Multigenerational Home Sales - Market Report May 2019

By
Real Estate Broker/Owner with ViewHomes of Clark County - Nature As Neighbors

 

Multigenerational Homes Are An Evolving Market

Multigenerational home sales are an evolving niche in the U.S. real estate market. This is true in Clark County WA as well. "Multigen" is where two or more generations decide to move back in together.

 

There are many advantages, financial and emotional. Often elderly parents move in with their adult children. This is much more desirable than a nursing home, or an independent living facility, which can be very costly. Sometimes grandparents are capable of share in child-rearing responsibilities. Everyone benefits from this arrangement.

 

 

 

Since we live in a multigen household, we specialize in finding and selling those types of homes. Our multigen homes are located on acreage or large lots. They have "elbow room for the soul", which provides lots of room & privacy.

 

 

According to the most recent 2016 study by the Pew Research Center, 1 in 5 homes in the U.S. are now multigen. Because of this trend, multigen homes will continue to be popular. Likewise, it is a good way to address caring for the elderly in a rapidly aging population.

 

Find Multigen Homes for Sale

 

Working with multigen clients can pose some challenges. In spite of the demand for multigen homes, separate living quarters are not a common feature. So you often end up finding homes that are not quite set up with separate quarters, but could be. In those cases, it takes some some ingenuity to imagine how a home can accommodate all family members. From our own experience of upgrading an existing home to multigen, we can identify those homes best suited for modifications.

 

If your family is considering a multigen home, it's important to know the market. Here is a brief Market Report for Multigen Homes in Clark County WA:

 

 

Median Days on Market was 57 days - up from 44 days in April.  But with limited inventory, multigen homes don't stay on the market very long! 

 

(Note: Report is for homes priced $400,000 and above, and does not include a spectacular $12,000,000 165-acre multigen property in Woodland, WA)

 

Interested in multigenerational home sales?

 

Multigen Buyers:
If you are looking for a home for multigen living, you can start your search here.

 

Multigen Sellers:
Call us for a free market analysis of your home's value. We are specialists in this field, and we have buyers ready to move!

 

Posted by

 

ViewHomes™ grew out of our passion for nature, beautiful surroundings, and peaceful environments. Starting together in an urban environment, over the years we've gravitated towards areas with smaller populations and less density. We now enjoy our lifestyle in a rural environment, but with close proximity to metropolitan areas where we appreciate all the amenities of fine restaurants, shopping, and an easy drive to an international airport.
Living in ViewHomes™ is like having “elbowroom for the soul”.

 

360-608-4900 

info@natureasneighbors.com
 

                                                                             

 

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Rainmaker
4,534,205
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Bernie,

Another one of you great reports on the multi-gen scene.  The awareness grows on this categry of the market.  We have a friend who is moving her mom into her home, while creating a new separate space for her in her present home.  And then they will all move in together in the mom's home, buy it and sell theirs.  A.

May 13, 2019 10:19 AM #1
Rainmaker
3,392,573
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Good morning, Debb and Bernie - walking the walk along with talking the talk are a good combination as evidence shows once again in this post.  It's not simply completing a request for a multi-generation housing list or need for an agent who can find one for them.  You show that this is an important part of your life and your real estate practice.  It makes a difference.  

May 13, 2019 10:45 AM #2
Rainmaker
3,175,143
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

That's an amazing increase in sale price over a year, Debb. Does your MLS actually have a category for multi-gen homes to search? (We don't.)

May 13, 2019 02:30 PM #3
Ambassador
1,884,996
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Nina Hollander Bernie here.  We have both a "Dual Living" and "Living Quarters in Basement" fields. So we can do searches.  But RMLS doesn't report % Price Changes.  I have to calculate that number on my own.  I also track other % Price Changes not reported in the RMLS, including waterfront property. Now that I have the spreadsheet set up, I just download the data from my searches and upload to the spreadsheet and let it do the calculations. 

Thanks for the question!

May 13, 2019 02:41 PM #4
Ambassador
1,884,996
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Oh, and on the large % Annual Increase, I see this with specialized markets like this one.  Because the Sold numbers are typically smaller, and prices have a large range, there can be a wide swing between market reports.

May 13, 2019 02:44 PM #5
Rainmaker
3,175,143
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

HI Bernie... we don't have those fields in our mls... so searching out something that can be a multi-gen house is very difficult. I understand that wide swing between market reports because I see it here in my area where there's a lot of new construction.... it depends on what sold in a particular month.

May 13, 2019 03:19 PM #6
Rainmaker
1,967,390
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Debb and Bernie- multigen has certainly come along way from "mother daugher."

May 13, 2019 03:27 PM #7
Rainmaker
3,207,816
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

Debb, We used to live in a multigenerational home, and know very well the advantages of living in one. Emotionally, it was priceless!

May 13, 2019 04:01 PM #8
Rainmaker
2,619,585
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Anyone wanting to know more about multigenerational homes would be wise to seek you out and draw from your knowledge!

May 14, 2019 07:02 AM #9
Rainmaker
3,226,028
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Debb,  always a great report from you for your area on Multigenerational homes.  Good Job!

May 14, 2019 08:55 AM #10
Ambassador
4,047,374
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Debb and Bernie:

Great information for buyers from those who are the multigen niche experts and know it from first hand experience! How fortunate you can search for these homes  in your MLS. We don’t have fields that will allow that, although the listing remarks might mention it. We do have a status for 2-unit properties.

Jeff

May 14, 2019 12:23 PM #11
Rainmaker
3,221,425
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Debb & Bernie I look at you two as the pioneers, when no one heard of Multi Generational Homes you were marketing them already, so I connect the name with the two of you, Enre

May 14, 2019 11:52 PM #12
Rainmaker
1,525,552
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Alexandria, VA
Alexandria Virginia Homes For Sale

Debb and Bernie, you not only know your niche, you live it and that is something that has always stood out to me. We are seeing more and more multi-gen purchases here. Like you see, it often takes modifying a home to make it suitable. I agree with Endre Barath, Jr. you were both pioneers in this niche.

May 15, 2019 05:06 AM #13
Rainmaker
5,462,547
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will certainly appreciate your local market reports.

May 15, 2019 06:41 AM #14
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Debb Janes EcoBroker and Bernie Stea JD

REALTORS® in Clark County, WA
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