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Welcome to The Stillwell Group Market Update. I’m Lee Stillwell.
If you’re considering buying or selling residential real estate, it’s essential to understand the current market trends.
According to Bright MLS, the marketplace for Arlington, VA residential properties, here’s what happened in June Vs May 2024:
The number of sold listings decreased by 14% to 76 properties with a top sale of $3.9 million at 3580 N Powhatan St
The Average Sales Price decreased by 6% to $1.33 million, and the Average Price Per Square Foot is $512.
The inventory of properties available for sale is measured in months’ supply, and it increased by 2% to 1.47 months’ worth of properties for sale.
The 30-year fixed mortgage rate is at an average rate of 6.8%, according to Freddiemac.com
If you’re thinking about buying or selling residential real estate now or shortly, it’s essential to seek the guidance and advice of a professional real estate agent.
Thanks for tuning in. We’ll see you at the next Stillwell Group Market Update.
