Do Detached Or Attached Homes Appreciate More Over Time?

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Do Detached Or Attached Homes Appreciate More Over Time?
By Scott Rogers • December 28, 2020 Filed In: analysis, market
Over the past five years, detached homes have increased slightly more in price (on average, per year) than attached homes (townhouses, duplexes, condos). Detached homes have increased at an average of 6.1% per year from $200K to $269K while attached homes have increased at an average of 5.2% per year from $150K to $193K. This (detached homes increasing in value more quickly over time) wouldn't necessarily always be the case if we looked back over the past 20 years -- we could likely find time periods when this were not true -- but we have seen some larger than normal swings in home values during some of those past 20 years. My general sense (beyond the numbers) is in line with what the graph above shows -- which is that over time (5+ years) both detached and attached homes are likely to increase in value, but detached homes are likely to increase in value a bit more quickly than attached homes. Receive updates from HarrisonburgHousingToday.com via e-mail: Enter your e-mail address: Recent Articles: When Should I Start Looking For A Home To Buy If My Lease Ends This Summer? Office Building, 77 Apartments and 93,600 SF of Storage Units Proposed Amidst Residential Developments, Church, Rescue Squad and Hospital in Rockingham County There Are Usually Two Phases Of Looking For A Home January Housing Inventory Levels Sink To New Lows Will Buyer Activity Continue Full Strength In January? Maybe Some Townhouse Developments Have Fewer Homeowners (Living In Those Townhouses) Than I Thought Juniper Hill Commons, A Multi-Generational Cohousing Community Is Under Development On Keezletown Road Most Homes Sold Quickly In 2020! Not Much Negotiability In Home Prices In 2020 At Year End, Home Sales Up 13%, Prices Up 10% in 2020 in Harrisonburg, Rockingham County
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 Jan 28, 2021 (unless otherwise noted).
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