Will We See Modest Sized New Homes Built Anytime Soon?


Will We See Modest Sized New Homes Built Anytime Soon?
By Scott Rogers • October 26, 2018
Between 2000 and 2012, three centrally located townhouse developments were built in Harrisonburg: Avalon Woods = 141 townhouses (circa 2001-2005) Beacon Hill = 253 townhouses (circa 2000 - 2012) Liberty Square = 220 townhouses (circa 2005 - 2012) Some of these townhomes were purchased by investors. Some were purchased by folks who have since sold and left the area. Some were purchased by folks who have since sold and bought a new, larger home, in or near Harrisonburg But I believe a lot of the original (or second) owners of these 614 townhouses are now looking around Harrisonburg wondering where they will, where they can go next. I believe our market desperately needs mid sized detached homes to be built, as these many townhouse owners are now older, often have started a family, and are looking for more space -- but can't jump up to buying a $350K to $400K home. What might these mid sized detached homes look like? Perhaps.... 1750 SF, 3 bedrooms, 2.5 bathrooms, one-car garage 1950 SF, 3 bedrooms, bonus room, 2.5 bathrooms, one-car garage 2150 SF, 4 bedrooms, 2.5 bathrooms, two-car garage So -- who is going to build them? And where can the be built? In many conversations I have had lately, one of the main challenges is finding land that can be purchased at a price that will allow for the development and construction of this type of housing without making them $350K homes. Note: This was written a year go -- and republished today -- and sadly, I don't think much has changed or improved over the past year. 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 24, 2024 (unless otherwise noted).
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