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.
Hello, Arlington, and welcome to JUST LISTED!
Buyers stepped up big this week, ratifying a ton of contracts, but sellers put even more new inventory on the market! The market is moving, but it is not moving at the pace we saw in the spring. Perhaps earlier this year we experienced all or most of the appreciation we would for the year, and now we’re just leveled off for the time being.
There is a big misconception about how slightly lower demand impacts prices. Many ask us if this means prices are going down, but the simple and straightforward answer is “no.” Prices are established by previous sales and what current buyers are willing to pay for them. While they correlate to days on market (DOM), it will take much more than a couple months of slightly lower demand before prices fall.
Reminder — 6 months of inventory is considered a market equilibrium. Right now, we’re still running at around 2.5 months of inventory, so it is a strong seller’s market, especially in the detached and semi-detached/townhome market.Prices haven’t fallen on any type of adjusted basis in Arlington, in over a decade. Of course, we move upward in some fits and spurts, so occasionally the appreciation slows along the way as we work towards new highs each year.
A huge surge in condo inventory over just the past four weeks (about 15%) is adding heavily to our overall inventory, and we have 77 more to choose from than this week last year (and 26 more than last week!)
PICKS OF THE WEEK: The Andors Real Estate Group is proud to have JUST LISTED two beautiful Arlington homes this week.
717 26th Street S., Arlington, VA 22202 — $1,185,000
Stylishly updated and expanded home located on a meticulously landscaped 6,075sf lot situated on one of the prettiest streets in the neighborhood with a broad, tree-lined median. Upper-level features four bedrooms and two full bathrooms, including a beautiful owners suite complete with a bay window, fireplace, large walk-in closet and an en-suite bathroom with soaking tub.
Kitchen and family room addition is perfect for large gatherings, including bar seating, tons of cabinet and counter space, and dual French doors leading to a screened-in porch and a private rear deck. On the main level, the formal living and dining rooms feature built-in shelving and cabinetry, as well as a fireplace. A convenient butler’s pantry and half bath along with main-level laundry and a beautiful sunroom round out the first floor.
Basement with good head height provides great storage space. The backyard is a serene oasis with beautiful gardening and landscaping. With gorgeous oak and heart pine flooring throughout both levels and loads of updates throughout, this home is perfectly move-in ready!
2448 N. Pocomoke Street, Arlington, VA 22207 — $1,150,000
Beautifully expanded and renovated Arlington Colonial located across the street from a small Arlington park and .9 miles to East Falls Church Metro. This four-bedroom, three full bathroom home sits on a flat 7,572 sq. ft. lot and has a screened porch overlooking the backyard as well as an open deck. The gorgeous owner’s suite has dual closet, a sitting area, picture frame window, vaulted ceilings and an enviable en-suite bathroom with air-jet tub.
Three more bedrooms are located on the upper level and share a hall bathroom. Main level has a circular flow, including formal living, formal dining, a sunroom and a chefs kitchen open to the expanded family room. Lower level features a third full bathroom, laundry room, rec room and abundant storage. A brand-new HVAC system was just installed this week!
You can find me and my team at these beautiful homes this weekend hosting in-person open houses — Saturday and Sunday 1-4 p.m.
Now for more of this week’s numbers and analysis.
Sellers listed 107 homes for sale this past week, 14 more than the week before. Buyers ratified 79 contracts, 38 more than the week prior. 33 of the ratified contracts were on homes JUST LISTED in the past seven days.
There are 555 available properties for sale throughout all of Arlington and across all property types: 147 are detached homes, 57 are townhome/semi-detached homes and 351 of the available units in Arlington are condos. For a bit of perspective, this same week last year sellers listed 84 homes and buyers ratified 68 contracts. There were also only 444 available properties for sale this week last year.
The average list price for currently available properties is $768,383 and the median is $575,000. Currently available properties in Arlington have an average of 59 days on market (DOM) and a median of just 36.
Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call!
Call the Andors Real Estate Group today at 703-203-1117 to talk more about buying or selling Arlington real estate. Below are eight new listings that I think you might like to check out.
- 888 N. Quincy Street #906, Arlington, VA 22203 — $569,900
- 2615 S. Kenmore Court, Arlington, VA 22206 — $819,900
- 716 S. Highland Street, Arlington, VA 22204 — $825,000
- 4701 8th Road S., Arlington, VA 22204 — $869,900
- 1607 N. Edison Street, Arlington, VA 22207 — $939,000
- 2448 N. Pocomoke Street, Arlington, VA 22207 — $1,150,000
- 717 26th Street S., Arlington, VA 22202 — $1,185,000
- 606 19th Street S., Arlington, VA 22202 — $1,875,000