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, Arlingtonians, and welcome to JUST LISTED!
Mortgage rates just topped 6%, another fresh new high since 2008. The persistent inflationary environment is spooking banks and it’s really showing up in the cost of borrowing money.
“Will this make home prices go down?” No, it will not, not necessarily. Nationally, there are some indications that home prices are falling, though only in certain instances or price points. With that being said, overall inventory nationally, but especially locally, is very low. This means that prices will stay propped up; remember, at the end of the day this is still and always will be, a supply and demand equation. If there are more buyers than sellers, prices generally will remain the same, or rise.
Another week of solid new listings has resulted in slight growth in available inventory — expect this to continue for at least the next few weeks, possibly longer, as fall approaches. After all, fall is the “second spring market” and is historically a great time to sell a home.
As I write this, there are 30 properties in “Coming Soon” status, a good indicator that more and more properties will become available over the next 21 days.
This week in Arlington, sellers listed 82 homes for sale (14 more than last week), while buyers ratified 59 contracts (16 more than last week), 27 of which were on homes just listed in the last seven days. Of the 394 homes currently available for sale (2 more than last week), 134 are detached homes, 57 are semi-detached/town houses, and 203 are condos.
Of those currently available properties, the average asking price is $926,076 and the median is $699,999. These properties have been sitting on the market for 55 days on average, while the median is 34.
This week last year, there were 555 properties available for sale, sellers listed 107 homes and buyers ratified 79 contracts. Mortgage rates were 2.86%!
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!
- 1021 N. Garfield Street #B29, Arlington, VA 22201 — $505,000
- 4819 28th Street S. #A, Arlington, VA 22206 — $519,000
- 3800 Fairfax Drive #611, Arlington, VA 22203 — $578,000
- 880 N. Pollard Street #925, Arlington, VA 22203 — $579,900
- 3463 Kemper Road, Arlington, VA 22206 — $915,000
- 500 N. Nelson Street, Arlington, VA 22203 — $954,900
- 1718 N. Wayne Street, Arlington, VA 22201 — $2,949,999
- 1801 N. Herndon Street, Arlington, VA 22201 — $3,195,000
