If you’re in the market to buy or sell a townhome, then now is the time. These are super popular properties right now because they bridge the gap between a house and a condo — boasting the function and feel of a home and the benefit of a lower price point.
Here are the things you need to know:
- If you’re a seller, there’s a record low amount of inventory, meaning demand is incredibly high
- If you’re a buyer, buckle up and get ready to write the offer. Play to win – the more organized you are with your finances and timelines, the more successful you’ll be.
- If you’re a buyer, make sure to get your mortgage fully approved so you don’t have a financial condition. This will help you to beat out other offers!
- Currently, there is a 96% absorption rate (meaning the rate at which homes sell), meaning 9.6 out of 10 homes are selling per month.
- The average price YTD is +7.2%, new listings are down 42% and days on market is 22 days
