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!
Holy mortgage rates rising! As conviction sets into markets about rising inflation, this is pushing the 10-year treasury yield upward, taking mortgage rates with it. Rates for a 30-year fixed-rate mortgage are the highest they’ve been in 11 months. Still, with rates in the low 3% range, this will continue to keep many buyers interested in a home purchase.
Sellers listed 120 homes on the market this past week, while buyers ratified 91 contracts. A whopping 51 of those were on homes just listed within the past seven days.
This week, there are 417 available properties for sale throughout all of Arlington and across all property types, three fewer homes than last week.
At just 77 detached properties available for sale, down 11 from last week, the bidding wars and stiff competition aren’t going anywhere anytime soon. There are 37 townhomes/semi-detached homes to choose from in Arlington, and condos remain extremely plentiful, with 303 currently on the market.
Condo prices are stagnant and are spending much more time on the market than detached/attached dwellings. This can mean there may be a deal to be had and potentially no competition. Contrast this with trying to purchase a newly listed detached home and you’re almost guaranteed to pay multiple percent above list price and have to waive some or all of your contingencies.
A quick comparison to last year, for the same week, sellers listed 84 homes and buyers ratified 52 contracts. There were also only 202 available properties for sale this week last year.
The average list price for currently available properties is $739,181 and the median is $509,000.
Currently available properties in Arlington have an average of 65 days on market (DOM) and a median of just 30.
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:
- 1120 S. Highland Street #2, Arlington, VA 22204 — $489,900
- 4315 S. 32nd Road, Arlington, VA 22206 — $640,000
- 1144 N. Vernon Street, Arlington, VA 22201 — $929,000
- 1554 12th Street S., Arlington, VA 22204 — $950,000
- 3524 8th Street N., Arlington, VA 22201 — $975,000
- 5750 10th Road N., Arlington, VA 22205 — $1,099,000
- 1111 19th Street N., Arlington, VA 22209 — $1,149,888
- 1818 S. Lynn Street, Arlington, VA 22202 — $1,175,000
