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!
I’ll pile on the bad news for those seeking a mortgage and let you know right off the bat that rates have continued to surge, with Freddie Mac reporting that over the past week, the average rate has hit 6.7%, and that’s with almost a full point at closing!
Wow, compare this to the same week last year when mortgage rates were 3.01%. This translates to well over $1,000 in additional costs for a typical Arlington mortgage, per month!
What does this mean for buyers and the market? Well, it means it has gotten more expensive to finance a home, but the rest of the calculation is the same — go ahead and buy that home, live in it for five or more years, and expect that you may refinance somewhere along the way! Mortgage rates are not likely to stay this high, though they may continue to rise in the short term — there will be opportunity down the road to correct your mortgage payment with a lower interest rate. Give strong consideration to an ARM (adjustable-rate mortgage) product these have surged in popularity recently and can save you a lot of money.
This week in Arlington, sellers listed 64 homes for sale (three more than last week), while buyers ratified 45 contracts, 19 of which were on homes just listed in the last seven days.
Of the 415 homes currently available for sale (one more than last week), 137 are detached homes, 69 are semi-detached/town houses, and 209 are condos. Of those currently available properties, the average asking price is $919,984 and the median is $699,999. These properties have been sitting on the market for 53 days on average, while the median is 29.
PICK OF THE WEEK — The Andors Real Estate Group is proud to have JUST LISTED 2735 Fort Scott Drive, Arlington, VA 22202 — $1,650,000.
This is a once in a generation (or two or three) opportunity to own a one-of-a-kind storied Arlington Colonial with views! In the same family for over half a century, this beautiful home shines with loads of charm, character and attention to detail. Beautiful wrap around staircases, soaring 20′ ceilings in the foyer, seven bedrooms, four full bathrooms and one half bathroom and nearly 5,000sf of finished space on all four levels. An almost 10,000sf lot overlooks Crystal City’s skyline and into Washington, D.C. Gorgeous hardwoods throughout, large proportioned rooms, a very functional floor plan and a walk-out lower level are just some of the features of this wonderful home.
Find my team there this weekend for public open houses, Saturday 1-4 p.m. and Sunday 1-3 p.m.!
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!
- 4626 34th Street S., #1602, Arlington, VA 22206 — $469,000
- 3107 9th Road N., Arlington, VA 22201 — $835,000
- 3206 22nd Street N., Arlington, VA 22201 — $925,000
- 1142 N. Vernon Street, Arlington, VA 22201 — $990,000
- 1332 N. Danville Street, Arlington, VA 22201 — $1,125,000
- 2735 Fort Scott Drive, Arlington, VA 22202 — $1,650,000
- 1732 N. Veitch Street, Arlington, VA 22201 — $2,075,000
- 3712 N. Woodrow Street, Arlington, VA 22207 — $2,375,000