One of the reasons why the under $200K market is inventory-challenged right now is because there is very little new construction happening in this price range.  Over the past 10-15 years we saw many new townhouse developments that (at the time) fell into that price range, including:

• Avalon Woods
• Beacon Hill
• Harmony Heights
• Liberty Square
• Parkcrest
• Taylor Spring
• The Gables
• The Townes at Bluestone
• The Townes at Wellington Park
• Twin Gables

Now, however, there are significantly fewer options available when it comes to newly built townhouses in or near Harrisonburg, under $200K....

• The Townes at Bluestone (barely under $200K)
• Cedar Point (none currently listed)
  

I think a considerable opportunity exists for a townhouse developer to build new, $170K - $190K townhouses in the City of Harrisonburg -- if it can be done!