February 2020 vs February 2021
Detached Home Sales
· 28% Decrease in Units from 57 to 45
· 37% Decrease in Marketing Time from 130 Days to 95
· 12% Increase in Sales Price from $285,060 to $319,947
Attached Home Sales
· 42% Increase in Units from 19 to 27
· 20% Decrease in Marketing Time from 122 Days to 102
· 8% Increase in Sales Price from $183,710 to $198,647
Current Market
· 215 Active Residential Properties
· 221 Contingent Residential Properties
· 2.5 Months Inventory = Seller’s Market
Takeaways
· Given these statistics highlight past activity in what is typically a slower selling period we are still very much in an active market trend. Looking at what is currently happening is also illustrative of activity continuing on this trajectory going into the spring market
· Historically, presidential election years reflect slower than usual activity in the real estate market which creates a busier than usual market the following year. Last year was a significant exception to this rule, so I am curious to watch if our statistical numbers reflect a continuation or reversal of this historic trend
· Buyers are continuing to jump into the market even considering the lack of inventory and slow increase in mortgage rates. If you are a buyer, you’ll want a professional by your side to navigate this unique time in our local real estate market. If you are a seller, you’ll also want a professional by your side as we are seeing more and more multiple offer situations and creativity in the structure of these offers
BIG NEWS!!
Please join White Diamond Realty at our EXCLUSIVE Virtual Home Fair March 27th and 28th from 1:00-3:00! If you are considering selling or buying this year, this is an amazing opportunity to ‘meet’ face to face with industry professionals such as lenders, inspectors, service professionals, and more in the comfort of your own home! And, of course, the team at White Diamond Realty will be there to answer all of your questions and get you prepared for your journey to the closing table! This is a FREE event, but space is limited. To register visit WhiteDiamondRealty.net/vhf or email info@whitediamondrealty.net.
Never high-pressure sales. Always high-quality service. Ready to elevate your real estate experience? We can be reached by phone at 304-241-7500, email at info@whitediamondrealty.net, or online at
whitediamondrealty.net. Feel free to connect with us on Twitter, Instagram, and Facebook, too! Just search and follow White Diamond Realty LLC to get updates on all things real estate and our community as a whole. Tune in next month to see what March has in store for us here in Monongalia county. Until then, enjoy the blooming flowers and chirping birds of spring…
304.241.7500
Melissa Berube, Broker
WhiteDiamondRealty.net
1399 Stewartstown Road, Suite 300 Morgantown, WV 26505
