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I WARREN & ASSOCIATES <br />LandDesign, Inc.: Harrisburg Area Land Use Plan <br />(W 5.3 Townhouse Residential Market <br />5.3.1 Townhouse Closing Trend <br />There were 242 new townhouse closings in Township 1 between 2003 and September 2009, <br />averaging 40 units annually (Table 12). New townhouse closings were primarily located in the <br />Harrisburg Town Center development. Resale closings began in 2005, after the residential <br />portion of Harrisburg Town Center was completed. <br />Table 12: Annual Townhouse <br />Cl osings, Township 1, 2003 -2009 <br />2003 <br />86 <br />0 <br />86 <br />100.0% <br />2004 <br />60 <br />0 <br />60 <br />100.0% <br />2005 <br />53 <br />10 <br />63 <br />84.1% <br />2006 <br />41 <br />47 <br />88 <br />46.6% <br />2007 <br />2 <br />28 <br />30 <br />6.7% <br />2008 <br />0 <br />24 <br />24 <br />n/a <br />2009(YTD) <br />0 <br />24 <br />24 <br />n/a <br />Note: 2009 YTD data through September. <br />Source: Land Matters, M.O.R.E Data <br />5.3.2 New Townhouse Closing Price Trend <br />Average new townhouse closings prices in Township 1 ranged from $115,942 in 2003 to <br />$137,750 in 2007, an increase of 18.8% (Graph 11). There have been no new townhouse <br />closings in Township 1 since 2007. Unlike the overall price premium for single - family houses in <br />Township 1, townhouses have generally sold at or below Cabarrus County averages. <br />March 2010 APPENDIX D: HALUP MARKET ANALYSIS 21 <br />AUGUST 2010 <br />Attachment number 2 <br />G -1 Page 430 <br />r�ranh 11 • Now Tnwnhniiea Cincinn Pricae <br />