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.
My name is James Andors and I am thrilled to be continuing what Ron Cathell started eight years ago with Just Listed.
This column helps thousands of Arlingtonians keep their finger on the pulse of our aggressive and fast-paced Arlington housing market and you can expect I’ll do the same. Each Friday morning I’ll keep you thoroughly informed about our local real estate market as well as dig into relevant topics impacting housing, market trends, inventory and where we believe we’re headed.
My family moved to Arlington in 1993. Our team, the Andors Real Estate Group, was established by Louis Andors and we’ve been specializing in Arlington real estate for 25 years. Over the years, we have helped hundreds of Arlington buyers and sellers move in, move out and move around this great community. I grew up here, went to Arlington County public schools, and I am very fond of this special part of the Capital region we all enjoy so much. It’s a pleasure to be writing this and I hope you enjoy!
This week has been more of the same for Arlington home buyers and sellers — we’re very short on inventory and many homes sell within just days of hitting the market. Sometimes homes sell before the “For Sale” sign ever goes up, though I expect we’ll see less of that going forward.
Our local multiple listing service, BrightMLS, has just finished the rollout of new Coming Soon/Off-market rules and regulations effective February 1. The main change — homes must be listed in BrightMLS within one business day of any public marketing. The home can be entered into Active status (ready for showings) or Coming Soon status (no showings allowed yet). This new policy is designed to gain maximum exposure for sellers and provide the widest possible selection for buyers.
This week some 64 Arlington sellers listed their homes for sale, while buyers ratified 41 contracts. 24 of the ratified contracts were on homes listed within the last seven days.
Last week we had 149 active listings and this week we’re left with 161. Absorption dropped just a bit this week — I expect the uptick in holdover inventory will be under contract by next week’s column…
Interest rates have stayed low this past week triggering a huge boom in mortgage refinances.
Current homeowners — this can save you money! Refinance applications are up 15% from last week and are now at their highest demand levels since 2013 per the Mortgage Bankers Association. They estimate the average savings of incoming refinances will be almost $300 per month.
New mortgage applications are up 5% this week. The average 30-year fixed rate mortgage has held steady at 3.5%, no appreciable change from last week. If you’re a little farther into the ownership of your home, the 15 year is as low as 3%.
Next week we’ll talk a bit about why not all Arlington homes sell right away and how you can ensure your home ends up IN the market instead of sitting ON the market.
Please feel free to comment below and I look forward to writing for you next week! Additionally, if there are specifics you would like to see me cover, you can leave those in the comments as well.
The Andors Real Estate Group’s new website will be up and running next week. In the interim, Click here to search currently available Arlington real estate. Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate.
- 1276 N. Wayne Street #1001, Arlington, VA 22201 — $724,900
- 1239 N. Taylor Street, Arlington, VA 22201 — $1,679,000
- 3830 9th Street N. #405E, Arlington, VA 22203 — $415,000
- 4933 7th Road. S., Arlington, VA 22204 — $475,000
- 261 N. Park Drive, Arlington, VA 22203 — $799,900
- 6019 9th Road. N., Arlington, VA 22205 — $975,000
- 1101 16th Street S., Arlington, VA 22202 — $699,000
- 5709 6th Street N., Arlington, VA 22205 — $1,225,000