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, and all the Just Listed readers out there!
Wow what a crazy week it’s been! Looking back to 2020, we saw many properties sell for $100,000 over asking price. Now, in 2022, we’re seeing properties sell $200,000 over ask, and in a handful of instances now, $300,000+ over asking price. Trust me, it’s astonishing us real estate agents just as much as it is the buyers, sellers, neighbors and writers at local news organizations alike!
Mortgage rates fall for a second week in a row, dropping to 3.89% on a 30-year fixed rate mortgage. This will be welcome news from buyers facing intense upward pressure on house prices in our local market (and throughout the country)!
Listing inventory continues to build, up ten from last week for a total of 240 properties to choose from. Sellers really stepped it up this week, listing 104 properties for sale in the past seven days!
Buyers were hard at work navigating pre-inspections, waiving appraisal contingencies and pulling out all the stops! They took 67 properties under contract this past week, an impressive 44 of those were homes that spent just seven days or less on the market.
Of the 240 homes currently available for sale, 46 are detached homes, 26 are semi-detached/townhomes and the remaining 168 are condominiums. These properties range in price from $105,000 all the way up to $3,750,000.
Average list price for currently available homes is $771,857, and the median price is $522,250. These homes have been on the market for an average of 63 DOM (days on market) and a median of 23.
Both the median and average days are in free-fall as the market continues to tighten. Buyers are starting to absorb holdover inventory that went through price reductions, multiple open houses, etc. The stuff hitting the market each week is just too hot to handle for many. Median days dropped by 10 week over week, or about 30%!
This week last year, there were 378 homes available for sale throughout the county. Sellers had listed 98 homes for sale and buyers ratified 66 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.
- 1111 Arlington Boulevard #624, Arlington, VA 22209 — $149,000
- 1029 N. Stuart Street #101, Arlington, VA 22201 — $519,900
- 3914 12th Street S., Arlington, VA 22204 — 840,000
- 2312 N. Vernon Street, Arlington, VA 22207 — $899,900
- 1104 S. Edgewood Street, Arlington, VA 22204 — $995,000
- 720 N. Tazewell Street, Arlington, VA 22203 — $1,150,000
- 1312 S. Kenmore Circle, Arlington, VA 22204 — $1,249,999
- 6017 26th Street N., Arlington, VA 22207 — $1,899,900
