2017 was a FAN-tastic year- Fan District Real Estate -  Well maybe the title is a little deceiving. It should probably say, "2017 was a FAN-tastic year for Fan District Real estate ... if you already own property or were selling your Fan home." If you were/are trying to buy a home within the Fan, it could have been a challenging year.DATA JUNKIESo as we wrap up another year, I always like to sit back and take a look at the market with my data-glasses on. And you all know that I love me some data! Throughout the year I've watched prices rise with limited inventory, but it's not until I sit down and run the numbers that you get the full story. 2017 HIGHLIGHTSAverage Sales Price INCREASED $44,403 / 7.3%, Average Price Per Square Foot INCREASED  $12 / 5.5%  Days on market INCREASED by 2 day... 01/17/2018

Fan District Real Estate Report: Q3 2017 We've officially breezed into October! With that,  here is the much anticipated Fan District Real Estate Report.  For all you fact checkers out there, it's only for single family homes and does not include multi-family or condos. JUST THE FACTSSource: CVRMLS  INVENTORYI'm starting to feel like a broken record! Low inventory, low inventory, blah, blah, blah. Did I mention that inventory is still low? We keep wondering when the market is going to shift, but we haven't seen it (yet) in the Fan.  For now, demand is high and inventory is low.  So your high school economics professor was correct ... prices are up!Right now there are only 7 homes available in MLS. Prices range from $389,000 to $1,699,500    WHAT YOU CAN'T SEEWhat you can't see in all th... 10/03/2017

2016 Q1 Fan District Real Estate ReportSpring is finally in the air here in the Fan District in Richmond, Virginia- and it looks like it's here to stay!  As I stop to catch my breath for a second, I wanted to share the sales figures for the first quarter of 2016.   FAN DISTRICT SINGLE FAMILY HOME SALES: As we are well into the Spring market now, 46 DOM (Days on Market) might not seem that impressive. But like most things, the devil is in the details.  There were a number of homes that took in excess of 100 days to sell, which brought up the DOM figure. DAYS ON MARKET VS. HOURS ON MARKETCurrently we are seeing homes that are price well, in good condition going under contract in days, and sometimes within in hours after the first showings.  It is not uncommon to see multiple offers very q... 04/18/2016

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 ... 01/13/2016

Q3 Fan District Real Estate Report There is a cool breeze in the air and we are starting to see a few pumpkins around the neighborhood porches. That must mean that it is Fall in the Fan District in Richmond, VA!  Slowly (but not slowly enough) we'll head in to the holiday season.  Here's a quick recap of what happened last quarter in Fan District real estate (via CRMLS data): The Fan District real estate market continues to be strong and steady, with price price per square foot rising and Days on Marketing decreasing. All FAN-tastic signs!  Now that the summer season is over, I'd expect things to slow down just a little.Additionally, there were 14 pending (aka under contract) homes in Q3.   There are currently 24 active listings in the Fan. Click here to see all the active Fan listings.... 10/06/2015

 Joe's Inn in the Fan DistrictI'm trying something new out ... spotlighting a local business.  They say write about what you know so this should come pretty easy, right? Every few weeks, I'll transition my traditional real estate blog to highlight a local business.  Ironically I'll start with Joe's Inn in the Fan District, which is a weekly tradition for me and my family.  But I promise that I'll venture out of the Fan and City into the counties for the next blog.  Maybe even away from restaurants? That might be difficult for me so no promises on that one. While many restaurants and bars come and go in the Fan, Joe's Inn has been a staple in the Fan since ... well, forever? They've got a slightly subtle  location at 205 N. Shields (across from Shields Market) which is between Hanover an... 09/15/2015

Fan Homes: Q2 2105 Fan District Quarterly Real Estate Report Goodbye Spring -  Hello Summer!  We’ve passed Memorial Day, the neighborhood pools are open, and the Greek Fest has come and gone ….so I think we can safely say we we’ve hit summer in RVA.  And maybe the frenzied rush of the Spring real estate market will be kinder to all the buyers out there?  Well .... that might just be wishful thinking.   I know everyone is excited about watermelon, back yard BBQ’s … and the Q2 2105 Fan District Quarterly Real Estate Report from the Lott Realty Group.    Here’s how things stacked up for the 2nd Quarter in the Fan District (for single family homes):  39 homes sold (up 16 from Q1) Average Price: $584,314 (almost the same as Q1) Average Percentage of List Price: 97.7% Average Price per SF: $2... 06/02/2015