Yes, We Need More Townhouses To Be Built!


Yes, We Need More Townhouses To Be Built!
By Scott Rogers • July 8, 2021
When you see more townhouses being built -- or when you see plans being discussed for more townhouses to be built -- you might be thinking... What!? More townhouses!? Don't we have enough townhouses!? But if you ask nearly any local Realtor who has represented the seller of a townhouse in or near Harrisonburg in 2021 they will tell you... Yes, We Need More Townhouses To Be Built! Whenever a resale townhouse comes on the market it is almost always overwhelmed with showings in the first few days on the market -- and then the offers start coming in, fast and furious. Buyers are offering over asking price. Buyers are waiving inspection contingencies. Buyers are desperate to find a townhouse to buy. But yet, when there are 12 offers on a townhouse, the seller is only able to accept one of those offers. As a result, there are still 11 would-be townhouse buyers circling the market waiting on that next townhouse to become available. As quickly becomes evident, demand for townhouses FAR exceeds supply -- so... Yes, More Townhouses Need To Be Built! If I dialed in a bit further on this issue, I suppose I should point out that... Many or most resale townhouses receiving excessive buyer interest are priced under $200K. Most new townhouses for sale are being offered over $200K and often over $250K. So, while it would be great to continue to see options over $250K, it would also be amazing to see new townhouse options much closer to $200K. 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 21, 2024 (unless otherwise noted).
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