$10,000 Closing Credit*
$1,100,000
3,118 SqFt
4 Beds
•2 Full Baths, 1 Partial
Steven Sanderson, Listing Office: Real Broker LLC
Is The Fan, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, The Fan has remained a Seller's Market.
Key Takeaway
The Fan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in The Fan, VA
How much do homes in The Fan, VA cost?
Median Sold Price
$675,000
$338/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$27,100(+4.2%)
Key Takeaway
Homes in The Fan have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in The Fan was $675,000 in November 2024, up 4.2% from last year, and the median price per square foot was $338.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | $235K | +17.5% |
| 2 Bedrooms | $347K | $360K | +3.7% |
| 3 Bedrooms | $759K | $712.5K | -6.1% |
| 4 Bedrooms | $900K | $1.0M | +11.1% |
| 5+ Bedrooms | $1.3M | $1.5M | +10.1% |
Summary: The Fan housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.5%, 2 bedroom homes increased by 3.7%, 3 bedroom homes decreased by 6.1%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 10.1%.
Housing Supply in The Fan, VA
How many homes are available in The Fan, VA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 59 | 53 | -10.2% |
Summary: The The Fan real estate market had 53 homes for sale in November 2024, a 10.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 17 | 15 | -11.8% |
| 3 Bedrooms | 25 | 24 | -4.0% |
| 4 Bedrooms | 14 | 9 | -35.7% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The The Fan housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes decreased by 4%, 4 bedroom homes decreased by 35.7%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 14 | -17.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in The Fan, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in The Fan in November 2024, down by 17.6% month-over-month. Of the 14 sold homes, 29% were sold under asking, 21% were sold at asking, and 50% were sold over asking.
Days on Market for The Fan, VA
How long does it take to sell a home in The Fan, VA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 20 Days | 13 Days | -32.6% |
Summary: Homes in The Fan had an average of 13 days on market in Nov 2024, down by 32.6% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in The Fan are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 14 homes were sold in The Fan; 93% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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