Well folks ... 2015 is a wrap!
We are well into 2016 and, oddly enough, getting prepared for the spring real estate market, which is just around the corner. But as we march forward through winter, I think it's always important to know where you've been ... to really know where you are going. This seems to be even more important in real estate. So for all those owners and lovers of Fan real estate, here's how what happened in the Fan real estate market (for single family homes) in 2015. As most of you know, I normally do quarterly updates, so I've also included 4th quarter stats.
|
Q4 2015 |
2015 |
Number of Homes Sold |
26 |
116 |
Average Sales Price |
$541,460 |
$564,782 |
Average Price Per SF |
$199 |
$207 |
Average Sale to List Price |
99.3% |
98.4% |
Average Size |
2,718 SF |
2,730 SF |
Average DOM |
43 |
41 |
Highest Sales |
$803,000 |
$2,225,000 |
Lowest Sale |
$255,500 |
$200,000 |
All and all it was a Fan-tastic (sorry, I couldn't resist) year for residential real estate in the Fan. All signs say that 2016 will be just as strong. While it can be frustrating for buyers, limited inventory has helped our values rise steadily. Yes, interest rates have gone up and will likely go up again. But for those of you that have been at this a while, you know that they are still really low.
Can't get enough of Fan real estate? Are quarterly updates not enough? If so, you'll want to follow the Fan District Real Estate Facebook page. We do weekly market updates in addition to things happening around the Fan. 
If you are considering selling your Fan home, reach out to someone whose passion matches their experience in the Fan. Contact Shane Lott at Lott Realty Group at Keller Williams at (804) 382-8352. You are sure to find her trekking through the Fan neary every day.
Cheers and Happy New Year!
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