Townhouses (and duplexes and condos) finally increasing in value


Townhouses (and duplexes and condos) finally increasing in value
By Scott Rogers • October 12, 2017
We've been waiting a few years for this. Attached homes -- townhouses, duplexes and condos -- have not seen much of a change in median sales price over the past three years. In fact, the median sales price declined slightly in 2016 after staying unchanged at $151,750 between 2014 and 2015. But now, we're seeing a (YTD) median sales price of $159,000 -- which is 6% higher than last year. This is a welcome sign of some price recovery in the "attached dwelling" category -- and in some ways it is just surprising that it took so long, as there has been a steadily increasing demand for these types of properties over the past six years. The number of these properties selling per year has increased from 179 in 2011 up to 331 last year -- which is an 85% increase. Read more about our local real estate market in my most recent monthly market report by clicking on the cover of the report below.... Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? 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
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 23, 2024 (unless otherwise noted).
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