West Virginia Real Estate Trends - A New Way to Look at West Virginia Realty

Recent trends in West Virginia real estate indicate that prices have evened out as buyer’s and seller’s negotiate a new understanding of the value of property in the modern economic climate. Between the end of 2011 and April of 2012, the average price for a condo or townhouse in West Virginia went from $140,000 to $160,000. Single family homes, both in and out of the city, averaged a list price of $195,000 at the end of last year and seller’s are now asking an average of $193,000. With approximately 48% of the market share, single family homes and townhouses/condos constitute the foundation of the West Virginia real estate market.

While the seller’s of single family homes and condos/townhouses have obviously high hopes for the correct price point for West Virginia real estate, evidence indicates that buyer’s still expect to get great value for their money. Over the past 5 months, the average sale price of a single family home in West Virginia has been $124,000, 41% below the average list price. In the condominium market, the average sale price is $180,000, suggesting that perhaps a number of high priced listings recently sold.