The current uptick in prices is affecting all markets. I bought an unremarkable bungalow in South St. Louis for $72k in 2016 and sold it for $135k in 2020. Zillow says it's worth $150k now. That's still a relatively cheap house, but the houses that were $150k in 2016 are now $250k. These are big jumps for an unfashionable neighborhood in a Midwestern market.
> The current uptick in prices is affecting all markets
Maybe, but not all markets equally, and not all market segments equally. I bought my townhouse in 2015 and Zillow says it's now worth 8.6% more than I paid for it.
I don't know the numbers but a buddy of mine who bought a 1-bedroom condo in 2008, and then ended up starting a family, has been renting it out for years since he's underwater on it. I would have thought the past year would have gotten him to the point where he can finally break even and get rid of it, but apparently not.
I think this has always been the case, but especially in COVID times, single family homes seem to be outgaining townhouses, which are outgaining apartment-style condos.
