Townhouses (and duplexes and condos) finally increasing in value

We've been waiting a few years for this.  Attached homes -- townhouses, duplexes and condos -- have not seen much of a change in median sales price over the past three years.  In fact, the median sales price declined slightly in 2016 after staying unchanged at $151,750 between 2014 and 2015.  But now, we're seeing a (YTD) median sales price of $159,000 -- which is 6% higher than last year.

This is a welcome sign of some price recovery in the "attached dwelling" category -- and in some ways it is just surprising that it took so long, as there has been a steadily increasing demand for these types of properties over the past six years.  The number of these properties selling per year has increased from 179 in 2011 up to 331 last year -- which is an 85% increase.

Read more about our local real estate market in my most recent monthly market report by clicking on the cover of the report below....