Less grass to cut, an easy walk to town, and community amenities like swimming pools, game rooms, libraries, tennis courts and gyms…With perks like these, it’s not difficult to see why townhome communities have been a popular real estate option since the 1980s. At that time, they were especially appealing to first time buyers and young couples looking for manageable and affordable “starter homes”.
Fast forward a few decades, and the demand for townhomes is at an all-time high, as the benefits of simplified living has gained even broader appeal. Dave Marcolla of Keller Williams Real Estate - Newtown notes that while young, first-time buyers still comprise a healthy percentage of the market, busy executives, families, singles, and empty nesters are all drawn to these thriving communities. “Basically, townhomes are really popular with almost all groups of buyers now”, he says, “….except, of course, those that don’t want neighbors and love lots of land!” Dave believes the increasing popularity of townhome communities stems from changing lifestyle patterns. “Maintenance free living is the number one driver of this trend. Whether buyers are physically unable, too busy, or just not interested in property and grounds maintenance, many people love the idea of townhouse living.” Dave also lists affordability and the trend towards minimalism as other important factors, “Right now, less is more. From tiny houses to people living off the grid, more and more, people are realizing they don’t need as much “stuff” as they once did, so many folks are downsizing.”
While typical townhouse communities remain popular, recently there has been a surge in the development of luxury townhomes. Priced at over $750k, with some reaching beyond the $1M price point, luxury townhomes mimic the space and feel of single family detached homes. They can be surprisingly large - often providing in excess of 4000 sq feet of finished space - with open floor plans, ample windows, dramatic ceilings, full basements, and high-end finishings. Newtown Walk in the township and Newtown Station in the borough are great examples of these types of communities. They offer more privacy than traditional townhomes, little to no maintenance or upkeep, luxurious interiors, and a walkable, friendly community.
Dave believes the popularity of townhome living is here to stay. In 2020, 161 townhomes were sold in Newtown (roughly 60% of all homes sold), ranging from between $230k and $950K. “I think the trend will continue, especially now that the lifestyle is also becoming appealing to city dwellers who once lived in apartments so that they could be close to work. Now they can live wherever they’d like, work from home, enjoy life in the “burbs” at a reasonable cost and little to no maintenance. Based on what we are seeing, I believe that interest in these neighborhoods will continue to grow as more and more people see the benefits and these communities continue to add new innovative amenities for their residents.”
Bio
Dave Marcolla is a PA & NJ Licensed Realtor and principal of the Dave Marcolla Group. In 2019 and 2020, Dave was the #1 producing agent at Keller Williams Newtown. He holds an MBA from La Salle University, serves as President of the Newtown Business Association and the Assistance in Healthcare Foundation Philadelphia and is Vice Chair of the Board of Directors at Cancer Support Community Greater Philadelphia.