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 there Arlington, and a delayed Happy Fourth of July!
Big news! Interest rates have fallen for a second week in a row, down from a peak of 5.81% (the highest since late 2008) and are now sitting at 5.30% over the past week. This is going to be a serious, and possibly temporary reprieve for purchasers.
Inventory continues to build in Arlington and the surrounding metropolitan area, while demand tapers. In Arlington, there are 432 residential properties available across all property types. Of those 432, 150 are detached properties, 58 are town homes/semi-detached properties and the remaining 224 are condominiums.
Take note — the condo market is actually a bit hotter than the detached/semi-detached market at the moment — this is directly attributable to interest rates making lower priced properties more attainable and appealing to those who don’t need the larger homes. We’ve seen condo inventory contract for the past month, despite plenty of new inventory coming online.
This past week, sellers listed 62 homes for sale, while buyers ratified just 35 contracts. Only seven of the ratified contracts were on homes just listed within the past seven days.
Average asking price of currently available homes is $904,661 and the median is $707,400. Currently available homes have been on the market for an average of 44 days and a median of 29 days.
This week last year, rates were sitting at 2.88%, sellers has listed 88 homes for sale and buyers ratified 54 contracts. There was a total of 540 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 like to check out.
- 1725 Queens Lane #112, Arlington, VA 22201 — $415,000
- 46 N. Bedford Street #46B, Arlington, VA 22201 — $549,900
- 1018 S. Rolfe Street, Arlington, VA 22204 — $940,000
- 1411 Key Boulevard #403, Arlington, VA 22209 — $945,000
- 814 S. Oakland Street, Arlington, VA 22204 — $1,000,000
- 5713 11th Street N., Arlington, VA 22205 — $1,000,000
- 2911 22nd Street N., Arlington, VA 22201 — $1,100,000
- 1220 N. Danville Street, Arlington, VA 22201 — $1,325,000
