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.
Don’t let the weather fool you, the market is still HOT!
Sure, inventory is hanging just above two months of supply, but the overall dynamic has been constant for many, many years now. It’s a strong seller’s market and by-and-large, sellers get what they are asking for when listing their home for sale.
Mortgage applications are a good barometer of where the market is headed, despite fluctuations week over week. Though down a bit for the past few weeks, they are up 6.8% this week, and up almost 50% year over year! That type of increase says there is massive unsatisfied demand for housing, and sellers should take advantage of this huge pool of buyers.
Thinking of downsizing? Downsizing can mean different things to different people. Sometimes it’s less space, sometimes it’s a move closer to the city to spend more time enjoying shopping, dining, arts, etc., late in life, and sometimes it’s a reduction in hassle and maintenance of a large home.
Consider this — rent is presently falling in many areas while housing prices continue to hit all-time highs. Transitioning to renting from owning could allow you to cash in on the highs while double-dipping into a lower monthly output and less responsibility… if something breaks, call your landlord!
This past week in Arlington, sellers listed some 97 properties for sale while buyers ratified 52 contracts. 32 of the ratified contracts were on homes listed just within the past week.
There are currently 488 homes for sale in Arlington, 44 more than last week. 148 are detached homes, 49 are townhouses/semi-detached and 291 are condos. Average days on market (DOM) for currently available homes is 48 and median DOM is 29.
The median list price of currently available properties is $635,000, while the average is $840,368. Last year for the same week, sellers listed 71 homes and buyers ratified 51 contracts.
Click here to search currently available Arlington real estate — if you see a home you’re interested in purchasing, we’d love to help!
Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight homes that are new this week that I think you might like to check out.
- 4500 S. Four Mile Run Drive #1233, Arlington, VA 22204 — $349,900
- 2179 S. Shirlington Road, Arlington, VA 22204 — $579,900
- 3409 N. Wilson Boulevard #207, Arlington, VA 22201 — $688,500
- 420 S. Edgewood Street, Arlington, VA 22204 — $725,000
- 6820 28th Street N., Arlington, VA 22213 — $925,000
- 6115 N. Washington Boulevard, Arlington, VA 22205 — $1,050,000
- 1411 N. Key Boulevard #311, Arlington, VA 22209 — $1,100,000
- 706 S. Barton Street, Arlington, VA 22204 — $1,249,000