Entry-Level Townhomes start to Linger

November 9, 2022

With interest rates at 7% or more we are seeing the inventory of townhomes grow even in the slow fall market.  Many townhome associations do not allow rentals.  Thus this is one of the few home markets where first-time buyers do not have to compete with investors.  I am seeing many price reductions on these units before they are selling.  As always, the good ones sell quickly but many nice properties are on the market 30 days or more.  This is the time of year where sellers usually list the property because they need to move either for work or other matters.  They need to sell. For more information on how to take advantage of these market conditions contact me.