Arlington, VA

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.

Good morning Arlington! I hope you had a fantastic Fourth of July weekend. Perhaps you heard many more ‘private’ fireworks this year than in years past just as I did. We thoroughly enjoyed the flyovers — what a treat!

As anticipated, it was a slow week for Arlington real estate — one of just a few weeks each year where we can expect volume to decrease significantly — this year it was down about 50% from the week prior.

Sellers listed some 79 properties for sale this week while buyers ratified just 47 contracts, 20 of which were on properties listed since just last week. This leads to a bit of extra inventory this week, but rest assured, buyers will do their part this week and we’ll see new contracts up a good bit next week. We may also see more price reductions than usual as a result of days on market creeping up a bit in the short term.

That could spell opportunity for some on the buy side — my recommendation: Try to scoop it up before the price reduction; reductions can result in a renewed interest and even spark bidding wars on a not-so-new property. If you see a property that’s been on the market for 14-21 days, there’s a good chance it’s due for a price reduction to stay relevant, especially if sellers keep adding 70+ listings per week.

There are currently 309 homes for sale in Arlington, 30 more than last week. 136 are detached homes, 24 are townhouses/semi-detached and 149 are condos. Average days on market (DOM) is 49 and median DOM is 28.

The median list price of currently available properties is $899,900, while the average is $1,078,621. This is now the third week in a row that median price has stayed below $1M! Median price keeps moving lower as the homes priced below $1M continue to sell at a much brisker pace than those priced above.

Last year for the same week, sellers listed 34 homes and buyers ratified 38 contracts — historically a slow week for real estate. This year though, we had twice the amount of new inventory come online.

Click here to search currently available Arlington real estate. 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.

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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.

Happy Fourth of July to all you Arlingtonians!

Thank you for being regular readers of my Just Listed column, and I hope you have a fantastic long weekend — you all deserve it! We know it will be a weekend filled with fun and hope everyone will do their part to follow appropriate precautions and keep Virginia out of the news for increasing COVID-19 cases.

ARLnow is moving up Friday’s column’s to Thursday for this week only, so the data is from a slightly shorter week.

This coming week is likely to follow historic trends in terms of housing and be a slower one — possibly a blessing in disguise for buyers who are trying unsuccessfully to buy a piece of Arlington real estate. Buyers — if you’re struggling and attempting to go at this on your own, please give us a call at (703) 203-1117 and let our team get to work for you. We’ve got a proven, winning track record in Arlington and are glad to share our success with you.

Sellers listed some 67 properties for sale this week while buyers ratified 61 contracts, 31 of which were on properties listed since just last week.

There are currently 279 homes for sale in Arlington; 15 less than last week, the first drop we’ve had in months. 123 are detached homes, 22 are townhouses/semi-detached, and 134 are condos. Average days on market (DOM) is 44 and median DOM is 30.

The median list price of currently available properties is $949,999, while the average is $1,115,105. Two weeks in a row now that median price has stayed below $1M, and the week before that it was just barely above at $1,005,000.

Last year for the same week, sellers listed 77 homes and buyers ratified 65 contracts. At this pace, inventory will continue to drop modestly as it did this week — further stressing our approximately one month of inventory, near a record low.

Click here to search currently available Arlington real estate. 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.

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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.

Purchase demand has now completely returned to pre-crisis levels!

According to Freddie Mac, it took 10 years after the Great Recession for demand to rebound, but it only took 10 weeks for the numbers to return since March. We know that here in Arlington the Great Recession didn’t affect us as deeply or for as long, but it’s highly encouraging to see such a quick rebound this time. This is attributable to many things, but the biggest contributors are rock-bottom low interest rates and pent-up demand.

Sellers listed some 75 properties for sale this week while buyers ratified 66 contracts. 33 of the ratified contracts were on homes that had been on the market one week or less. Again, half of brand-new inventory gets scooped up in the first seven days on market. Buyers, if you’re looking for the nicest, newest home prospects, you’ll have to get out there the minute it hits the market before it’s too late!

For sellers, it’s good to know that demand has remained consistently high despite the COVID-19 pandemic and lockdown. If you have been on the fence about whether or not to sell now, the answer is yes. Contact us for guidance on how to do it right.

There are currently 294 homes for sale in Arlington, eight more than last week. 130 are detached homes, 26 are townhouses/semi-detached, and 138 are condos. Average days on market (DOM) is 44 and median DOM is 30.

The median list price of currently available properties is $946,950, while the average is $1,102,655. Last year for the same week, sellers listed 61 homes and buyers ratified 53 contracts.

Click here to search currently available Arlington real estate. 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.

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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.

It was a blockbuster week in Arlington real estate, and we continue our upward trend of increased activity!

Sellers listed some 86 properties for sale this week while buyers ratified 72 contracts. 44 of the ratified contracts were on homes that had been on the market one week or less. What a crazy metric — over half of brand-new entrants to the market went under contract in less than seven days and yes, it’s correct that many of those received multiple offers!

I’m continuing to watch the numbers in Arlington go up week over week, and we’re close to eclipsing what we were doing this time last year in many metrics. The unsatisfied demand of buyers throughout the spring is about to explode! Add another new low in mortgage rates, now below 3% in many instances, and we’re heading into a very busy summer for Arlington.

Traditionally, things slow just a bit from the highs of the spring, but this year will be much different. Plans were put on hold during the pandemic, but as restrictions continue to ease, expect to see more real estate signs and open house visitors.

Consumer confidence is coming back quickly, though to be honest it barely left the Arlington housing market at all. Internet traffic, showings, mortgage applications and closings are all on the rise. If you’re considering selling a home, give me a call at (703) 203-1117 so we can position you in the best way possible for success in Arlington. The Andors Real Estate Group has almost three decades of experience in Arlington and has sold hundreds of millions worth of Arlington real estate. You can count on us to get the job done right, every time.

PICK OF THE WEEK — The Andors Real Estate Group is proud to have JUST LISTED 2655 S. Walter Reed Drive #C, Arlington, VA 22206 — $379,900. This secluded 2-bedroom condo is sited in a park-like setting backing to nothing but trees. Freshly painted top to bottom, brand new flooring throughout and new appliances — not to mention the wood-burning fireplace and large balcony — look no further because this one is move-in ready!

There are currently 288 homes for sale in Arlington, 10 more than last week. 135 are detached homes, 23 are townhouses/semi-detached, and 130 are condos. Average days on market (DOM) is 44 and median DOM is 30.

The median list price of currently available properties is $1,005,000, while the average is $1,155,840. Last year for the same week, sellers listed 72 homes and buyers ratified 64 contracts.

Click here to search currently available Arlington real estate. 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.

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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.

Another week of ramped up activity in Arlington!

Sellers are listing homes at a faster pace than buyers can ratify contracts despite strong showings, fantastic interest rates and beautiful weather. Buyers are still doing their part, with pending sales increasing for the past three weeks.

We’ve been hearing questions and concerns about local protests and how that may be impacting Arlington’s real estate market. We haven’t seen any direct impact on housing thus far but are closely watching current events as always.

Buyers — I encourage you to take a second look at properties that have been sitting on the market a little longer. Some of these are likely contemplating a price reduction and getting to them before that happens can spell huge opportunity. We’ve heard plenty of talk about how frequently price escalations occur — but they almost exclusively occur on newly listed homes, rarely on properties on the market for 2-3 weeks or longer.

There are currently 278 homes for sale in Arlington (256 last week). 137 are detached homes, 26 are townhouses/semi-detached, and 115 are condos.

Average days on market (DOM) is 41 and median DOM is 30. Average DOM dropped 19 days! This was helped by a number of properties going under contract that were listed many months ago as well as others being taken off market.

Sellers listed some 81 properties for sale this week. Buyers ratified 58 contracts, 30 of which were homes that had been on the market one week or less. Average DOM for ratified contracts this week was 16, and median 6!

The median list price of available properties is $1,087,000, while the average is $1,184,691. Last year for the same week, sellers listed 91 homes and buyers ratified 78 contracts. This was a huge drop last year from the previous week, and now we have the first time in many months that our 2020 activity is stronger than the 2019 data.

Click here to search currently available Arlington real estate. 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.

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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.

Activity certainly ramped up in Arlington this past week, with buyers ratifying 13 more contracts than the week prior.

Over the past two months our housing market has proved just how truly independently it can act from the rest of the country. Yes, our numbers have been lower than last year, and days on market have been creeping up. It’s also true that it’s about as hard to secure a house to buy in Arlington as ever before… but the prices are higher than they were last year!

Silver lining — interest rates are a half a point lower than this time last year, enough to overcome the price increase due to more buying power.

PICK OF THE WEEK — The Andors Real Estate Group is proud to have JUST LISTED 2717 S. Arlington Ridge Road, Arlington, VA 22202 — $850,000. Perched high on Arlington Ridge, this stately brick Cape Cod sits in a very private woodland-type yard. It features a gorgeous sunroom, great rear patio, screened-in porch and a great floor plan. It has an attached one-car garage, abundant storage, and is beaming with character — this is one you won’t want to miss!

There are currently 256 homes for sale in Arlington (225 this time last year). 138 are detached homes, 24 are townhouses/semi-detached and 94 are condos. Average days on market (DOM) is 60 and median DOM is 36.

Sellers listed some 62 properties for sale this week. Buyers ratified 56 contracts, 20 of which were homes that had been on the market one week or less. 19 of the ratified contracts were for properties over $1,000,000, so that price sector is still moving very well.

The median list price of available properties is $1,100,000, while the average is $1,205,482. Last year for the same week, sellers listed 45 homes and buyers ratified 44 contracts. This was a huge drop last year from the previous week, and now we have the first time in many months that our 2020 activity is stronger than the 2019 data.

Click here to search currently available Arlington real estate. 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.

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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.

Buyers, here’s the good news — mortgage rates have never been better!

The 30-year fixed has hit a new low, again breaking the record low that’s been established and reestablished numerous times over the past few months. Existing homeowners — you may be able to refinance with a 15-year mortgage close to 2.5% so this can probably save you serious money and you get to stay put!

As Northern Virginia begins to reopen, we’re seeing more and more in-person open houses scheduled, and expecting traffic to be way up in the coming weeks. The market only cooled slightly the past couple months in terms of volume — expect it to heat up faster than it cooled in coming weeks.

Some not-so-good news if you are a buyer — prices have remained remarkably steady!

Abundant speculation that prices would drop as a result of the pandemic has not rung true. There has indeed been an increase in instances of contracts falling through (previously a very rare occurrence in Arlington) and they were very largely due to financing issues. The housing market will always be a supply/demand equation and the years of pent-up demand in Arlington didn’t evaporate over the past couple months, despite global uncertainty.

Take a look below at some statistics for Arlington real estate — with this week’s slower numbers, we’ve crept up to 1.55 months of available inventory.

There are currently 267 homes for sale in Arlington. 143 are detached homes, 27 are townhouses/semi-detached, and 97 are condos. Average days on market (DOM) is 60 and median DOM is 34.

Sellers listed some 55 properties for sale this week. Buyers ratified 43 contracts, 23 of which were homes that had been on the market one week or less. The median list price of available properties is $1,155,000, while the average is $1,193,112.

Last year for the same week, sellers listed 81 homes and buyers ratified 71 contracts.

Click here to search currently available Arlington real estate. 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.

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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.

This week’s numbers don’t look like coronavirus numbers! Arlingtonian’s put 68 properties online this week — all of the buyers will be out in force this weekend trying to snatch them up.

Showings are way up in Arlington over the past couple weeks — I mentioned in late March and early April that we had seen a solid decline, but agents are reporting going on multiple tours per week. Additionally, many homes that sold this past week after less than 7 days on market received close to 20 showings in their first 3-4 days!

The higher price points in Arlington are also moving aggressively, with some builders pre-selling $2.4m homes before the old home is even torn down — talk about consumer confidence…

The Andors Real Estate Group is proud to have JUST LISTED 2320 N. Florida Street, Arlington, VA 22207 — $925,000. This stunning, expanded all-brick Arlington colonial is move-in ready with 3 beds, 2.5 baths and a stunning landscaped and hardscaped backyard. Featuring a unique upstairs family room leading to a rear facing balcony, you won’t want to miss this home!

There are currently 256 homes for sale in Arlington. 137 are detached homes, 25 are townhouses/semi-detached, and 94 are condos. Average days on market (DOM) is 57 and median DOM is 34.

Sellers listed some 68 properties for sale this week. Buyers ratified 63 contracts, 31 of which were homes that had been on the market one week or less. The median list price of available properties is $1,084,500, while the average is $1,185,375.

Last year for the same week, sellers listed 68 homes and buyers ratified 73 contracts. This is the closest we’ve been since the coronavirus outbreak took hold in Northern Virginia to last year’s numbers for the same week.

Click here to search currently available Arlington real estate. 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.

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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.

Buyers and sellers both did their parts this week; new listings and ratified contracts are up!

We’re still way behind the numbers from this time last year, but this is a healthy pace for Arlington. We’re hanging just above 1 month of inventory, still an extremely strong seller’s market.

About half of new homes in Arlington go under contract within the first week of marketing. Nearly 25% of the homes go under contract the second week. After that, the market has passed you by and days on market are extremely likely to continue accumulating without a substantial price reduction. The market is specifically interested in new properties.

While Northern Virginia is taking a delayed approach to resuming normal business practices in relation to COVID-19, that has not slowed house-hungry buyers. We may be right around the corner where inventory will start to drop again, as soon as Northern Virginia starts to lift restrictions. This will be an interesting and unprecedented thing to observe in the real estate market. I look forward to keeping you closely informed as to how we see that playing out in the coming weeks.

PICK OF THE WEEK — The Andors Real Estate Group is proud to have JUST LISTED 1211 20th Street S., Arlington, VA 22202 — $795,000. This is a bright, unique home nestled on an oversized 8,463 sq. ft. lot in a treehouse-type setting just off Arlington Ridge Road. It has abundant privacy with 1,510 sq. ft. of above grade space, including 3 bedrooms, 2 full baths, 2 fireplaces, refinished hardwood floors, and plenty of room to expand!

There are currently 247 homes for sale in Arlington. 129 are detached homes, 35 are townhouses/semi-detached, and 83 are condos. Average days on market (DOM) is 57 and median DOM is 37. Average is down 1 day, median held steady from last week.

Sellers listed some 60 properties for sale this week — 18 more than last week! Buyers ratified 47 contracts, 28 of which were homes that had been on the market one week or less. The median list price of available properties is $996,500, while the average is $1,161,394.

Last year for the same week, sellers listed 82 homes and buyers ratified 86 contracts which was a record at that point into the year!

Click here to search currently available Arlington real estate. 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.

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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.

Can spring happen in June? How about July?

Since Arlington sellers continue to postpone listing their homes, I’m predicting a delayed spring market in early summer. While some sellers will have made alternate arrangements, many have simply put off their moves temporarily and will resume their plans as soon as they feel they can. Those who have listed during the pandemic have certainly reaped the rewards we expect at this time of year, price escalations!

Over the past 30 days, properties that have settled in Arlington have done so for almost 101% of their asking price, netting sellers $7,000 more on average than they were asking.

Purchasers have been doing their part in Arlington over the past couple months despite COVID-19, scooping up approximately half of each week’s fresh new inventory within 7 days. The trend of historically low interest rates certainly bolsters their optimism in Arlington real estate as well.

As we start to see restrictions easing in our state, expect to see an uptick in real estate sales volume in lockstep. The flowers bloomed early this year, but we’re headed for a late spring market!

There are currently 235 homes for sale in Arlington. 119 are detached homes, 30 are townhouses/semi-detached, and 86 are condos. Average days on market (DOM) is 58 and median DOM is 37. Four weeks ago, median DOM was just 23 and average was 51.

Sellers listed some 42 properties for sale this week. Buyers ratified 39 contracts, 21 of which were homes that had been on the market one week or less.

The median list price of available properties is $999,000, while the average is $1,132,562. Last year for the same week, sellers listed 84 homes and buyers ratified 56 contracts.

Click here to search currently available Arlington real estate. 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.

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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.

Sellers — It’s time to list your home! Seriously, the buyers are still out there and continue to clamor for inventory.

The hottest price sector is still those below $1 million, but there is still excellent movement up to $1.5M. Condos continue to sell at the most aggressive pace due to their relative affordability when compared with single family properties.

Mortgage interest rates have dropped again and are now lower than the all-time lows of February and March. 30-year fixed is a flat 3% and we’re seeing some buyers lock in rates that begin with a 2…

We should talk about virtual showings for a moment. The vast majority of buyers will not buy a home they have not actually stepped foot in. Despite great technology making it easier to visualize the property without being there, most simply will not spend near $1M without visiting in person. I am seeing the properties offering only virtual showings sit on the market despite being priced properly. If you’re getting ready to sell, expect the buyers will want to come tour in person.

You’re probably inundated with national news, mostly mentioning how COVID-19 is negatively affecting markets, consumer spending is down, and home builders aren’t starting new projects. I’ve said it before, but I’ve got to say it again — that just isn’t our reality in Arlington! Lines at the coffee shop, Amazon delivery drivers on every block all day long, and showings piling up at fresh new inventory for Arlington listings is our continued normal.

PICK OF THE WEEK — The Andors Real Estate Group is proud to have JUST LISTED 923 N. Barton Street, Arlington, VA 22201 — $1,100,000! This awesome Lyon Park home sits on a 7,200 sq. ft. lot, backs to an alley with a detached 2-car garage and has space to grow! 4 bedrooms, 3.5 baths and 2,800 sq. ft. of finished space just blocks to Clarendon. Built 28 years ago, it has the generous proportions of a newer vintage home without the absurd price tag. Give me a call to arrange a private tour — (703) 203-1117.

There are currently 242 homes for sale in Arlington. 125 are detached homes, 26 are townhouses/semi-detached, and 91 are condos. Average days on market (DOM) is 56 and median DOM is 35. Median is creeping up a few days per week, while average is holding quite steady.

Sellers listed some 54 properties for sale this week, down from 60 last week. Buyers ratified 47 contracts, 26 of which were homes that had been on the market one week or less.

The median list price of available properties is $981,950, while the average is $1,126,855. Last year for the same week, sellers listed 67 homes and buyers ratified 65 contracts.

Click here to search currently available Arlington real estate. 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.

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