The new townhomes in the Magnolia Village are nearing completion but so far it appears only one has been sold. The 15 townhomes are on the market for $1,200,000. Back in August we reported that developer and Magnolia resident Tim McHugh was nervous about the market and as we all know economic conditions have not improved since then.
Recent reports indicated that home sales actually were up in September even though prices were down.
The townhomes located across the street from Bartells in The Village feature three bedrooms, four bathrooms and private elevators. They were featured in a tour of new construction in Magnolia last month but it seems none of the units have sold in the past two months.
No word on an official opening date for the townhomes.