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.
It’s 5:30 a.m. here in Arlington, do you know where your Realtor is?!
At Andors Real Estate Group, we’re up before the crack of dawn working on connecting our buyers with sellers, and our sellers with buyers. In this kind of market environment, you need an agent who is knocking on doors, making calls and getting it done! This market is not for the faint of heart, as lost contracts are becoming the norm very quickly, prices are escalating sky-high, and
Expect more frenzy from buyers in the short term, as rates took another jump (after three weeks of stagnation) rising from 3.5% last week to 3.69% this week. Remember, these rates are still super, super low and historically excellent, but they will start to shake some people’s confidence. Buyers shouldn’t be too worried, consensus is they’ll stop going up once they get to around 4%, but it’s definitely going to feel like a fire, especially for those actively in the market.
Despite sellers putting 77 new homes on the market over the past seven days, inventory dropped another 13, to a record low of 226 available properties (down from 237 last week). If buyers continue to ratify at these levels, we’re barely scratching three weeks’ worth of supply! Expect prices to continue to rise, fast, if this keeps up!
Buyers ratified 71 homes in the past week, so while that doesn’t perfectly keep pace with new inventory, a lot of the holdover inventory is also being absorbed (those sitting on the market for a month or longer) and of the 71 properties that went under contract, 38 of those spent less than seven days on the market.
Of the 226 homes currently available for sale, 53 are detached homes, 22 are semi-detached/townhomes, and the remaining 159 are condominiums. These properties range in price from $100,000 all the way up to $3,850,000.
Average list price for currently available homes is $872,076, and the median price is $562,000. These homes have been on the market for an average of 77 DOM (days on market) and a median of 38. Median days on market is dropping fast and serves as a much better barometer for how the market is moving; the average is heavily weighted by overpriced properties that sit on the market a long time.
This week last year, there were 376 homes available for sale throughout the county. Sellers had listed 64 homes for sale and buyers ratified 72 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.
- 4825 28th Street S. #A, Arlington, VA 22206 — $515,000
- 851 N. Glebe Road #1109, Arlington, VA 22203 — $540,000
- 4632 34th Street S., Arlington, VA 22206 — $599,900
- 1116 S. Columbus Street, Arlington, VA 22204 — $649,900
- 28 S. Manchester Street, Arlington, VA 22204 — $650,000
- 5702 11th Road N., Arlington, VA 22205 — $999,000
- 6204 22nd Road N., Arlington, VA 22205 — $999,900
- 5924 5th Street N., Arlington, VA 22203 — $1,100,000
