It’s pretty hard to believe just how much townhome values have gone up over the past few years. We wrote a post back in 2018 asking if “$1.5M was the new normal for new construction townhomes?” In 2015 we asked if $1.2M was the new normal and sustainable…..I guess we have our answer.
It seemed crazy at the time and unsustainable but here we are in 2023 and new construction townhomes in Redondo are averaging just under $2.0M.
If we eliminate the attached townhomes, the sales price of freestanding, detached townhomes averages almost $2.05M so far in 2023. Incredible.