Families are changing the way they live: baby boomers are taking in their parents to provide better care, millennials are enjoying the benefit of having their children grow up with grand parents in their home. This is multigenerational living, or “multigen” for short. In 2014, the Pew Research Center reported that a record 60.6 million Americans now live in multigen households. That is nearly one in 5 households. This trend continues today as the housing market responds to the demand for multigen homes.
It’s no coincidence that our specialty – view homes with “elbow room for the soul” – works well for multigen homes, too. Sometimes they come with separate living quarters, sometimes they need to be modified. We understand and live the lifestyle, so we know how to find homes suited for this lifestyle. It also helps to know what the market looks like when you start shopping for a multigen home.
67 Active Listings – $410,000 to $5,900,000
Average SQFT – 4,586
Average $/SQFT – $248
14 Pending – $500,000 to $2,650,000
Average SQFT- 3,446
Average $/SQFT – $236
47 Sold in last 3 Mos – $400,000 to $2,400,000
Average SQFT – 4,077
Average $/SQFT – $199
Median Days on Market was 41 days and inventory is extremely low. Multigen homes do not last long in this market!
If you have a home that has multi-gen features and you want to sell, call us – we are specialists in this field, and we have buyers ready to move!