Do condos & townhouses appreciate as much as detached homes?
Condos & townhouses in our area have actually appreciated at a slightly higher rate over the past few years than single family homes. This is mainly due to the fact that they are generally located in very convenient locations for commuting, and their price points are very attractive to first time buyers. For that same reason however, during a downturn, they can be harder to sell, and may experience larger price drops in that situation, as first time buyers are more likely to be dissuaded from buying in a buyer’s market.
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