Bidding Wars over City Townhouses
Scott P. Rogers
The last few townhouses listed for sale in the City of Harrisonburg (under $175K, built since 2000) have gone under contract QUICKLY -- with multiple offers.
So far, we have not seen a wild uptick in median prices of townhouses based on this excessive demand (and limited supply) but we could start to see that at some point....
Median Townhouse/Condo Sales Price in Harrisonburg and Rockingham County:
- Jan - Dec 2014 = $151,750
- Jan - Dec 2015 = $151,750
- Jan - Dec 2016 = $149,500
- Jan - Nov 2017 = $159,000
If you are fortunate enough to own one of these -- and be in the market to sell it -- you should not have difficulty in securing a buyer.
If you are unfortunate enough to want to buy one of these -- bid early, bid aggressively, and if you keep missing out on properties, be prepared to bid often.
