All are good points raised by my fellow respondents here. I just pulled some data from Breckenridge in Morrisville where I could compare 2 storied & 3 storied homes side-by-side.
Some of my observations based on data since 1/1/08 are:
The average sq ft price is around 16% lower for 3 story homes.
The average rent is around 17% lower fro 3 stories.
The average 'days on market' before sale is slightly higher for 3 stories.
The difference between 'list' and 'sold' is higher for 3 stories.
Appreciation (when compared to purchase price for the small sample I checked manually) was higher for 2 stories.
- Again, location is a very important factor. The 3 storied town homes at Stonewater by Lennar in Cary have been selling very well. Only 4 left! Also, Legacy at Carpenter Village is a good neighborhood to look for 3 storied homes, some with 4 bed rooms and 3.5 baths, with good upgrades and fiber cement siding in the very low $200's.