how the U.K. will exit the European Union and how that will effect their economy. Now is not a good time to swap for a home in Chelsea.
Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.
- 854 S. Irving Street, Arlington, VA 22204 — $424,990
- 5061 9th Street S., Arlington, VA 22204 — $465,000
- 2632 N. Ohio Street, Arlington, VA 22207 — $755,000
- 3710 N. Lorcom Lane, Arlington, VA 22207 — $800,000
- 1613 N. Harrison Street, Arlington, VA 22205 — $975,000
- 1411 N. Vernon Street, Arlington, VA 22201 — $998,000
- 2776 N. Quebec Street, Arlington, VA 22207 — $1,150,000
- 3101 4th Street N., Arlington, VA 22201 — $1,350,000