2015 Museum District Real Estate Sales Report

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

2015 Museum District Real Estate Sales Report

Goodbye 2015 and hello 2016!  It seems odd that as I'm cuddling up next to my toasty warm radiator, I'm already preparing for the spring real estate market.  But it's coming ... and likely sooner that than the blooming tulips.

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 Museum District real estate, here's what happened in the Museum District market (for single family homes) in 2015 and Q4:

 

 

Q4 2015

2015

Number of Homes Sold

15

62

Average Sales Price

$398,047

$374,572

Average Price Per SF

$201

$200

Average Sale to List Price

98%

100.2%

Average Size

2,010

1,930

Average DOM

34

20

Highest Sales

$657,000

$799,950

Lowest Sale

$250,000

$140,000

 

 

FORECAST FOR 2016

2015 was an outstanding year for residential real estate in the Museum District. All signs say that 2016 will be just as strong. And yes, we are still plagued with limited inventory. However, we'd expect that to pick up in the spring and into the summer.  So for all those buyers sitting on the bench getting ready to jump into the game, there's no better time than now. You've just need to be patient and ready to jump when "the one" comes on the market.  Or better yet, work with an agent who knows of upcoming listings (hint, hint!)

 

Keep in mind that along with more Spring listings, we'll also expect more buyers.  Also something to watch closely .... Interest rates.  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. 

 

MUSEUM DISTRICT REAL ESTATE FACEBOOK PAGE

Can't get enough of Museum District real estate? Are quarterly updates not enough? If so, you'll want to follow the Museum District Real Estate Facebook page. We do weekly market updates in addition to things happening around the Museum District.

 

LOTT REALTY GROUP

Are considering selling your Museum District home?  If so, reach out to someone whose passion matches their experience in the Museum District. Contact Shane Lott at Lott Realty Group at Keller Williams at (804) 382-8352. You are sure to find her trekking through the Museum District nearly every day.

Cheers and Happy New Year!

 

Comments (0)