It seems to have now migrated to the South. I listed a Town home I purchased 2 years ago and never lived in. It was not an investment property but where we intended to live after selling our home in MA. We have since changed our minds and decided to stay closer to family. The Town home has been listed for almost 3 weeks and has not even been shown despite it being priced below comparable units sold recently (since June). It's puzzling because the home is in an area of NC with ultra low taxes and the home has tons of upgrades. Fortunately we have no mortgage on the place and don't need the money for the new place but this is a bit unsettling.
In S Florida the market is dead. There are no buyers even if the asking price is below market. There’s no market. People are renting their places out instead of selling, or they’ll rent them out while they’re listed.
Seems to be a glut of townhomes in NC these days. They sold really well in ‘03-’05 and just built too many too fast. The larger ones where I live with basements sell really quick, as do the end unit ones. The smaller ones in the middle have sat for a really long time however (6-9 months). Great choices available for a FTHB now though if you want a townhome.