Single Homes Sold At About 41% Lesser Than Asking Prices In West Virginia
The home prices in West Virgina have finally balanced out after months of uncertainty. The year 2012 saw a huge increase in prices for condos from $140000 to $ 160000. On the other hand, single home prices stayed pretty much the same in the same year at about $195000. The single family houses and condos constitute of about 48% of the West Virginia Real Estate market and are therefore its pillars. While condos and town houses have been selling at an all time high, buyers can breathe a sigh of relief when it comes to single family homes. Over recent months, the sale of a single family home has been around $125000. This is about 41% lesser than the asking price. There are a few things to note about West Virginia. If the average income of a town here is $20000, the average price for a home will be about $60000. If it is closer to $40000, the community is very secure, safe and comfortable to live in. In places with average income hovering around $ 70000, the crime rates and divorce rates are very high.
Current Real Estate Trends In West Virginia
The West Virginia Real Estate is forecasted to perform at par with the rest of the country in the year 2013. There has also been a prediction of an increase in home prices in the state by about 0.17%. The largest increase in average home prices has been in Hurricane. Other cities to experience an increase are Charleston and Berkeley Springs. On the other hand, there has been a drastic fall in average home prices in Saint Albans. South Charleston and Martinsburg have also witnessed falls. The best cities in the state for families are Teays Valley, Martinsburg, Weirton, Saint Albans and Clarksburg. On the other hand, singles prefer Morgantown, Huntington, Wheeling and Fairmont.