Jefferson County, West Virginia real estate market saw some changes from August 2022 compared to August 2021. The chart above shows the following:
Average days on the the market have increased from 21 days to 25 days.
105 Units sold compared to 99 units in 2021.
Average sold price increased by 1.28%.
Average List Price went up by 1.74%.
Detached Average sold price decreased by -1.13%.
Attached Average sold price increased by 12.58%. Townhomes/Condos are selling for more.
More Detached homes sold than Attached homes
Jefferson County, WV real estate market had 167 Active Listings in August compared to a 5 Year Average of 202. August 2022 saw 1.6 month supply of homes which is below the 5 year average of 2.5 months of supply.
The above graph shows that August 2022 and August 2019 had similar closed and pending sales. August 2020 saw the biggest sales volume in a 5 year period.
Real estate in Jefferson County, WV in my opinion is normalizing just like the rest of the nation. Buyer's have more time to think before making an offer. In most cases, they can offer a little less than asking price on a home. Buyer's are also able to ask for home inspections, well inspections, septic inspections and wood destroying insect inspections. Homes are selling and prices are stabilizing. If you sat out during the last two years of multiple offers and unable to obtain a home, now would be a great time to buy.
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