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.
Good morning Arlingtonians, and welcome to JUST LISTED!
Interest rates just ROCKETED upward by over .50% to their highest point since 2008 — currently sitting at an average of 5.78%. This increase is the largest single week jump, per Freddie Mac, since they started tracking this in 1987. It’s hard for me to stress just how significant this is going to be, and it really will impact our market going forward. House affordability is dropping like a rock, and this is going to rapidly decrease buyer sentiment in the marketplace. What’s more, interest rates will keep rising as the Fed works to fight their inflationary environment.
We’re now on an 11-week run for inventory increasing, and I don’t see that stopping anytime soon. With 411 properties to choose from throughout the county, inventory has increased over 58% in the past 16 weeks! Of the 411 currently available homes for sale, 132 are detached properties, 48 are town homes/semi-detached properties, and the remaining 231 are condominiums.
This past week, sellers listed 83 homes for sale, and decrease of 20 from the week prior, while buyers ratified 66 contracts, an increase of three. 19 of the ratified contracts were on homes just listed within the past seven days.
Average asking price of currently available homes is $926,201 and the median is $652,000. Currently available homes have been on the market for an average of 41 days and a median of 24 days.
This week last year, rates were sitting at 2.93%, sellers has listed 97 homes for sale and buyers ratified 94 contracts. There was a total of 533 properties for sale!
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.
- 205 N. Trenton Street, Arlington, VA 22203 — $235,000
- 4500 28th Road S. #D, Arlington, VA 22206 — $425,000
- 4108 21st Road N., Arlington, VA 22207 — $850,000
- 1805 28th Street S., Arlington, VA 22202 — $925,000
- 2216 N. Lincoln Street, Arlington, VA 22207 — $1,169,900
- 3215 19th Road N., Arlington, VA 22201 — $1,295,000
- 5523 22nd Street N., Arlington, VA 22205 — $1,350,000
- 5908 35th Street N., Arlington, VA 22207 — $2,250,000
