It Is Hard To Find a City Home Under $200K These Days
Scott P. Rogers
I've said this (it's hard to find a City home for under $200K these days) in about 10 different ways over the past year using data.
In conversation with a fellow Realtor yesterday, while inside a house I'll reference in a moment, we reflected on this reality. If you're looking to buy a home in the City of Harrisonburg and were hoping to have a budget of $200K -- you'll have some difficulty doing so.
Just a few (4 or 5?) years ago we recalled decent single family homes selling for $180K - $200K in the City. Now days, if a home is price under $200K it is likely either tiny, or still needs some updates.
OK - reverting to what is most natural to me when thinking about real estate - here is the data to back up our observation...
Detached homes sold in the City between under $200K with 1000+ SF...
- In 2014 (five years ago) = 91 homes
- In 2018 (last year) = 54 homes
So, it's not QUITE as terrible as I described above (data saves the day from my extreme rhetoric) but there has been a significant (41%) decline in sub-$200K homes selling (or able to be purchased) in the City of Harrisonburg
In fact, today, there are only two such homes currently for sale...
I'll be listing another sub-$200K home (just barely under that price point) later today -- and I expect it may sell relatively quickly. Buyers are hungry for homes in this affordable price range and there just aren't too many options any longer.
Yes, there are plenty of townhouses under $200K, but detached homes are much harder to find in this price range.
