Heat Wave Can’t Stop Buyers

July 28th, 2016
New listing- need inventory

2900 N. 23rd Street

Just Listed

The heat wave this week hasn’t stopped buyers from purchasing homes in Arlington. The market appears resilient to anything. Some 62 brave buyers ratified contracts on homes this week ranging in price from $175,000 to $2.2 million. Meanwhile, only 57 home sellers listed their homes for sale this week. Arlington still needs more inventory. It has only 635 residential properties for sale, including condos and townhomes. At the current pace of absorption, that’s only 2.56 months of inventory. A market is considered in equilibrium when it has 5.5 months of inventory.

Near record low mortgage interest rates keep helping the housing industry. The 30-yr fixed rate conforming loan is now about 3.63%, and the jumbo 30-yr rate is about 3.5%.  Rates had little or no change this week. It’s a great time to buy if you can find the right home.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

Arlington, VA New Listings

1713 TROY ST #7-387, ARLINGTON, VA 22201- $375,000

1020 HIGHLAND ST #621, ARLINGTON, VA 22201- $424,999

1001 RANDOLPH ST N #219, ARLINGTON, VA 22201- $499,990

4430 1ST RD S, ARLINGTON, VA 22204- $675,000

1170 VERNON ST N, ARLINGTON, VA 22201- $795,000

613 TAYLOR ST S, ARLINGTON, VA 22204- $824,000

2900 23RD ST N, ARLINGTON, VA 22

201- $1,075,000

3024 HARRISON ST, ARLINGTON, VA 22207- $1,197,000

 

Team Cathell Open Houses

317 N. Fillmore Street Arlington, VA 22201 $1,485,000- Open Sunday 1-4pm

3024 N. 4th Street Arlington, VA 22201 $1,739,900- Open Sunday 1-4pm

Great Inventory In Arlington

July 22nd, 2016
Arlington New Listing

3024 N. 4th Street

Just Listed

There’s been some good inventory come into the market this week in Arlington. Some 68 fresh listings were posted in MRIS this week, while 65 homes went under contract, including a $2.9m home in Country Club Hills. There is a good selection this week of single family homes priced in the mid-range of $650,000 to $900,000.

Mortgage rates dropped again this week to an incredible 3.44% for a 30-yr fixed rate, and they may keep dropping.

Listing of the week:  3024 N. 4th St. in Lyon Park – Be sure to check out the 3D virtual tour

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

Arlington, VA New Listings

1402 12TH ST N #15, ARLINGTON, VA 22209- $329,000

1029 STUART ST N #524, ARLINGTON, VA 22201- $349,900

1530 KEY BLVD #130, ARLINGTON, VA 22209- $525,000

5501 24TH ST N, ARLINGTON, VA 22205- $750,000

6205 26TH ST N, ARLINGTON, VA 22207- $799,000

139 ABINGDON ST S, ARLINGTON, VA 22204- $799,000

5500 23RD ST N, ARLINGTON, VA 22205- $949,000

3024 4TH ST N, ARLINGTON, VA 22201- $1,739,900

Team Cathell Open Houses:

3024 N. 4th Street Arlington, VA 22201- $1,739,900- Open Saturday & Sunday 1-4pm

3835 N. 9th Street #410E Arlingotn, VA 22203- $485,000- Open Sunday 1-4pm

Real Estate Market Bounced Back

July 15th, 2016
Arlington New Listing

4839 N. 23rd Street

Just Listed

Arlington’s real estate market bounced back this week with a surge of fresh inventory and increase in number of homes sold.  Some 75 new listings came on the market, while 63 homes went under contract.  Buyers were busy snatching up last week’s inventory in record time, dropping the average days on market to only 34.

Mortgage rates also dropped to a 3-year low this week and then stabilized.  Economists expect these low rates to remain unchanged for the summer. Freddie Mac reports the average national rate for a 30-yr fixed rate mortgage is just 3.47%. These record low rates have caused a spike in loan applications, up 66% from a year ago. Some two-thirds of those applications are for refinance.  We should see Arlington buyers this summer taking advantage of the low rates and boosting sales above the normal slow summer pace.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

Arlington, VA New Listings

1001 RANDOLPH ST N #306, ARLINGTON, VA 22201- $299,900

1100 BARTON ST S #298, ARLINGTON, VA 22204- $424,900

3141 STAFFORD ST S, ARLINGTON, VA 22206- $449,900

2315 UTAH ST, ARLINGTON, VA 22207- $800,000 

3514 13TH ST N, ARLINGTON, VA 22201- $849,900

1809 MONROE ST, ARLINGTON, VA 22207- $899,000

1211 HARRISON ST, ARLINGTON, VA 22205- $899,000

4839 23RD ST N, ARLINGTON, VA 22207- $1,165,000

 

Team Cathell Open Houses

317 N. Fillmore Street Arlington, VA 22201- $1,485,000 Open Sunday 1-4pm

You Missed It!

June 23rd, 2016
Arlington, VA

2514 N. 24th Street

Just Listed

Well, you missed it. Last week interest rates hit their lowest in 3 years. That sparked an increase in mortgage applications up 35% over last year, mostly refinances.  But you are still okay, whether it’s time to refinance or purchase a home. Rates this week ticked up only 4 basis points (4 one-hundredths of a percent) so rates are still phenomenally low sitting at about 3.74% for a 30-yr fixed rate.

Arlington’s real estate market continues to prove that it just keeps marching along no matter season, heat, or rain. This week 69 homes went under contract with a record high average list price of $702,139. The average days on market dipped also to just 40. Only 61 properties were listed this week. Arlington still has an incredible 2.35 months of inventory at the current pace of sales. A market is considered in equilibrium when there is 5.5 months of inventory.

Arlington, VA New Listings

1800 KEY BLVD #9491, ARLINGTON, VA 22201- $280,000

2873 BUCHANAN ST #A1, ARLINGTON, VA 22206- $389,000

1020 HIGHLAND ST #613, ARLINGTON, VA 22201- $424,900

1001 VERMONT ST #702, ARLINGTON, VA 22201- $425,000

109 PARK DR, ARLINGTON, VA 22204- $679,990

6219 28TH ST N, ARLINGTON, VA 22207- $799,000

1407 LINCOLN ST N, ARLINGTON, VA 22201- $895,000

2514 24TH ST N, ARLINGTON, VA 22207- $1,650,000

Team Cathell Open Houses

317 N. Fillmore Street Arlington, VA 22201- $1,485,000 – Open Sunday 1-4pm

7759 Euclid Way Arlington, VA 22153- $350,000 Open Sunday 1-4pm

Easing Back Into Summer

June 17th, 2016
Arlington New Listing

317 N. Fillmore Street

Just Listed

Arlington’s real estate market is easing into a summer mode. Activity this week slowed from last week. Some 70 new listings came on the market, while only 63 properties went under contract. Of those sold, 45 had been on the market for more than a week.  Many of them were on the market for more than 100 days which has helped to clear out some stale inventory. That has raised the average days on market to 47.

Good news for buyers. The Federal Reserve this week decided not to raise short-term interest rates.  Although those rates are not directly linked to long-term mortgage rates, the Fed’s announcement did influence the mortgage markets and rates dropped 5 basis points to 3.7% for a 30-yr fixed rate loan, the lowest rates in 3 years.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

Arlington, VA NEW Listings

4141 HENDERSON RD #916, ARLINGTON, VA 22203- $329,990

2400 CLARENDON BLVD #513, ARLINGTON, VA 22201- $539,000

1026 MADISON ST, ARLINGTON, VA 22205- $640,000

5104 26TH RD N, ARLINGTON, VA 22207- $674,900

1519 KIRKWOOD RD, ARLINGTON, VA 22201- $789,000

4630 40TH ST N, ARLINGTON, VA 22207- $949,000

3855 30TH ST N, ARLINGTON, VA 22207- $990,000
317 FILLMORE ST N, ARLINGTON, VA 22201- $1,485,000

Team Cathell Open Houses

317 N. Fillmore Street Arlington, VA 22201-$1,485,000 (Open Saturday & Sunday 1-4pm)

3228 N. Pershing Drive Arlington, VA 22201- $1,099,900 (Open Sunday 1-4pm)

 

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Pick Up In The Market?

June 10th, 2016
Arlington Listing

4757 Williamsburg Blvd.

Just Listed

The Arlington real estate market appears to have picked up a bit with more new listings and ratified contracts than last week. Some 89 fresh listings came on the market this week, while 75 properties went under contract. 25 of those properties were on the market for less than a week, which is a significant increase of buyer activity than last week. The average days on market also dropped (just slightly) to 43 days.

Mortgage rates are down and mortgage applications are up! 30-yr fixed rate loans are hovering around 3.625%-3.75%.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

Arlington, VA New Listings

2330 QUINCY ST #1, ARLINGTON, VA 22204- $525,000

5723 6TH ST N, ARLINGTON, VA 22205- $610,000

5412 CARLIN SPRINGS RD, ARLINGTON, VA 22203- $689,900

6815 27TH ST N, ARLINGTON, VA 22213- $799,000

2004 KENILWORTH ST N, ARLINGTON, VA 22205- $879,900

3228 PERSHING DR, ARLINGTON, VA 22201- $1,099,900

1301 QUINCY ST, ARLINGTON, VA 22204- $1,200,000

4757 WILLIAMSBURG BLVD, ARLINGTON, VA 22207- $1,750,000

 

Team Cathell Open Houses

3228 N. Pershing Drive Arlington, VA 22201- $1,099,900 Open Saturday & Sunday 1-4pm

3141 N. Thomas Street Arlington, VA 22207- $1,499,000 Open Sunday 1-4pm

44417 Blueridge Meadows Drive Ashburn, VA 20147- $639,900 Open Sunday 1-4pm

Mellow Summer Market

June 3rd, 2016
Arlington new listing

3115 N. 7th Street

Just Listed

The Arlington real estate market appears to have started its slide into a mellow summer market this week with fewer new listings and even fewer ratified contracts.  Some 74 fresh listings came on the market this week, while only 66 properties went under contract.  Only 11 of those were on the market for less than a week, a significant cooling of buyer activity than in the previous several weeks that witnessed multiple contracts and bidding wars. Some of Arlington’s stale inventory sold as many of the ratified contracts were on properties that had been on the market more than 30 days.  This caused the average days on market to jump to 45.

Mortgage rates for 30-yr fixed rate loans remained steady this week, still hovering at 3.82%.  But 15-yr loans jumped up about 18 basis points as the Fed signaled it could increase short-term rates at its June meeting.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

Arlington, VA New Listings

100A BEDFORD ST #A, ARLINGTON, VA 22201- $249,900

1811 KEY BLVD #10528, ARLINGTON, VA 22201- $377,500

2329 N. EDISON ST, ARLINGTON, VA 22207- $745,000

867 LEXINGTON ST, ARLINGTON, VA 22205- $799,900

712 N JEFFERSON ST, ARLINGTON, VA 22205- $799,999

3511 3RD ST N, ARLINGTON, VA 22201- $849,000

623 EDISON ST N, ARLINGTON, VA 22203- $849,900

3115 7TH ST N, ARLINGTON, VA 22201- $1,825,000

Team Cathell Open Houses:

3511 N. 3rd Street Arlington, VA 22201-$849,000- Open Saturday & Sunday 1-4pm

3141 N. Thomas Street Arlington, VA 22207- $1,499,000- Open Saturday & Sunday 1-4pm

Temperatures Heated Up, Market Cooled Down

May 26th, 2016
arlington listing

2701 N. 1st Road

Just Listed

Summer is finally here. The temps heated up this week, and the real estate market cooled down. New listings dropped to 78 this week, compared to the record 99 set last week. It’s expected that sellers would rather wait until after the Memorial Day weekend to go on the market as many “would be” buyers will be traveling this weekend. The number of sales this week hit 81 which is good for a holiday week. Of those sold, 34 went under contract within 7 days. There were still reports from agents this week of multiple contracts and bidding wars on many properties.

Interest rates edged up a little this week by 6 basis points to about 3.78% for a 30-yr fixed rate.  And it was reported that mortgage applications increased 2.5% over this time last year which is a good sign for our housing market.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

Team Cathell wishes you a fun and safe holiday weekend!

Arlington, VA New Listings

2400 CLARENDON BLVD #312, ARLINGTON, VA 22201- $385,000

2500 FAIRFAX DR #B, ARLINGTON, VA 22201- $619,000

209 BARTON ST N, ARLINGTON, VA 22201- $799,900

5547 15TH ST N, ARLINGTON, VA 22205- $850,000

2700 BEECHWOOD PL N, ARLINGTON, VA 22207- $879,000

2424 FORT SCOTT DR, ARLINGTON, VA 22202- $1,049,957

1602 BRYAN ST, ARLINGTON, VA 22201- $1,200,000

2701 1ST RD N, ARLINGTON, VA 22201- $1,325,000

 

Team Cathell Open Houses

44417 Blueridge Meadows Drive Ashburn, VA 20147 $639,900 Open Sunday 1-4pm

Arlington Market Has Slowed

May 12th, 2016
Arlington Listing

412 N. Garfield Street

The pace of Arlington’s real estate market slowed a bit this week after last week’s record sales and inventory. Some 80 fresh new listings came on the market this week, while 79 homes sold.  Of those sold, 26 had ratified contracts within seven days on the market. The average days on market crept upward slightly this week to 37, and that includes two homes sold after 289 days on market and the other 585 days on market.

Interest rates didn’t move this week, staying at 3.72% for a 30-yr fixed rate. But overall loan originations are down 20% from last year primarily due to fewer refinances. Originations for purchases are up 3%, showing a slow but steady growth in home ownership. More interesting is that home equity lines of credit are up 45% over last year indicating home owner equity has rebounded and owners are tapping in for many reasons, home improvements topping the list.

3014 BUCHANAN ST S, ARLINGTON, VA 22206- $450,000

5020 11TH ST S, ARLINGTON, VA 22204- $540,000

1310 NORWOOD ST S, ARLINGTON, VA 22204- $649,900

5912 3RD ST N, ARLINGTON, VA 22203- $729,900

5640 7TH ST N, ARLINGTON, VA 22205- $739,900

5218 26TH RD N, ARLINGTON, VA 22207- $749,900

1313 FREDERICK ST, ARLINGTON, VA 22205- $949,995

412 GARFIELD ST N, ARLINGTON, VA 22201- $2,000,000

New Record For Arlington

May 5th, 2016
Arlington New Listing

509 Kenmore Street

Just Listed

Arlington’s real estate market set a new record for the year so far posting both the most homes sold in a week and the freshest new inventory.  Some 82 contracts were ratified this week while 96 new listings came on the market. Of those 82 homes sold this week, 34 of them sold within seven days on the market. That pace pushed down the average days on market to the lowest mark yet this year at only 33. All this activity has also pushed up the average list price of homes sold to $666,216. So clearly the Arlington market right now is hot hot hot.

This week’s fresh inventory includes numerous single family detached homes in that high demand price range of $650,000- $950,000. There’s a big variety to choose from this week.

Mortgage rates edged downward this week by 8 basis points to rest at about 3.72% for a 30-yr fixed rate.  Last year at this time interest rates were 3.99%.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

Arlington, VA New Listings

2030 ADAMS ST #603, ARLINGTON, VA 22201- $299,000

4141 HENDERSON RD N #1002, ARLINGTON, VA 22203- $349,900

3830 9TH ST N #304E, ARLINGTON, VA 22203- $449,999

4109 36TH ST S, ARLINGTON, VA 22206- $480,000

5145 3RD ST N, ARLINGTON, VA 22203- $649,900

2301 MADISON ST, ARLINGTON, VA 22205- $825,000

34 FENWICK ST N, ARLINGTON, VA 22201- $949,000

509 KENMORE ST, ARLINGTON, VA 22201- $1,300,000

Team Cathell Open Houses

118 S. Highland Street Arlington, VA 22204- $850,000 Open Sunday 1-4pm

3207 N. 1st Road Arlington, VA 22201- $989,900 Open Sunday 1-4pm

1121 Arlington Blvd. #507 Arlington, VA 22209- $289,000 Open Sunday 1-4pm