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’ve been enjoying this beautiful weather as much as I have!

Sellers put 75 homes on the market this past week, a bit of a pullback from the 91 homes last week. Buyers ratified 61 contracts this week, and 28 of those were on homes just listed within the past seven days.

This week, there are 363 available properties for sale, a decline of two from the week prior. There are just 67 single-family homes to choose from and only 28 townhouses/ semi-detached. Condos continue to make up a large majority of available inventory, with 268 available condominiums for sale.

This same week in 2020, sellers listed 67 homes and buyers ratified 53 contracts.

The average list price for currently available properties is $721,808, and the median is $495,000.

This week, The Andors Real Estate Group is proud to have JUST LISTED two great Arlington homes for sale. You can find us at both properties Saturday and Sunday from 1-4 p.m. for in-person open houses with appropriate COVID protocols in place.

2511 S. Grant Street, Arlington, VA 22202 — $1,045,000

Charming, expanded Tudor with amazing potential that’s perfectly situated at the corner of 26th and Grant Street on a private 6,612-square-foot corner lot. You’ll find a beautiful brick and slate patio, secluded outdoor hot tub and a separate in-law suite with bathroom, bedroom and kitchenette. This home boasts five bedrooms and five full bathrooms and has multiple sunrooms and spaces to flex as a home office, playroom, or other ways to customize to your needs.

827 25th Street S., Arlington, VA 22202 — $1,095,000

Deceptively spacious, this 5 BD/5.5 BA expanded and fully renovated Cape Cod is a hidden gem! Driveway parking, a flat 6,873-square-foot lot, main level master suite and a huge deck in the rear make this home check all the boxes. Enormous basement has two bedrooms, two bathrooms and a large kitchenette that might be used for income potential or a multigenerational space.

Click here to search currently available Arlington real estate. If you see a home 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 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.

Hello, Arlington! It’s a snow day as I write this (Thursday), and I am predicting it will be another one as you read this (Friday). Do not expect this to deter homebuyers, sellers or agents from transacting real estate sales and events this weekend…

With fewer and fewer single-family homes as well as townhouses/semi-detached available in Arlington, the median and average price for available homes is dropping. Condominiums make up such a large proportion of the available inventory (75.3%!) and tend to cost less than single-family/townhomes. This week, there are 365 available properties for sale, a decline of 11 from the week prior. There are just 67 single-family homes to choose from and only 23 townhouses/semi-detached.

For a bit of contrast, this week last year, we only had 157 active properties — total! Despite over double the inventory, demand is way up, and we’re moving along at a brisk pace.

Sellers put a whopping 91 homes on the market this past week, and buyers worked hard to grab them before the weekend open house rush, despite the snow. Seventy-three homes went under contract over the past seven days, and 33 of those were homes were just listed in the past week.

New builds can barely keep pace with the wealthier buyers in Arlington, frequently being taken under contract prior to the old house even being demolished. The price threshold keeps being pushed higher and higher, and many of these homes are now on million dollar lots. Yes, a builder in certain areas will pay over $1 million just to tear down what was there and can sell a $2.5 million (or more) home almost instantly.

Despite many longtime Arlingtonians’ hesitancy toward new construction, it plays a vital role for the county. First, they generate substantially more tax revenue than older homes, often times doubling or more the revenue from that same lot. Additionally, a lot of them are being built by local builders who either reside in Arlington, employ a workforce based in Arlington or have other close ties to our community. Because we do not have many large tracts of land available for big, multi-state production builders to develop, this keeps the new construction quality much higher as well. It also raises the value overall of Arlington real estate because of the relationship each property has to another. Put simply, as the top end of the market stretches higher and higher, it’s bringing the bottom up with it.

One downside, of course, is the rising property tax bills we all pay as home values continue upward.

This same week in 2020, sellers listed 68 homes and buyers ratified 53 contracts, so we’re way ahead of the 2020 pace, still pre-pandemic at this point…

The average list price for currently available properties is $718,508 and the median is $459,700.

Click here to search currently available Arlington real estate. If you see a home 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 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.

Good morning, Arlington!

The continued winter weather doesn’t deter the ravenous buyers of their Arlington real estate dreams… Their appetite has built up for quite some time, and they aren’t waiting until spring.

Surprise, surprise? Buyers outpaced sellers again this week with 72 ratified contracts while sellers listed some 64 properties for sale. Of the ratified contracts, 30 were on homes listed within the past seven days.

This same week in 2020, sellers listed 62 homes and buyers ratified 59 contracts.

There are 376 properties currently available for sale in Arlington — just two more than last week. Of those, 77 are single family properties, 22 are townhouses/semi-detached properties and 277 are condos.

The average list price for currently available properties is $739,029 and the median is $475,000.

Pick of the Week1136 S. Edison Street, Arlington, VA 22204 — $715,000

You can find me this Saturday, Feb. 13, 1-4 p.m. at this adorable, charming Arlington colonial. With three bedrooms and two full bathrooms, this home is move-in ready and won’t last long. Lovingly cared for and completely renovated, there is little left to do other than pick where to put your furniture. A great backyard with patio and privacy and driveway parking for two cars complete this Just Listed home.

Click here to search currently available Arlington real estate. If you see a home 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 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.

Hello, Arlington!

As I write this, always the day before you read it, I celebrate my ## birthday (Feb. 4)! I won’t tell you how old I am, but I’m old enough to have three kids, a loving wife, a successful and meaningful business, and plenty more to be thankful for.

This past year has been one to remember (or forget), but it’s hard to believe I’ve been writing this column for a whole year already. Having grown up here in Arlington and attended school in the county, I’ve spent many of my birthdays here, and it’s been such a great place to call home. I also love working here and being engaged in this wonderful community and am glad to have all of you as weekly readers of JUST LISTED.

The market just flipped, and buyers finally ratified more contracts this past week then sellers listed homes! The buyers outpaced sellers with 72 contracts while sellers listed some 67 new homes this week — 28 of the ratified contracts were on homes listed within the past seven days.

This is the type of activity we expect in the spring, and spring has started early! If the snow didn’t deter the buyers, I don’t know what will. Interest rates are hovering near all-time lows, but there’s a good chance they break above 3% this year. For now, they are hovering at about 2.7% for a fixed-rate 30-year mortgage.

This same week in 2020, sellers listed 64 homes and buyers ratified 41 contracts. Where we really see the contrast from this year to last year is available inventory. Fifty-two weeks ago, we had 161 active listings, and this week we have more than double, at 374 — 75 are single family properties, 24 are townhouses/semi-detached properties and 275 are condos.

The average list price for currently available properties is $757,714 and the median is $509,945.

Click here to search currently available Arlington real estate. If you see a home 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 I think you might like to check out:

Just Listed: 1811 N. Lincoln Street
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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.

Good morning, Arlington!

We are rocking and rolling here in Arlington, and it’s starting to feel like spring already. Well, OK, not the temperature outside, but the temperature of the real estate market is way, way up these past few weeks!

We live in a bubble in Arlington, but the bubble is expanding. Insane market conditions are stretching as far west as Ashburn, where properties are selling before hitting the market — for way above asking price. A recent example is a townhome listed by my brokerage that sold for 8% over list price without a single buyer stepping foot in the property. No contingencies — just a fast closing and much more for the seller than they were anticipating.

Northern Virginia is hot, hot, hot, and if you’re thinking about selling your home, call The Andors Real Estate Group of Keller Williams Realty! We can position you to maximize the sale and walk away with more money.

We saw 75 new listings come online this week in Arlington. Buyers worked hard to keep pace with sellers, ratifying 64 contracts, 27 of which were on homes listed just within the past seven days.

Arlington inventory went up a bit, we now have 388 properties available, up from 375 last week. Of those, 84 are single family homes, 29 are town houses/semi-detached and 275 are condos.

The average list price for currently available properties is $761,516 and the median is $510,000.

Click here to search currently available Arlington real estate. If you see a home 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 I think you might like to check out:

Just Listed: 1120 19th Street S.
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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.

Good morning Arlington!

It was quite a week for ratified contracts in Arlington, with 72 buyers finding a new place to call home in just the past seven days — 24 of those were on homes listed within the past week. Sellers are doing their part, listing 62 homes for sale. So far, demand is definitely outpacing supply for 2021, as we anticipated.

We’re down to just 375 homes of all different types, shapes and sizes currently available for sale, down 22 from the previous week. Of the currently available homes, 83 are single-family properties, 28 are townhomes/semi-detached and 264 are condos.

The average list price for currently available properties is $740,899 and the median is $515,000.

The Andors Real Estate Group has been fielding a lot of questions recently from prospective purchasers and home sellers alike. One question I’ve heard a few times that I want to bring up here in today’s column is not a new one…

“Why is inventory so tight?”

Well, like all good questions, it has many answers. The simplest version is that homeowners are staying put for one reason or another.

A more elaborated answer has to do with at least three factors: interest rates, life in general and property availability.

  1. Market conditions are bringing buyers into the market in high numbers. Low interest rates continue to bring many would-be renters into the market for a new purchase, and it has fueled the highest-ever purchasing power across all buyers, probably most noticed by first-time buyers. First-timers are able to buy enough home to potentially skip the small condo and jump straight to a townhome or even a single-family property. Perhaps this is an additional factor to take into consideration when figuring out why condo inventory is so high.
  2. The desire or need for more space, fueled by pandemic-related needs: changes such as work from home or school closures have had an outsized impact over the past year. But even with the pandemic, regular life continues — the typical family/job/life events we all experience from time to time are also making people move, as per usual.
  3. Lastly — and this is not going to be nearly as big a story in Arlington as it will in many other parts of the country, but it’s worth mentioning, nonetheless — the moratorium on evictions and foreclosures (enacted under the previous administration and just extended by the new administration through March 31) means the negative side of this pandemic economy has yet to be felt in local housing markets. This is further tightening supply that otherwise would have been freed up in previous recession-like economic cycles, where evictions, foreclosures and then subsequent sale of these properties is pushed out indefinitely. Owners staying in place or choosing to hold their property as an investment when moving also lends to decreased resale availability, a popular option in Arlington, increased in the post-Amazon announcement era.

Rents are decreasing. According to a recent ARLnow article, rents have dropped by nearly 15% in Arlington since March. This is something to watch for; I suspect some landlords will see this as an ideal time to consider selling, possibly freeing up some long-lost inventory in the not-too-distant future. If an income-generating asset like a home stops generating, investors will look to other areas to generate revenue. Houses aren’t generally considered to be very liquid investments… unless you own a home in Arlington, where it can take one day to market/go under contract and as little as two weeks to settle.

Click here to search currently available Arlington real estate. If you see a home 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 I think you might like to check out:

6629 Williamsburg Boulevard
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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.

Inventory continues to decline in Arlington, bolstered by strong buyer demand through the second week of January. With just 397 total available properties, we haven’t been this strapped for homes since early August 2020. Ninety of these are single family, 37 are townhouses/semi-detached and 270 are condos. Condo inventory is down 100 from the week of November 22, when it peaked at 370 available units.

Arlington sellers listed some 55 homes this past week, up from 49 the week prior. Buyers really did their part, virtually keeping pace with 54 contracts ratified, 22 of which were homes on the market seven days or less. Last week we had 42 ratified contracts.

Mortgage rates just ticked up about one-eighth of a point in the past week — still historically low but perhaps indicative of a trend upward. We haven’t seen this large of a move in a one-week increment since last March, when Covid-19 and associated lockdown measures were threatening the liquidity of capital. It’s still an amazing time to refinance an existing loan, invest in more real estate to lock in a low fixed payment, or buy a new home for your family.

Currently available homes across all property types have an average list price of $754,824 and median of $544,500.

Pick of the Week: 1745 S. Hayes Street #2, Arlington, VA 22202 — $635,000

Southampton is one of the most conveniently located townhome developments in Arlington. Walk across the street to Pentagon City and Metro or to Costco, or take a short stroll to Amazon’s HQ2. This 3 BD/2.5 BA two-level townhome has assigned parking at the front door and is 1,400 square feet plus has a large covered balcony. Find me here on Sunday, from 1-4 p.m. for the in-person open house, or call me at 703-203-1117 to make arrangements to tour privately.

Click here to search currently available Arlington real estate. If you see a home 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 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.

Good morning Arlingtonians, and Happy New Year!

I’m excited about the housing market in 2021, and I know we’re going to have a fast-paced, inventory-starved, low-interest-rate-driven frenzy for homes across all price points.

We got some very big and interesting news from Amazon yesterday. A $2 billion commitment to preserve and create over 20,000 affordable homes in the locales where Amazon has a presence will go a long way to combat the impacts many are concerned will result from Amazon sharing our wonderful Arlington community. This fund will not only be in Arlington, but also in the Puget Sound region of Washington and the Nashville area as well.

Crystal House was recently purchased to provide affordable housing, creating close to 1,300 affordable units over time. Without this investment, it would have likely been converted to luxurious condos with huge price tags because of the incredible proximity to D.C. and National Landing. Additional money will be available at below-market borrowing rates to those earning below $79,600 in the D.C. region.

You can read more in the press release from Amazon.

Arlington is getting off to a quick start in 2021 with plenty of new homes coming online, ratified contracts keeping pace and a substantially shrunk (20% less) inventory than where we left off in 2020.

We’re going to see more price escalations than ever before in 2021. Waived contingencies, cash purchases and heavy showing traffic will be a main part of the story… but wait, James, that sounds like last year, and the year before that…

Yes — the frenzy for a piece of the pie will continue, with an emphasis on single family detached homes and new construction.

For this first week of January, sellers have listed 49 homes for sale, and purchasers ratified 42 contracts, seven of which were on homes listed within the past seven days.

Available inventory across the county for all property types is 404, 90 of which are single-family, 39 are townhouses/semi-detached properties and 275 are condos. It was just a few weeks ago that I wrote about condo inventory being up to 370!

Currently available homes across all property types have an average list price of $753,142 and a median of $549,950.

A quick note about mortgage rates: We’re at the lowest ever this week, a 2.65% average for a 30-year fixed rate mortgage. That’s 1.10% lower than where we started in 2020!

Now, for the Pick of the Week: 1515 S. Arlington Ridge Road, #504, Arlington, VA 22202 — $399,000

Perched high on Arlington Ridge, overlooking Washington D.C. with a Washington Monument view from a private balcony, this condo enjoys unparalleled convenience to Arlington and D.C. This 892-square-foot 1 BD/1 BA condo has plenty of room to work from home, comes with a separate storage room, underground parking space and has a private pool, gym and community room.

Find me, in person, hosting this lovely condo open from 1-4 p.m. this Sunday, January 10.

Click here to search currently available Arlington real estate. If you see a home 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 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.

Wow — Arlington available inventory contracted 9% in just one week. That means we have the lowest available inventory in Arlington in 13 weeks. There are 467 available properties for sale in Arlington.

If you want a single-family home, you’ve got the least amount to choose from in at least six months. With just 106 on the market, the demand continues to be unparalleled. Condos — well, that inventory, which had exploded throughout the year, is down by 15% in the past four weeks. Townhomes/semi-detached properties make up 47 of the available properties this week.

Days on market (DOM) continue to creep up, but there is more to that story. The average for currently available homes is 73 while the median is 56. Take a look at the numbers for properties that went under contract this week, and there’s a stark contrast. The average for those just put under contract is 36, and the median just 15.

This week, sellers listed 31 homes and buyers ratified 46 contracts. 10 of those contracts were on homes listed within the past week. Last year for the same week, sellers listed 33 homes and buyers ratified 44 contracts.

The median list price of currently available inventory in Arlington is $525,000 and the average is $746,790.

This week last year, Realtor.com made some predictions about what the 2020 market would look like. While they couldn’t have predicted the economic upheavals surrounding COVID-19, our local market outperformed their estimates, as did the nation as a whole. Realtor.com predicted median home prices would rise less than 1%, but they’ve risen more than 15% since last year. They also predicted we would have about 2% fewer existing home sales, but, in fact, we’ve had over a 26% increase.

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 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.

Hello, Arlingtonians!

We’re still slow for the winter, but as anticipated, things picked back up from last week. Expect one more week of decent activity before things slow until the new year. The most seasonal part of our market is the holidays, but other than that, expect full speed ahead come early January.

Right now, sellers are strategizing with local Realtors on how to take advantage of 2021… Pro tip: Get ready to list early, before the “snow” melts, before the grass is green and before the weather warms. As sellers, this is your opportunity to compete against the fewest sellers, because the buyers are already out there. Call me at 7030203-1117 to put together a custom plan to get you top dollar in our market. Your home has never been worth more!

Now for the numbers…

This past week in Arlington, sellers listed some 47 properties for sale while buyers ratified 41 contracts; 16 of the ratified contracts were on homes listed just within the past week. Last week, only four of new homes were ratified within a week.

There are currently 512 homes for sale in Arlington, six less than last week. Of those listed, 118 are detached homes, 59 are townhouses/semi-detached and 335 are condos.

Average days on market (DOM) for currently available homes is 67 and median DOM is 52. These keep creeping up as fewer new listings come on to weigh down the average. Unless a big chunk of the holdover inventory is absorbed in the coming weeks, we’ll probably see these go up week over week until mid-January.

The median list price of currently available properties is $549,450, while the average is $751,175.

Last year for the same week, sellers listed about 36 homes and buyers ratified 26 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:

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