Condos once usually appealed to those who couldn’t afford homes. Now, with luxury models, some choose them over owning a house.
A condo owner can spend their free time working out, traveling and entertaining.
Search For Condos For Sale in Newport News
Some of the new condos that have hit the Peninsula market in recent years are more spacious and expensive than some houses. The Point at City Center’s condos cover more than 2,300 square feet.
The latest luxury condos to hit the market on the Peninsula are different from those that have been on the Peninsula for years.
Ten years ago, the typical condo buyer was someone who was buying his or her first home, was limited in money or was interested in its maintenance-free perks.
Now it’s the other way around.People can afford whatever they want, and they’re choosing this lifestyle.”
Sales of condos were down 19.5 percent across the Peninsula between 2007 and 2008, but the median sales price — where half sell for more and half for less — is up 12.8 percent, from $174,900 to $197,245, according to information provided by ( REIN) The Real Estate Information Network Inc. The sales statistics don’t differentiate between existing condos and new construction.
The Peninsula’s newest luxury-style condos include H2O in Hampton and Windy Knolls, Patrick Henry Place, Villages of Stoney Run and The Point at City Center, all in Newport News.
“I think the market in 2009 and upcoming years is going to be really good for luxury condominiums because a lot of consumers are looking for less work and to spend less time and maintenance on single-family homes and want to have something that’s going to allow them to have more time to themselves
Luxury condos appeal to various buyers, from busy professionals and couples who don’t want to mess with home repairs to empty-nesters tired of residential upkeep — but who don’t want to sacrifice the perks that they became accustomed to in their single-family homes.
Everyone from single professionals that are on the go a lot or who travel a lot for
work to couples who have had the big glamorous home and don’t want the upkeep are buying condos.
When couples have time off together, they want to be together. They don’t want to be out mowing the grass.
The Point offers lofts — a studio-style condo — for about $200,000, as well as one- and two-bedroom units. The top-of-the-line unit at The Point at City Center is the $529,000 penthouse. With three bedrooms, three baths. It has a sunroom (and) a huge gourmet kitchen that can hold a table for eight.
It also comes with dual master suites, and the third bedroom makes a great guest room, office or workout room.
Many choose The Point at City Center because it’s amid a hub of retail and restaurants at City Center at Oyster Point.
You can enjoy the view from their second-floor condo — overlooking the shops and restaurants that line Merchants Walk — and the activities put on by the City Center and The Point’s management.
Location:
Located in the Heart of the Mid Atlantic:
City Center at Oyster Point conveniently located just one hour from Richmond via Interstate 64 and just two and a half hours from Washington, D.C. via Interstates 64 and 95. A short drive away is the Outer Banks of North Carolina.
facts about City Center Newport News Va
- 52 Acre, high density mixed use development on the Virginia Peninsula – Newport News, VA
- Marriott Hotel and Conference Center
- 230,000 Sq. Ft. of Retail Shops and Restaurants
- 500 Residences
- 1,000,000 sq. ft. of Class A office space
- You can search all condos for sale in Newport News, Hampton, Poquoson, York County, Yorktown, Langley AFB, Fort Eustis, Williamsburg, Va Beach, Norfolk, Suffolk, Smithfield Isle of Wight, Chesapeake VA and all surrounding areas here.
John Womeldorf is Mr. Williamsburg, sharing his thoughts, real estate expertise, and “all things Williamsburg” in an effort to spread the word that Williamsburg and Hampton Roads, Virginia is the greatest place on earth to live!
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