Single Family vs. Duplex --- Where Did the Price Difference Go?

One of my readers asked a great question --- essentially, why do some city duplexes seem to be selling for just about as much as similar single family homes. Let's take a look, starting with a few examples of somewhat pricey duplexes . . .

Duplexes	Single Family Homes
390 Hickory Grove Meadow Pointe Village 2 BR / 2 BA / 1,557 SF $228,500 244 Emerald Drive Emerald Drive Estate 2 BR / 2 BA / 1,392 SF $239,900	1961 Russell Drive Skyview Estates 3 BR / 2.5 BA / 1,544 SF $229,900 1361 Stonechris Drive Westfield 4 BR / 2 BA / 1,675 SF $214,900

These are just a few examples, but one thing that becomes clear is that there are quite a few city duplexes (many one-story, with only 2 bedrooms, without significant square footage) that are selling for similar prices to relatively new single family homes. What is the explanation? Here are some of the likely contributing factors:

• many of the duplexes are in great locations (either surrounded by single family homes, or close to shopping and employment)
• many of the duplexes have upscale interior features
• many of the single family homes are in less desirable locations (near old,or less expensive housing, not ideally situated relative to shopping and employment)
• many of the single family homes lack any upgraded interior features

I think both types of properties sell because some buyers focus on location and quality interior features (and go for the duplex), and some desire the most functional space for the money (and go for the single family homes).

Of note, here are several newer duplex developments fitting the profile mentioned above: Cullison Creek | Emerald Drive Estates | Meadow Pointe Village | Southside Heights | Spring Oaks | The Glen At Cross Keys