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!
The inventory run-up continues, with another very strong week of new listings in the books.
After two weeks of declines in the interest rates, half of those have been given up as the average 30-year fixed rate mortgage went from 5.3% to 5.51%. Buyers really did take note last week and it showed up in an increase in the number of ratified contracts.
As of right now, in Arlington, there are 451 residential properties available across all property types, 19 more than last week. Of those 451, 145 are detached properties, 68 are town homes/semi-detached properties, and the remaining 238 are condominiums.
This past week, sellers listed 94 homes for sale, an increase of 32, while buyers ratified 50 contracts. 24 of the ratified contracts were on homes just listed within the past seven days.
Average asking price of currently available homes is $883,895 and the median is $685,000. Currently available homes have been on the market for an average of 45 days and a median of 30 days.
This week last year, rates were sitting at 2.88%, sellers has listed 100 homes for sale and buyers ratified 68 contracts. There was a total of 550 properties for sale!
Pick Of The Week — The Andors Real Estate Group is proud to have JUST LISTED 2013 S. Lynn Street, Arlington, VA 22202 — $1,395,000.
Welcome home to this stunning Arlington Colonial tucked into one of the quietest parts of Addison Heights with views from Arlington Ridge down to Amazon HQ2 and the Crystal City skyline. Beautifully maintained, including a home magazine worthy owners suite spa-like bathroom, this four bedroom, three full and one half bathroom home boasts nearly 3,400sf of finished living space. Private rear decks and a tranquil backyard, one-car attached garage, soaring ceilings and gorgeous hardwood floors, this home does not disappoint!
Find me here THIS SATURDAY from 1-4 p.m. for a public open house to see this gorgeous home and take in the views!
Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!
Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out.
- 2016 N. Adams Street #812, Arlington, VA 22201 — $324,990
- 1276 N. Wayne Street #1221, Arlington, VA 22201 — $650,000
- 5808 3rd Street S., Arlington, VA 22204 — $795,000
- 1805 Crystal Drive #509S, Arlington, VA 22202 — $799,900
- 1823 16th Street N., Arlington, VA 22209 — $1,329,000
- 2013 S. Lynn Street, Arlington, VA 22202 — $1,395,000
- 4822 Yorktown Boulevard, Arlington, VA 22207 — $1,695,000
- 1126 17th Street S., Arlington, VA 22202 — $2,399,000
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.
Hey there Arlington, and a delayed Happy Fourth of July!
Big news! Interest rates have fallen for a second week in a row, down from a peak of 5.81% (the highest since late 2008) and are now sitting at 5.30% over the past week. This is going to be a serious, and possibly temporary reprieve for purchasers.
Inventory continues to build in Arlington and the surrounding metropolitan area, while demand tapers. In Arlington, there are 432 residential properties available across all property types. Of those 432, 150 are detached properties, 58 are town homes/semi-detached properties and the remaining 224 are condominiums.
Take note — the condo market is actually a bit hotter than the detached/semi-detached market at the moment — this is directly attributable to interest rates making lower priced properties more attainable and appealing to those who don’t need the larger homes. We’ve seen condo inventory contract for the past month, despite plenty of new inventory coming online.
This past week, sellers listed 62 homes for sale, while buyers ratified just 35 contracts. Only seven of the ratified contracts were on homes just listed within the past seven days.
Average asking price of currently available homes is $904,661 and the median is $707,400. Currently available homes have been on the market for an average of 44 days and a median of 29 days.
This week last year, rates were sitting at 2.88%, sellers has listed 88 homes for sale and buyers ratified 54 contracts. There was a total of 540 properties for sale!
Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!
Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might like to check out.
- 1725 Queens Lane #112, Arlington, VA 22201 — $415,000
- 46 N. Bedford Street #46B, Arlington, VA 22201 — $549,900
- 1018 S. Rolfe Street, Arlington, VA 22204 — $940,000
- 1411 Key Boulevard #403, Arlington, VA 22209 — $945,000
- 814 S. Oakland Street, Arlington, VA 22204 — $1,000,000
- 5713 11th Street N., Arlington, VA 22205 — $1,000,000
- 2911 22nd Street N., Arlington, VA 22201 — $1,100,000
- 1220 N. Danville Street, Arlington, VA 22201 — $1,325,000
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, thanks for being a JUST LISTED weekly reader!
The inventory surge continues for a 12th straight week… and ratified contracts are down. While there’s still plenty of activity, some multiple offer scenarios, etc, the market is cooling, and fast.
Interest rates pretty much hovered, up just 3 basis points for an average of 5.81% over the past week.
Of the 415 currently available homes for sale (four more than last week), 139 are detached properties, 51 are town homes/semi-detached properties, and the remaining 225 are condominiums.
This past week, sellers listed 79 homes for sale, a decrease of four from the week prior, while buyers ratified 57 contracts, an increase of three. 22 of the ratified contracts were on homes just listed within the past seven days.
Average asking price of currently available homes is $922,736 and the median is $699,000. Currently available homes have been on the market for an average of 43 days and a median of 23 days.
This week last year, rates were sitting at 3.02%, sellers has listed 79 homes for sale and buyers ratified 65 contracts. There was a total of 537 properties for sale!
Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!
Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out.
- 2500 S. Walter Reed Drive #E, Arlington, VA 22206 — $699,900
- 1805 Crystal Drive #409S, Arlington, VA 22202 — $749,999
- 2918 S. Buchanan Street #B2, Arlington, VA 22206 — $430,000
- 2330 N. Jackson Street, Arlington, VA 22201 — $999,000
- 1881 N. Nash Street #907, Arlington, VA 22209 — $955,000
- 3110 N. Thomas Street, Arlington, VA 22207 — $1,795,000
- 24 S. Abingdon Street, Arlington, VA 22204 — $840,000
- 1221 N. George Mason Drive, Arlington, VA 22205 — $1,199,000
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 welcome to JUST LISTED!
Interest rates just ROCKETED upward by over .50% to their highest point since 2008 — currently sitting at an average of 5.78%. This increase is the largest single week jump, per Freddie Mac, since they started tracking this in 1987. It’s hard for me to stress just how significant this is going to be, and it really will impact our market going forward. House affordability is dropping like a rock, and this is going to rapidly decrease buyer sentiment in the marketplace. What’s more, interest rates will keep rising as the Fed works to fight their inflationary environment.
We’re now on an 11-week run for inventory increasing, and I don’t see that stopping anytime soon. With 411 properties to choose from throughout the county, inventory has increased over 58% in the past 16 weeks! Of the 411 currently available homes for sale, 132 are detached properties, 48 are town homes/semi-detached properties, and the remaining 231 are condominiums.
This past week, sellers listed 83 homes for sale, and decrease of 20 from the week prior, while buyers ratified 66 contracts, an increase of three. 19 of the ratified contracts were on homes just listed within the past seven days.
Average asking price of currently available homes is $926,201 and the median is $652,000. Currently available homes have been on the market for an average of 41 days and a median of 24 days.
This week last year, rates were sitting at 2.93%, sellers has listed 97 homes for sale and buyers ratified 94 contracts. There was a total of 533 properties for sale!
Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!
Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out.
- 205 N. Trenton Street, Arlington, VA 22203 — $235,000
- 4500 28th Road S. #D, Arlington, VA 22206 — $425,000
- 4108 21st Road N., Arlington, VA 22207 — $850,000
- 1805 28th Street S., Arlington, VA 22202 — $925,000
- 2216 N. Lincoln Street, Arlington, VA 22207 — $1,169,900
- 3215 19th Road N., Arlington, VA 22201 — $1,295,000
- 5523 22nd Street N., Arlington, VA 22205 — $1,350,000
- 5908 35th Street N., Arlington, VA 22207 — $2,250,000
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 this week’s JUST LISTED column!
For 10 weeks in a row, inventory has been on the rise, giving buyers more to choose from and causing sellers to stress out as the market continues to change. Additionally, after three weeks of mortgage rate declines, the 30-year fixed rate mortgage average increased 1/8 of a point, to an average of 5.23% over the past week.
As we approach 400 properties available throughout the county, it’s worth mentioning that inventory has risen 40% in the past 15 weeks, and yet we’re still way short of where we were this time last year.
There are 396 properties available for sale in Arlington as of today, an increase of 22 properties. 132 of these are detached homes, 43 are semi-detached/town homes, and the remaining 221 are condominiums.
This past week, sellers listed 103 homes for sale, an increase of 29 more from the week prior, while buyers ratified 63 contracts, an increase of 11. 31 of the ratified contracts were on homes just listed within the past seven days! Average asking price of currently available homes is $936,049 and the median is $675,000. Currently available homes have been on the market for an average of 43 days and a median of 22 days.
COMPARISON — there is a tremendous difference between properties FOR SALE and properties UNDER CONTRACT when it comes to what their statistics look like! Currently UNDER CONTRACT homes took a median of seven days and an average of 30 days to go UNDER CONTRACT. The median tells the story, and those that go under contract do so in 1/3 of the time!
This week last year, rates were sitting at 2.96%, sellers has listed 125 homes for sale and buyers ratified 107 contracts. There was a total of 544 properties for sale!
Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!
Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out.
- 1425 N. Nash Street #12 NG-3, Arlington, VA 22209 — $345,000
- 1211 S. Eads Street #811, Arlington, VA 22202 — $400,000
- 4118 36th Street S. #A1, Arlington, VA 22206 — $524,900
- 3409 Wilson Boulevard #511, Arlington, VA 22201 — $729,900
- 4026 7th Street S., Arlington, VA 22204 — $865,000
- 6219 22nd Road N., Arlington, VA 22205 — $1,095,000
- 5031 33rd Street N., Arlington, VA 22207 — $1,220,000
- 2415 N. Woodrow Street, Arlington, VA 22207 — $1,795,000
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, welcome to Just Listed and as always, thanks for reading!
Inventory has continued to rise, we’re now on a nine-week run, up about 33% in that timeframe!
Mortgage rates technically declined, sitting at 5.09% for a 30-year fixed rate mortgage. Three weeks in a row of declines continues to bring a bit of reprieve for buyers, but these rates have simultaneously pushed many out of the market. I spoke with a couple lenders yesterday who told me they are able to quote well qualified purchasers just under the 5% mark as of the past few days.
Arlington is up to 374 pieces of currently available inventory throughout the county; this includes all property types that are fully available for sale, up from 360 last week. 121 of those are detached homes, 42 are semi-detached/town homes, and the remaining 211 are condominiums.
This past week, sellers listed 74 homes for sale while buyers ratified 52 contracts, 16 of which were on homes just listed within the past seven days.
Average asking price of currently available homes is $922,578 and the median is $650,999. Currently available homes have been on the market for an average of 43 days and a median of 22 days.
PICK OF THE WEEK — 836 31st Street S., Arlington, VA 22202 — $875,000
Welcome home to this private three-bedroom, two-bathroom home situated on a private 6,011sf lot! You’ll love the quartz countertops in the kitchen, recently renovated bathrooms, and an easy, open floor plan. Driveway parking for up to four cars, a private backyard with two large decks and plenty of room for growing veggies! Freshly refinished hardwood floors on the main level, lower level has brand new carpeting, freshly painted throughout and entirely move-in ready.
Find me here this Saturday from 1-4 p.m. for a public open house.
This week last year, rates were sitting at 2.99%, sellers has listed 110 homes for sale and buyers ratified 66 contracts. There was a total of 543 properties for sale!
Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!
Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out.
- 1205 N. Garfield Street #501, Arlington, VA 22201 — $510,000
- 4843 28th Street S. #B, Arlington, VA 22206 — $528,900
- 4113 33rd Street S., Arlington, VA 22206 — $599,900
- 836 31st Street S., Arlington, VA 22202 — $875,000
- 6117 22nd Street S., Arlington, VA 22205 — $1,295,000
- 1308 21st Street S., Arlington, VA 22202 — $1,395,000
- 4019 N. Chesterbrook Road, Arlington, VA 22207 — $1,450,000
- 3163 17th Street N., Arlington, VA 22201 — $1,890,000
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, thanks for reading JUST LISTED this morning!
Apologies that I did not post last week — I was quite under the weather but am now fully recovered!
Inventory has really shot up over the past two weeks in Arlington — summer is officially here…
Mortgage interest rates have now declined for two consecutive weeks, down to 5.1% from 5.3% two weeks ago. This is a bit of a reprieve from those who are still in the market, plus the increase in inventory will make some happy buyers out there!
We now have 360 available properties for sale, up from just 301 two weeks ago. 114 of those are detached homes, 40 are semi-detached/town homes, and the remaining 206 are condominiums. This past week, sellers listed 91 homes for sale while buyers ratified 66 contracts, 37 of which were on homes just listed within the past seven days.
Average asking price of currently available homes is $906,548 and the median is $629,000. Currently available homes have been on the market for an average of 44 days and a median of 22 days.
PICK OF THE WEEK — 2231 N. Columbus Street, Arlington, VA 22207 — $1,075,000.
Welcome to this beautiful, expanded Arlington Colonial featuring four bedrooms, two full and one half bathrooms and over 2,000sf of finished living space. A fantastic rear addition created a wonderful living/entertaining floorplan with a wide-open kitchen overlooking the family room including vaulted ceilings and exposed brick walls. A serene backyard with meticulous landscaping is great for everyday living and entertaining alike.
Find me and my team here from 1-4 p.m. both Saturday and Sunday!
Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate – our agents routinely outmaneuver others when it comes to multiple offer scenarios – call us to find out how!
Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out.
- 414 N. Thomas Street, Arlington, VA 22203 — $914,900
- 1215 N. Dinwiddie Street, Arlington, VA 22205 — $949,900
- 2231 N. Columbus Street, Arlington, VA 22207 — $1,075,000
- 6301 11th Road N., Arlington, VA 22205 — $1,090,000
- 1411 Key Boulevard #311, Arlington, VA 22209 — $1,095,000
- 6408 27th Street N., Arlington, VA 22207 — $1,250,000
- 5055 26th Road N., Arlington, VA 22207 — $1,299,900
- 4509 39th Street N., Arlington, VA 22207 — $4,700,000
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! Welcome to Just Listed!
SURPRISE — rates rose again, and now average 5.3% during the past week. Expect this to continue — buyers, it’s time to lock in your payment for your new home before rates keep rising…
The market is cooling nationally, and despite the resilience we all appreciate in the Arlington marketplace, it is happening here too. I’m starting to see price reductions and days on market creeping upward. This historic inventory shortage will slowly but surely head in the direction of a more balanced marketplace, but I’d be guessing if I told you I thought it would balance out. That’s highly unlikely, for now. What will happen is buyers will get the ability to retain home inspection and financing/appraisal contingencies in their offers — a much needed reprieve in itself.
New listings took a breather this past week; sellers listed just 99 over the past seven days, a reduction of 23 from the week prior. Buyers ratified 82 contracts, a reduction of eight from the previous week. Of the 82 ratified contracts, 45 of those were on homes that spent seven days or less on the market!
Right now, in Arlington, there are 301 properties fully available for sale, three less than last week. Of those 301, 80 are detached properties, 33 are town homes/semi-detached properties, and 188 are condominiums.
The average sales price for currently available homes in Arlington is $846,450 and the median is $600,000. Days on market has ticked up just a bit, with the average sitting at 48 days and the median at 29 days. Median days on market is now up a by seven days, or 33%, in just the past three weeks — make no mistake this represents the start of a significant slowdown in overall activity!
This week last year, sellers had listed 116 homes for sale and purchasers ratified 73 contracts. There were 477 homes for sale. Interest rates averaged just 2.94% — wow!
Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!
Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out.
- 5565 Columbia Pike #706, Arlington, VA 22204 — $199,000
- 1800 Wilson Boulevard #108, Arlington, VA 22201 — $470,000
- 3493 S. Utah Street, Arlington, VA 22206 — $599,900
- 3305 Kemper Road, Arlington, VA 22206 — $859,500
- 5710 25th Road N., Arlington, VA 22207 — $1,025,000
- 2505 4th Street N., Arlington, VA 22201 — $1,269,900
- 810 N. Daniel Street, Arlington, VA 22201 — $1,700,000
- 6601 31st Street N., Arlington, VA 22213 — $2,549,000
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, as always, I appreciate you tuning into Just Listed to start your Friday morning well informed on all things Arlington real estate!
Interest rates rose again (and this data largely does not reflect what has happened since Wednesday when the fed raised their benchmark rate 50 basis points). According to Freddie Mac, interest rates averaged 5.27%, the highest since 2009. Freddie predicts that house prices continue to rise this year, but at a much slower pace, and I concur. Despite strong demand both nationally and locally, enough of the marketplace will be priced out through higher monthly payments (because of rates) and that will slow growth — in fact, it already has!
I just read that Boeing is moving their headquarters from Chicago to Arlington! This is just the latest story in the continued growth and trajectory for Arlington as a whole, and you can chalk that up to another reason we’ll be resilient should an economic downturn materialize, both in the short term and the long term.
Real estate continues to feel turbulent in Arlington, but on paper it continues to crank! While showings, open house visitors and offers are still down from earlier in the year, ratified contracts are working feverishly to compete with an influx of new inventory, showing Arlington buyers aren’t too concerned with 5+% interest rates.
Over the past seven days in Arlington, sellers have listed some 122 homes for sale while buyers ratified 90 contracts! Of the 90 ratified contracts, 55 of those were on homes that spend seven days or less on the market! Last week sellers listed 128 homes and buyers ratified 99 contracts.
Right now, in Arlington, there are 304 properties fully available for sale. Of those 304, 91 are detached properties, 28 are town homes/semi-detached properties, and 185 are condominiums.
The average sales price for currently available homes in Arlington is $864,024 and the median is $625,000. Days on market has ticked up just a bit, with the average sitting at 45 days and the median at 25 days. This is exactly what I predicted would start to happen, and while 3 days more on market (median) doesn’t seem significant, it represents about a 13.5% increase in just one week!
This week last year, sellers had listed 99 homes for sale and purchasers ratified 82 contracts. There were 452 homes for sale, meaning we have 48.7% less inventory to choose from this year. Interest rates averaged just 2.96% — wow!
Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!
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 — let me know what you think!
- 3411 S. Stafford Street, Arlington, VA 22206 — $525,000
- 4653 2nd Street S., Arlington, VA 22204 — $770,000
- 837 31st Street S., Arlington, VA 22202 — $975,000
- 7024 Williamsburg Boulevard, Arlington, VA 22213 — $1,037,000
- 5722 4th Street N., Arlington, VA 22205 — $1,099,000
- 2907 N. Greencastle Street, Arlington, VA 22207 — $1,175,000
- 5011 14th Street N., Arlington, VA 22205 — $1,198,000
- 3081 N. Quincy Street, Arlington, VA 22207 — $1,899,900
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.
Hey there Arlington!
Good news — mortgage rates STAYED THE SAME! So, they’re settling in over 5%, for now… At least we stopped going up, for now!
This will be a quick column as I am finding myself stretched for time this week…
The market seems to have hummed along very well this week — most metrics I track are up and that’s a relief. As with anything, it could just be a blip or maybe we blame it on the weather. Either way, it’s a market, and clearly it’s highly dynamic and always subject to change. Here’s the data for the week — take a look and let me know what you think!
At this moment in time, there are 303 properties available for sale in Arlington, eight more than last week. Sellers listed 128 homes for sale, 46 more than last week! Ratified contracts are up 40 from last week with 99 contracts in the past seven days. A whopping 59 of those were homes listed just within the past seven days.
Of the 303 homes currently available for sale, 87 are detached homes, 32 are semi-detached/townhomes, and the remaining 184 are condominiums. These properties range in price from $100,000 all the way up to $7,950,000.
Average list price for currently available homes is $867,185, and the median price is $625,000. These homes have been on the market for an average of 46 DOM (days on market) and a median of 22. This week last year, there were 434 homes available for sale throughout the county. Sellers had listed 132 homes for sale and buyers ratified 109 contracts.
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.
- 4229 16th Street S., Arlington, VA 22204 — $749,900
- 1727 S. Pollard Street, Arlington, VA 22204 — $750,000
- 929 19th Street S., Arlington, VA 22202 — $849,900
- 5315 26th Street N., Arlington, VA 22207 — $1,198,000
- 4307 23rd Road N., Arlington, VA 22207 — $1,249,000
- 4415 16th Street N., Arlington, VA 22207 — $1,295,000
- 114 N. Edgewood Street, Arlington, VA 22201 — $1,335,000
- 4501 38th Street N., Arlington, VA 22207 — $1,995,000
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 welcome to Just Listed!
Mortgage rates climb yet again, the seventh week in a row. Rates averaged 5.11% over this past week as the 10-year treasury rapidly approaches 3%. The Fed just signaled they will raise their target rate by 50 basis points in May and that may not be the only one. Unfortunately, they are tamping down on housing demand but not on inflation through these moves.
I am witnessing a slowdown in Arlington real estate. I tell it like it is — what I see, what I feel and what I think. I’ve been debating my colleagues on this for the past few weeks, and I am adamant that is what is happening, at least in the short term.
Not all local markets will experience this, or not at the same time, or perhaps more or less severely, but often what happens is that things originate in D.C. and the hyper-local Northern Virginia region and extend outward in waves or ripples. We are insulated here in Arlington, but you only need to go out 10, 15 or 20 miles before those ripples accelerate and increase in size.
What does this mean? Well first, it means that houses that might have gotten 10 offers just a couple months ago may only get 2-4 offers. Doesn’t sound so bad you say? Well, sure, but houses that might have only gotten one offer may not get any, and mindsets are the hardest to break. Sellers will be expecting their home to sell for $100,000 over ask, and could be in for serious disappointment when instead they only get 99%-100% of what they were asking for.
Will prices go down!?! No, not any time soon, but they may stop going up and that may have already happened. The data lags on this by at least 30 days, but we may start seeing the year over year numbers start to level out…
At this moment in time, there are 295 properties available for sale in Arlington, 18 more than last week. Sellers listed 82 homes for sale, three less than last week. Ratified contracts are down 13 from last week, with just 59 contracts in the past seven days. Only 20 of those were homes listed just within the past seven days.
Of the 295 homes currently available for sale, 84 are detached homes, 28 are semi-detached/townhomes, and the remaining 183 are condominiums. These properties range in price from $100,000 all the way up to $7,950,000.
Average list price for currently available homes is $855,551, and the median price is $600,000. These homes have been on the market for an average of 43 DOM (days on market) and a median of 22.
This week last year, there were 438 homes available for sale throughout the county. Sellers had listed 146 homes for sale and buyers ratified 115 contracts.
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.
- 1210 N. Taft Street #606, Arlington, VA 22201 — $329,000
- 631 N. Piedmont Street, Arlington, VA 22203 — $649,900
- 5015 22nd Street N., Arlington, VA 22207 — $649,900
- 1200 Crystal Drive #1212, Arlington, VA 22202 — $850,000
- 4323 24th Street N., Arlington, VA 22207 — $1,350,000
- 2316 N. Stafford Street, Arlington, VA 22207 — $1,495,000
- 3119 N. Quincy Street, Arlington, VA 22207 — $1,503,800
- 5133 37th Street N., Arlington, VA 22207 — $3,950,000
