Center Grove Townhouse Owners Deciding To Rent vs. Sell
I had a meeting yesterday with a buyer who is interested in purchasing a townhouse in the Center Grove. She came to us because she had been looking for quite some time on her own and was frustrated with the lack of inventory on the market. I explained to her that in the last year there has been a huge reduction in the amount of newer 3 bedroom/2.5 bath townhouses for sale. Some have sold but a large majority of owners decided that it made more financial sense to rent as opposed to sell. In the current rental environment these newer 3 bedroom, 2.5 bath townhouses are commanding up to $3,800 per month. These rental figures are hard to ignore for many owners who would potentially lose money on their townhouse if they decided to sell.
That being said, inventory levels are so low that sellers will see a lot of activity should they decide to place their townhouse on the market for sale. Below are the closed townhouse sales so far in 2012. 2982 Virginia Street was my listing which we closed in early January.
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