Real Estate Market Update: Townhouses In Center Grove
There have been approximately 11 townhouses sold in the Center Grove in the past 3 months. Depending on location, condition and age the sales have ranged from $260,000 (a short sale) all the way up to $475,000. I know many of the townhouse owners in Center Grove have been very frustrated about the state of the market and the loss in value since the boom and this segment has certainly been one of the slowest to recover.
In the past 3 months we have not seen a sale over $500,000 or $221.00 per square foot for any of the newer construction 3 bedroom townhouses. Last year there were almost 10 sales over $500,000 in the Center Grove with the highest “sale price per square foot” coming in at $311.00 for a townhouse on Peachy Street.
Just when it seemed that things were looking up for the Center Grove market it seems that the area has taken a step backwards. This is bad news for sellers but presents an opportunity for buyers to get in before the window closes.
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