Each week, “Just Reduced” spotlights properties in Arlington County whose price have been cut over the previous week. The market summary is crafted by Arlington Realty, Inc. Maximize your real estate investment with the team by visiting www.arlingtonrealtyinc.com or calling 703-836-6000 today!
Please note: While Arlington Realty, Inc. provides this information for the community, it may not be the listing company of these homes.
As of September 12, there are 157 detached homes, 60 townhouses and 229 condos for sale throughout Arlington County. In total, 33 homes experienced a price reduction in the past week, including:
Please note that this is solely a selection of Just Reduced properties available in Arlington County. For a complete list of properties within your target budget and specifications, contact Arlington Realty, Inc.
Happy Friday everyone! It looks to be a slightly cooler weekend ahead and a perfect time to visit an open house or two.
According to Homesnap, there have been 209 sales and 113 new listings in the last 4 weeks. Currently, there are 501 homes for sale with a median list price of $685,000 and a median sales price of $635,000.
Here’s a look at some of the open houses taking place in Arlington this weekend
1833 N. Columbus Street, Highview Park*
6 BR/6.5 BA Single-family home Noteworthy: Brand new single family home in Highview Park! Listed: $1,899,900 Open: Sunday, 1-4 p.m. (Amanda Irizarry – NXT Shell Realty)
738 N. George Mason Drive, Bluemont*
5 BR, 3 BA single-family detached Noteworthy: This large beauty is updated throughout with a private, spacious backyard!! Listed: $1,299,000 Open: 2-4pm (Carrie Shokraei – RE/MAX Allegiance)
2607 N. Franklin Road
6 BR/5.5 BA Single-family home Noteworthy: Floor to ceiling windows, side entry, bonus loft Listed: $2,895,000 Open: Saturday, 10 a.m.-12 p.m. (Caitlin Platt – RE/MAX Distinctive Real Estate)
5205 N. Carlin Springs Road
5 BR/5.5 BA Single-family home Noteworthy: Wine storage, home theater, two car garage Listed: $1,895,000 Open: Sunday, 2-4 p.m. (Robert Carney – TTR Sotheby’s International Realty)
1909 N. Woodley Street
3 BR/2.5 BA Townhouse Noteworthy: Renovated end unit, fenced patio, attached garage Listed: $897,000 Open: Saturday, 12-2 p.m. (Eli Tucker – RLAH)
5612 18th Street N.
4 BR/2.5 BA Single-family home Noteworthy: Electric fireplace, attic storage, hardwood floors Listed: $980,000 Open: Saturday, 1-3 p.m. (Norm Odeneal – KW Metro Center)
1804 S. Nelson Street
2 BR/2 BA Single-family home Noteworthy: Private backyard, stone patio, automatic pet door Listed: $745,000 Open: Saturday, 12-2 p.m. (Kristin Francis – KW Metro Center)
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 and welcome to JUST LISTED, Arlingtonians!
WOAH — mortgage rates just hit their highest average since 2008 — 5.89% average for the standard, 30-year fixed rate mortgage. This continued upward trend reflects the nervous sentiment about the overall trajectory of the economy, the persistent and elevated rate of inflation and simple uncertainty that comes from this.
The flood of inventory I predicted would hit our marketplace just after Labor Day is here, and available properties just jumped significantly, after a six-week run of decreasing inventory.
Additionally, as of now, there are 24 properties in “Coming Soon” status, many of which will begin hitting the market over the next few days and within 21 days at most. This number varies greatly depending on the day of the week, due to the weekly cycle most agents follow of listing properties in “active” status on Thursday and Friday.
What are we seeing in the market right now? Well, we’re seeing some things we hadn’t for a long time. Lowball offers, houses sitting that everyone thought would sell, an abundance of price reductions to find the marketplace, and overall lower activity on all fronts. The reality of our market, and how fast it has shifted is lost on some, especially on sellers. The days of intense bidding wars, large price escalations and over-exuberance are largely behind us, and that may be the new norm, for a while.
This week in Arlington, sellers listed 68 homes for sale (22 more than last week), while buyers ratified 43 contracts, 12 of which were on homes just listed in the last seven days. Of the 392 homes currently available for sale (34 more than last week), 131 are detached homes, 62 are semi-detached/town houses and 199 are condos.
Of those currently available properties, the average asking price is $902,205 and the median is $715,000. These properties have been sitting on the market for 55 days on average, while the median is 37.
This week last year, there were 532 properties available for sale, sellers listed 93 homes and buyers ratified 41 contracts. Mortgage rates were 2.88%!
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.
Address:5509 17th Street N. Neighborhood: Tara Neighborhood Listed: $1,195,000 Open: Sunday, September 11, from 1-4 p.m.
Expansive mid-Century brick rambler with great bones on a private 11,400 square foot lot in the Cardinal, Swanson, Yorktown pyramid.
Traditional living room is anchored by a wood burning fireplace and flows into the dining room with built-ins and views of the gorgeous yard. The kitchen was recently renovated with Brookhaven cabinets, KitchenAid and Thermador appliances, and has a door opening to the covered patio, deck and one car garage. Wood floors continue from the living areas into the primary bedroom, second and third bedrooms. The primary bathroom and hall bathroom are original to the home and are in pristine condition.
The lower level provides an exceptionally large rec room with another fireplace, tall windows and built-in bookcases. A door opens to the backyard from the gym and office area and a fourth bedroom is on this level. The recently-renovated bathroom has an oversized shower and large vanity and adjoins the laundry room with granite tops on the cabinet and a deep sink.
Walk to Westover Village’s shops, restaurants, library, Sunday farmer’s market, the bike path, Big Walnut and Parkhurst Parks. Whether commuting to a workplace or working from home, this versatile home can be your dream home.
Each week, “Just Reduced” spotlights properties in Arlington County whose price have been cut over the previous week. The market summary is crafted by Arlington Realty, Inc. Maximize your real estate investment with the team by visiting www.arlingtonrealtyinc.com or calling 703-836-6000 today!
Please note: While Arlington Realty, Inc. provides this information for the community, it may not be the listing company of these homes.
As of September 5, there are 147 detached homes, 57 townhouses and 206 condos for sale throughout Arlington County. In total, 30 homes experienced a price reduction in the past week, including:
Please note that this is solely a selection of Just Reduced properties available in Arlington County. For a complete list of properties within your target budget and specifications, contact Arlington Realty, Inc.
Welcome to September! It’s another weekend with a new round of open houses.
There are currently 599 homes for sale in Arlington. Of those homes for sale, 342 are condos, 208 are detached homes and 49 are townhomes, according to Homesnap.
Here’s a look at some of the open houses taking place in Arlington this weekend:
4605 26th Street N.
6 BR/6.5 BA Single-family home Noteworthy: Four levels, floating staircase, wine cove Listed: $3,595,000 Open: Sunday, 1-4 p.m. (Tom Francis – Keller Williams Realty)
4890 Old Dominion Drive
4 BR/2.5 BA Single-family home Noteworthy: New roof, fireplace, patio Listed: $1,295,000 Open: Saturday, 12-2 p.m. (Bob Mathew – MXW Real Estate)
6215 23rd Street N.
3 BR/2 BA Single-family home Noteworthy: Back porch, patio, wood burning fireplace Listed: $850,000 Open: Sunday, 1-4 p.m. (Elizabeth Twigg – McEnearney Associates)
4404 34th Street S.
3 BR/3 BA Townhouse Noteworthy: Updated and remodeled, fenced in patio Listed: $795,000 Open: Sunday, 1-3 p.m. (Lex Lianos – Compass)
Address: 4600 S. Four Mile Run Drive #141 Neighborhood: South Arlington Listed: $214,900 Open: Saturday and Sunday 12-3 p.m.
This is the best 2-bedroom deal in Arlington! All utilities included! This two-bedroom layout spans 1,084 square feet and features a spacious living area, a private balcony and a separate dining area.
Enter the unit to a welcoming foyer area that leads into the living bright and open living area. The floor-to-ceiling glass windows have been upgraded and lead out onto your own balcony. The balcony overlooks Four Mile Run on the quiet side of the building. The dining area is off of the living room and is large enough for your dining space or for a home office area. The kitchen features plenty of cabinet and counter space to go along with its own pantry.
Both bedrooms are located down the hall for additional privacy. The first bedroom features a walk-in closet and access to the balcony directly from the bedroom. The second bedroom comes with a wall of closets and a Juliet balcony. The bathroom is located at the end of the hallway, convenient to both bedrooms.
Residents enjoy a fully equipped gym, an outdoor Olympic-sized pool and many other amenities. The Carlton is conveniently located near the W&OD Trail, Shirlington, The Pentagon, Amazon HQ2 and everything the area has to offer!
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!
Mortgage rates continue to rise, averaging 5.66% over the past seven days. This is due to the continued aggressive monetary policies the Fed is taking as they contend with consistent, high inflation.
It’s anyone’s guess just how high rates will go, but expect that they have not peaked yet. The Fed keeps moving the goalposts, and banks, consumers and markets will continue to tumble and seek shelter until we receive more clarity. This unpredictability translates into a tumultuous fall for the housing market.
The inventory slide continues for the seventh straight week, indicating that despite interest rates, demand in Arlington remains strong overall. This resilience in Arlington is nothing new, it played out in 2008 and has for many decades, but the market is not irrational either. Most of the exuberance we witnessed over the past two years had to slow at some point, and the market does continue to slow now.
Open houses are slow, private agent showings are dwindling and sellers continue to make price adjustments to find the current market. Price growth trajectory is predicted to slow significantly for the next 6-9 months and possibly beyond.
This week in Arlington, sellers listed 46 homes for sale (10 more than last week), while buyers ratified 42 contracts, nine of which were on homes just listed in the last seven days.
Of the 358 homes currently available for sale (six less than last week), 120 are detached homes, 54 are semi-detached/town houses and 184 are condos.
Of those currently available properties, the average asking price is $919,219 and the median is $730,000. These properties have been sitting on the market for 61 days on average, while the median is 43.
This week last year, there were 483 properties available for sale, sellers listed 63 homes and buyers ratified 56 contracts. Mortgage rates were 2.87%!
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!
For sale / contract pending real estate sign (file photo)
The once-hot real estate market in Northern Virginia is cooling as interest rates rise.
The median home sale price dipped slightly in July. While Arlington’s stats did not include a price drop — prices here have held up better than the outer suburbs — the number of home sales dropped.
The median sales price for homes that sold in Northern Virginia in July stood at $580,000, according to figures reported by the Virginia Realtors trade group.
While higher by nearly 5 percent than the $553,000 recorded in July 2021, the $580,000 figure trails the median sales price of $583,000 for the first seven months of 2022.
Put another way: While the year-to-date median sales price through July was up $13,100 (from $539,900 during the first seven months of 2021), July 2022’s sales price was down $3,000 from the same point a year before.
A sign of the apocalypse? No. But decidedly a sign of cooling. Especially as the summer months tend to be among the strongest, price-wise, in the local real-estate market.
Today we’re asking a somewhat counterintuitive question: do you, personally, think this dip in prices is a good thing?
After all, the run-up in home costs have come at the expense of affordability for first-time homebuyers, pricing many middle-income families out of the market for homes in places like Arlington, even as it has benefited existing homeowners.
So, purely from your perspective, do you see a home price swoon as a net negative or a net plus?
Real estate sign in the Arlington Heights neighborhood (staff photo by Jay Westcott)
This Wall Street Journal article telling the story of the steep price of single-family homes in Arlington has attracted lots of local attention this week.
The crux of the story: members of the Millennial generation, many of whom first came to the area as apartment-dwelling singles, are increasingly starting families and looking to trade up to single-family homes, but a lack of supply has made it difficult for them to find something affordable in Arlington.
Still, Arlington remains an attractive place to live, particularly for the mix of suburban-style living and urban-style amenities.
From WSJ:
But many of those millennials are well paid and want larger homes than they would get in those high-rises, said David Howell, executive vice president and chief information officer with McEnearney Associates in Washington. Others are starting families or moving to Arlington for its good schools, said Mr. Howell, or for new jobs with federal agencies and Arlington-based companies such as Boeing Co. or Nestlé SA’s U.S. headquarters. There is little land for building new single-family housing, he noted. The pandemic worsened the shortage, according to Ryan McLaughlin, chief executive officer of the Northern Virginia Association of Realtors. Older homeowners didn’t downsize, he said, and others renovated houses they now hesitate to leave. Now, he added, owners also balk at trading low mortgage rates for new, higher ones.
“Single-family homes are the hottest ticket in town, for sure,” said Mr. McLaughlin. “The extraordinary price growth has left many homeowners with very expensive homes while leaving first-time home buyers wondering how they will afford to buy one.”
Despite the slowdown in the overall market, the median price for a single-family detached home in Arlington County rose by 16.5% between July 2021 and July 2022, according to Bright MLS. The average number of days homes stay on the market rose from July 2021, but only by two days to 18 days, the service reported. At the end of July 2022, there were 147 detached homes on the market in Arlington, 21 more than in July 2021, according to Bright MLS.
Of course, not everyone needs a single-family detached home. Some would-be homeowners would be happy (or happier) with a single-family attached home, like a townhouse or a duplex.
But those are in shorter supply. The number of townhouses currently on the market is less than half the number of single-family detached homes, according to Redfin data. On the other hand, townhouses and duplexes are, on average, considerably less expensive than single-family detached homes, which have a current average sale price of just over $1.2 million, according to Redfin.
Arlington’s missing middle housing initiative may end up changing zoning to allow for more townhouses, duplexes and other smaller-scale multi-family housing types, but for now the reality is that there’s more to choose from if you were interested in detached homes on one end of the spectrum or condos in larger complexes on the other.
Given the WSJ story about the popularity of single-family detached homes, and the on-going missing middle debate, we were interested in finding out the housing preferences of readers if you take price out of the equation.
If all other things were equal, including price, what would be your preferred home type (detached or attached) and location type (a more leafy, suburban setting, or a more urban setting with amenities like restaurants and transit nearby) within Arlington?
The Italian Store and Westover after sunset (staff photo by Jay Westcott)
House Fire Near Columbia Pike — From ACFD last night: “Units are on the scene of a working structure fire in the 3100 BLK of 15th St S. Avoid the area.” [Twitter]
Will ‘NaLa’ Catch On? — “At first, it showed up on freebie water bottles. Then it made its way onto rainbow shirts for Pride Month. In June, it popped up on Instagram as a hashtag, and in July, it was suddenly plastered on the surfboard and silver Airstream set up in a grassy patch of Arlington, declaring to the commuters, dog walkers and joggers strutting by that their neighborhood had earned a new nickname: NaLa.” [Washington Post]
Will Home Prices Fall? — “The real-estate industry’s equivalent of the ‘f-word’ – ‘falling,’ as in ‘falling prices’ – is beginning to be used across the nation even by some who earlier felt that the homes market would withstand economic pressures without seeing declines in sales prices. But in the local area, one expert believes that localities remain largely insulated from the prospect of dropping prices over the near term.” [Sun Gazette]
Latin Masses Curtailed — “Thirteen parishes in the Diocese of Arlington, Virginia, must stop offering Traditional Latin Masses come Sept. 8 under new rules issued Friday by Bishop Michael J. Burbidge to conform with Pope Francis’ liturgical directives. Under the rules, eight other parishes may continue to offer Masses in what is called the Extraordinary Form, but five of those may only do so in other locations besides their churches, including school buildings and a former church.” [Catholic News Agency]
Arlington Man Wins Jeopardy! — Luigi de Guzman, an attorney from Arlington, won Friday’s episode of TV quiz show Jeopardy! with a final score of $23,401. [J! Archive]
Summer School Success — “There were the inevitable glitches, but it appears Arlington Public Schools’ soon-to-wrap-up summer-school program was a relatively smooth endeavor. ‘We’re really excited about all of the great learning,’ Superintendent Francisco Durán said in an update to School Board members on the effort, which attracted 3,152 students, ‘the vast majority’ in person, Durán said.” [Sun Gazette]
Monday Was Dark Star Park Day — From the Rosslyn BID: “While the clouds parted a little later than 9:32AM, we were glad to watch this year’s Dark Star Park Day alignment with all of you!” [Twitter]
It’s Tuesday — Humid throughout the day. High of 89 and low of 75. Sunrise at 6:12 am and sunset at 8:20 pm. [Weather.gov]
