Town homes are a really great option for people who are looking to have a bit more space than a condo. They have a much lower price point and tax commitment than a fully detached home and have the convenience of a strata corporation to manage their maintenance. It’s easy to see why town homes have such broad appeal.
Right now, across all cities in the Fraser Valley, there is virtually no inventory for townhomes however there is pent up demand for them. Average days on market for a townhome in the Valley is currently 17 days while fully detached homes are staying on the market for over 45.
As a Realtor this pinch on supply is palpable, it’s hard to find suitable townhomes for buyers in this market. A lot of buyers are now sitting on their hands, checking the MLS for new listings more than a 15 year old checks instagram, waiting and hoping for more inventory to come out in the spring.
If you have a nice town home that is over 1500 square feet, allows pets and has no age restrictions, you are living in a very desirable place!!
If you have been considering selling your town home and upgrading to a fully detached home now is a good time. With inventory so low in town homes and the detached home market returning to a more balanced state you are in a good position to make a net gain on your town home and roll that into a fully detach house.
If you would be interested in chatting about this please reach out, I am happy to give you some information/market analysis on your town home specifically as well as discuss any questions you may have in more detail.