The mid sized homes that ARE being built


The mid sized homes that ARE being built
By Scott Rogers • October 30, 2017
Last week I spent some time discussing the market need that I perceive for mid sized detached homes in or near the City of Harrisonburg. I went further, to suggest that these might be 1750 - 2150 SF homes for less than $300K. Thinking further about it over the weekend, I think it is important to note that there are actually SOME homes being built that meet these criteria. Below are the three homes that sold with these specs thus far in 2017.... 1240 Cottage Lane (just outside Harrisonburg) 3 BR / 2.5 BA / 2336 SF / $275,230 246 Dylan Circle (Bridgewater) 4 BR / 2.5 BA / 1818 SF / $247,000 [no photo available] 395 Acme Company Street (Broadway) 3 BR / 2.5 BA / 2257 SF / $277,000 And if we relax the criteria a bit, down to 1600 SF, we pick up a few more.... 365 Coyote Run (Broadway) 3 BR / 2 BA / 1600 SF / $$222,500 2587 Calico Drive (Broadway) 3 BR / 2.5 BA / 1639 SF / 5 Acres / $249,100 190 Grouse Drive (Massanutten) 3 BR / 2 BA / 1700 SF / $287,500 So, clearly, none in Harrisonburg proper, and most quite a ways from Harrisonburg -- and most importantly, VERY FEW homes at all that are being built and sold in this price range (under $300K) with these specs (1600+ or 1750+ SF). Switching, then, to what is currently available -- we find three options under $300K with 1750+ SF for buyers currently in the market.... 265 Dylan Circle (Bridgewater) 4 BR / 2.5 BA / 1808 SF / $246,900 4150 Tanners Court (just outside Harrisonburg) 3 BR / 2 BA / 1830 SF / $279,900 1250 Cottage Lane (just outside Harrisonburg) 4 BR / 2.5 BA / 2266 SF / $299,400 So, indeed, extremely limited options for new homes under $300K with 1750+ square feet in or near Harrisonburg. This brings me back to my same conclusions as I mentioned last week, and I'll mention again here.... There would seem to be many buyers who would be interested in mid sized single family homes. Mid sized single family homes are not (in any significant number) being built. Because of land, development and building costs, It may not be possible to build mid sized single family homes at prices that would appeal to the buyers who want the homes. Our market presents a unique opportunity to a land owner / developer / builder (be that one, two or three different people) who can figure out to bring this type of product to market at a price that will work for the buyers who want the homes. I'll move on to new topics now, but I'll be curious to see if we see any new builders in the area in 2018 -- or current builders building new products in 2018 -- to meet this market demand. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).
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