The Beckley Real Estate Market continues to be on fire.  Inventory available continues at historic lows with only 2.6 months worth of homes available compared to 5.5 months one year ago, even though new listings increased 54 homes to 129 compared to 75 one year ago.

Median and Average Home prices were up 22% and 19% year over year. Average Days on the Market (DOM) fell a modest 5 days from 150 to 145.  Deeper analysis of DOM data shows homes in certain price ranges are selling much faster, especially in the $300,000 to $399,000 range, down from 170 days to 47 days.

We see these trends continuing due to several factors such as low interest rates, low rates of new home construction due to increasing material prices, increase in demand from millennials  buying there first homes and others upgrading there homes as they work more from home and are willing to move farther from work.

Homes going under contract on the first day for full price are becoming more common while bidding wars not seen since the early 2000's are starting to erupt more.  If you are ready to list your Beckley Real Estate For Sale, get Beckley's #1 Realtor Betty J. Moore & Associates to list it for you.  Call us now at 681-254-5200 to talk to a Real Estate Direct Marketing Specialist now!

 

  Mar-20 Mar-21 +/- %
         
UNITS SOLD                      76  95               19.00  125%
UNITS AVAILABLE FOR SALE                    417  248                 (169) 59%
MONTHS INVENTORY AVAILABLE                     5.5                        2.6                 (2.88) 48%
+ HOMES MADE AVAILABLE FOR SALE                      75                       129               54.00  172%
MEDIAN  $         104,182   $           127,000         22,818.00  122%
AVERAGE  $         131,182   $           156,061         24,879.00  119%
DOM                    150                       145                (5.00) 97%
DOLLAR VOLUME RESIDENTIAL  $      9,969,850   $      14,825,750    4,855,900.00  149%
         
         
Key DOM Data        
Price Ranges        
140,000 - 159,999 125 69              (56.00) 55%
160,000 - 179,999 108 115                 7.00  106%
180,000 - 199,999 203 133              (70.00) 66%
200,000 - 249,999 114 137               23.00  120%
250,000 - 299,999 183 146              (37.00) 80%
300-000 - 399,999 170 47            (123.00) 28%
500,000 - 749,999 283 71            (212.00) 25%