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The Museum District Real Estate Report

By
Real Estate Agent with Lott Realty Group at Rashkind Saunders & Co.

The Museum District Real Estate Report: 1st Quarter 2015

 

It seems I get questions every day from clients and friends about real estate the Museum District, so I’ve decided to create a quarterly report and share with those that are interested. For this initial report, I’ll be reporting on only single family homes, which does not include condos.  I hope to add condo sales some time this year. Data was extracted from CVRMLS.

 

I’ve talked about how H-O-T the market is in the Museum District, so here are the numbers for  2015 Q1 SOLD Single Family Home Sales:

  • Homes sold/closed: 10
  • Average DOM (Days on Market): 18
  • Average List Price: $318,695
  • Average Sold Price: $317,995
  • Average Size: 3 bedroom/1.5 bath/1,597 square foot
  • Average Price Per Square Foot (Finished): $199.26
  • Highest Sale: $514,000

 

A few things to take note of:

  • Check out how close the average list price is to the average sell price.  That means most are getting very close to asking price and there were 2 that got over list price.  Lots of multiple offers!
  • Only 10 homes sold- the demand is so much greater than that.
  • While average DOM is 18, there were 6 of the 10 sales that were under contract in less than a week.
  • There were another 12 homes that went under contract (but have not closed).  Those have an average DOM of 13. 
  • And at the end of quarter, there were only 3 homes on the market. Click here for those listings

 

As we are getting into the Spring selling season, we hope (or maybe even pray?) to see the number of available homes for sale increase in the Museum District.  But there will still be a greater demand than supply- A sellers market! When I take clients to see homes in the Museum District on the first day they come on the market, there are always multiple showings going on at the same time.

 

 

If you’d like to know what the resale value of your home is in the Museum District, please reach out to me- Shane Lott with the Lott Realty Group at Keller Williams.  Experience my passion for real estate and the Museum District. 

 

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