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:
- 1515 S. Arlington Ridge Road #504, Arlington, VA 22202 — $399,000
- 3650 S. Glebe Road #568, Arlington, VA 22202 — $415,000
- 1400 S. Barton Street #423, Arlington, VA 22204 — $434,900
- 975 S. Rolfe Street #1, Arlington, VA 22204 — $585,000
- 913 Patrick Henry Drive, Arlington, VA 22205 — $849,000
- 1331 19th Road S., Arlington, VA 22202 — $1,199,000
- 5642 8th Street N., Arlington, VA 22205 — $1,300,000
- 491 N. Wakefield Street, Arlington, VA 22203 — $1,975,000