Reply to Any predictions for prices in town of Vienna?

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[quote=Anonymous][quote=Anonymous]In the last 3-4 years, new build prices in town of Vienna have absolutely skyrocketed. It’s pretty amazing to watch- and irritating because we are priced out. I wonder if this is the kind of thing that will reverse, because it happened SO FAST.. or if the massive price increases are more of a reflection of the fact that so many of the older homes have now been torn down and it’s not really “transitioning” anymore.

Just to shed light on what I mean by skyrocketed, 1.2 would get you a new build and now it’s more like 1.5-1.6. That’s just a lot in a very short period of time![/quote]

Prices will not reverse course, barring catastrophe. But they are unlikely to rise significantly as buyers are getting maxed out, especially with rate increases. I'd expect more of the same - continued replacement of old properties with new builds or renovations, right around the same price range as currently. Negligible increases in appreciation for the next couple years as the economy sorts itself out.[/quote]

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