The Long & Foster Market Minute

Focus On: Northeast West Virginia Housing Market March 2021

Units Sold
352
Active Inventory
302
Median Sale Price
$246,950
Days On Market
36
Down -6%
Vs. Year Ago
Down -71%
Vs. Year Ago
Up 19%
Vs. Year Ago
Down -43%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 352 sold this month in Northeast West Virginia Real Estate versus 281 last month, an increase of 25%. This month's total units sold was lower than at this time last year, a decrease of 6% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 745 units or 71%. The total number of active inventory this March was 302 compared to 1,047 in March 2020. This month's total of 302 is lower than the previous month's total supply of available inventory of 339, a decrease of 11%.

Median Sale Price
Last March, the median sale price for Northeast West Virginia Homes was $207,800. This March, the median sale price was $246,950, an increase of 19% or $39,150 compared to last year. The current median sold price is 3% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
516
Current Contracts
489
Sold Vs. List Price
99.9%
Months of Supply
0.9
Up 2%
Vs. Year Ago
Up 26%
Vs. Year Ago
Up 1.3%
Vs. Year Ago
Down -69%
Vs. Year Ago

Months of Supply
In March, there was 0.9 months of supply available in Northeast West Virginia, compared to 2.8 in March 2020. That is a decrease of 69% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 516 homes newly listed for sale in Northeast West Virginia compared to 505 in March 2020, an increase of 2%. There were 489 current contracts pending sale this March compared to 387 a year ago. The number of current contracts is 26% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Northeast West Virginia was 99.9% of the average list price, which is 1.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 36, lower than the average last year, which was 63, a decrease of 43%.

The Long & Foster Market Minute *Defined as the counties of Berkeley, Hampshire, Jefferson, Mineral, and Morgan in WV
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.