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.
Welcome to JUST LISTED, Arlingtonians!
Mortgage rates continue to rise, averaging 5.66% over the past seven days. This is due to the continued aggressive monetary policies the Fed is taking as they contend with consistent, high inflation.
It’s anyone’s guess just how high rates will go, but expect that they have not peaked yet. The Fed keeps moving the goalposts, and banks, consumers and markets will continue to tumble and seek shelter until we receive more clarity. This unpredictability translates into a tumultuous fall for the housing market.
The inventory slide continues for the seventh straight week, indicating that despite interest rates, demand in Arlington remains strong overall. This resilience in Arlington is nothing new, it played out in 2008 and has for many decades, but the market is not irrational either. Most of the exuberance we witnessed over the past two years had to slow at some point, and the market does continue to slow now.
Open houses are slow, private agent showings are dwindling and sellers continue to make price adjustments to find the current market. Price growth trajectory is predicted to slow significantly for the next 6-9 months and possibly beyond.
This week in Arlington, sellers listed 46 homes for sale (10 more than last week), while buyers ratified 42 contracts, nine of which were on homes just listed in the last seven days.
Of the 358 homes currently available for sale (six less than last week), 120 are detached homes, 54 are semi-detached/town houses and 184 are condos.
Of those currently available properties, the average asking price is $919,219 and the median is $730,000. These properties have been sitting on the market for 61 days on average, while the median is 43.
This week last year, there were 483 properties available for sale, sellers listed 63 homes and buyers ratified 56 contracts. Mortgage rates were 2.87%!
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!
- 4118 36th Street S. #A2, Arlington, VA 22206 — $569,900
- 3543 S. Stafford Street #B, Arlington, VA 22206 — $575,000
- 3213 6th Street S., Arlington, VA 22204 — $817,000
- 1300 Crystal Drive #PH12S, Arlington, VA 22202 — $875,000
- 812 S. Wakefield Street, Arlington, VA 22204 — $975,000
- 731 26th Street S., Arlington, VA 22202 — $975,000
- 525 N. Ivy Street, Arlington, VA 22201 — $1,199,981
- 417 N. George Mason Drive, Arlington, VA 22203 — $1,259,900
