Real Estate Information Archive

Market Statistics for July 2010 Eastern Panhandle WV

Tuesday, August 10, 2010

by Andrea Burke

The numbers are out for July 2010. As predicted, they are down from what they were when the first time home buyers and "repeat buyers" were earning tax credit by being ratified 4/30/10 and closing by 6/30/10. The closing deadline has been extended to 9/30/10, but only for those existing contracts - didn't open any new windows for anyone.

Interest rates are at historic lows and seem to be holding steady. And prices are SO affordable for so many - hopefully potential buyers will realize it's still a GREAT time to buy!

BERKELEY COUNTY:

	2010	2009	% Change
Total Sold Dollar Volume:	$ 13,823,546	$ 17,725,005	- 22.01 %
Average Sold Price:	$ 131,653	$ 141,800	- 7.16 %
Median Sold Price:	$ 124,000	$ 144,900	- 14.42 %
Total Units Sold:	105	125	- 16.00 %
Average Days on Market:	69	121	- 42.98 %
Average List Price for Solds:	$ 145,255	$ 163,945	- 11.40 %
Avg Sale Price as a percentage of Avg List Price:	90.64 %	86.49 %

105 homes sold this month and we have 1236 listed – meaning at this rate, we have 11.77 months of inventory –up from last month at 9.69

JEFFERSON COUNTY:

	2010	2009	% Change
Total Sold Dollar Volume:	$ 10,085,904	$ 10,596,086	- 4.81 %
Average Sold Price:	$ 201,718	$ 216,247	- 6.72 %
Median Sold Price:	$ 190,000	$ 215,000	- 11.63 %
Total Units Sold:	50	49	2.04 %
Average Days on Market:	93	78	19.23 %
Average List Price for Solds:	$ 221,739	$ 238,982	- 7.22 %
Avg Sale Price as a percentage of Avg List Price:	90.97 %	90.49 %

50 homes sold this month and we have 501 listed – meaning at this rate, we have 10.02 months of inventory – up from last month at 8.1

MORGAN COUNTY:

	2010	2009	% Change
Total Sold Dollar Volume:	$ 1,522,500	$ 2,366,800	- 35.67 %
Average Sold Price:	$ 169,167	$ 157,787	7.21 %
Median Sold Price:	$ 175,000	$ 150,000	16.67 %
Total Units Sold:	9	15	- 40.00 %
Average Days on Market:	105	96	9.38 %
Average List Price for Solds:	$ 193,704	$ 183,140	5.77 %
Avg Sale Price as a percentage of Avg List Price:	87.33 %	86.16 %

9 homes sold this month and we have 343 listed – meaning at this rate, we have 38.11 months of inventory – up significantly from last month at 14.5.

If you, your family or your friends are looking to buy or sell a home, I would be honored to help them! Call me anytime at 304-261-8517.

Sincerely,

Andrea Burke

Q2 2010 Market Trends

Monday, August 09, 2010

by Andrea Burke

The market trends are out for the second quarter of 2010. This report is quite lengthly, but hope that you will find some useful information. If you have any questions, please don't hesitate to contact me. As always, I'd be honored to help you, your family, and your friends buy or sell a home in WV!

Click here for this report.

Sincerely,

Andrea Burke

Market Statistics for June 2010

Sunday, July 11, 2010

by Andrea Burke

The numbers are in for the month of June 2010. Keep in mind that 4/30/10 was the cut-off of ratified contracts to be eligible for tax credit. Closing date has been extended to 9/30/10, but most were closed by 6/30/10.

BERKELEY:

	2010	2009	% Change
Total Sold Dollar Volume:	$ 17,210,570	$ 20,962,103	- 17.90 %
Average Sold Price:	$ 143,421	$ 166,366	- 13.79 %
Median Sold Price:	$ 150,000	$ 160,000	- 6.25 %
Total Units Sold:	120	126	- 4.76 %
Average Days on Market:	79	99	- 20.20 %
Average List Price for Solds:	$ 156,427	$ 181,987	- 14.04 %
Avg Sale Price as a percentage of Avg List Price:	91.69 %	91.42 %

128 homes sold this month and we have 1240 listed – meaning at this rate, we have 9.69 months of inventory – slightly up from last month at 9.38

JEFFERSON COUNTY:

	2010	2009	% Change
Total Sold Dollar Volume:	$ 10,898,676	$ 14,279,847	- 23.68 %
Average Sold Price:	$ 178,667	$ 242,031	- 26.18 %
Median Sold Price:	$ 180,000	$ 200,000	- 10.00 %
Total Units Sold:	61	59	3.39 %
Average Days on Market:	81	124	- 34.68 %
Average List Price for Solds:	$ 198,302	$ 264,929	- 25.15 %
Avg Sale Price as a percentage of Avg List Price:	90.10 %	91.36 %

61 homes sold this month and we have 493 listed – meaning at this rate, we have 8.1 months of inventory – down from last month at 10.8

MORGAN COUNTY:

	2010	2009	% Change
Total Sold Dollar Volume:	$ 3,629,800	$ 3,359,000	8.06 %
Average Sold Price:	$ 164,991	$ 176,789	- 6.67 %
Median Sold Price:	$ 155,000	$ 160,000	- 3.13 %
Total Units Sold:	22	19	15.79 %
Average Days on Market:	96	139	- 30.94 %
Average List Price for Solds:	$ 184,863	$ 198,616	- 6.92 %
Avg Sale Price as a percentage of Avg List Price:	89.25 %	89.01 %

22 homes sold this month and we have 320 listed – meaning at this rate, we have 14.5 months of inventory – down considerably from last month at 22.

Predictions still stand strong that the wave of foreclosures and short sales will continue...making it a GREAT time to buy! Interest rates have come down even further to help boost the housing market.

If you, your family, or friends are considering buying a home - I'd be honored to help! Contact me anytime at 304-261-8517.

Sincerely,

Andrea Burke

Real estate Eastern Panhandle realtor agent re/max Martinsburg Hedgesville Inwood Bunker Hill Falling Waters Charles Town Harpers Ferry Berkeley Springs Kearneysville Shepherdstown market sales seller buyer buy sell remax Burke statistics Berkeley Jefferson Morgan County counties andrea numbers inventory property value

May 2010 Market Statistics

Thursday, June 10, 2010

by Andrea Burke

The numbers are in for the month of May 2010. Keep in mind that 4/30/10 was the cut-off of ratified contracts to be eligible for tax credit. They have until 6/30/10 to close - so May/June numbers should be excellent!

BERKELEY:

	2010	2009	% Change
Total Sold Dollar Volume:	19,148,095	17,196,795	11.35 %
Average Sold Price:	$ 149,594	$ 168,596	- 11.27 %
Median Sold Price:	$ 143,900	$ 164,500	- 12.52 %
Total Units Sold:	128	102	25.49 %
Average Days on Market:	129	108	19.44 %
Average List Price for Solds:	$ 166,450	$ 188,754	- 11.82 %
Avg Sale Price as a percentage of Avg List Price:	89.87 %	89.32 %

128 homes sold this month and we have 1194 listed – meaning at this rate, we have 9.38 months of inventory - down from last month at 11.13.

JEFFERSON COUNTY:

	2010	2009	% Change
Total Sold Dollar Volume:	$8,228,742	$8,039,942	2.35 %
Average Sold Price:	$ 182,861	$ 167,499	9.17 %
Median Sold Price:	$ 179,000	$ 159,500	12.23 %
Total Units Sold:	45	48	- 6.25 %
Average Days on Market:	85	76	11.84 %
Average List Price for Solds:	$ 198,761	$ 184,967	7.46 %
Avg Sale Price as a percentage of Avg List Price:	92.00 %	90.56 %

45 homes sold this month and we have 486 listed – meaning at this rate, we have 10.8 months of inventory – up a little from last month at 10.08

MORGAN COUNTY:

	2010	2009	% Change
Total Sold Dollar Volume:	$1,886,600	$2,507,600	- 24.76 %
Average Sold Price:	$ 134,757	$ 147,506	- 8.64 %
Median Sold Price:	$ 130,700	$ 142,500	- 8.28 %
Total Units Sold:	14	17	- 17.65 %
Average Days on Market:	112	100	12.00 %
Average List Price for Solds:	$ 145,383	$ 170,776	- 14.87 %
Avg Sale Price as a percentage of Avg List Price:	92.69 %	86.37 %

14 homes sold this month and we have 308 listed – meaning at this rate, we have 22 months of inventory - up from last month at 15.15.

Predictions still stand strong that the wave of foreclosures and short sales will continue...making it a GREAT time to buy! Interest rates have come down even further to help boost the housing market.

If you, your family, or friends are considering buying a home - I'd be honored to help! Contact me anytime at 304-261-8517.

Sincerely,

Andrea Burke

April Market Statistics

Monday, May 10, 2010

by Andrea Burke

The numbers are in for the month of April 2010. Keep in mind that 4/30/10 was the cut-off of ratified contracts to be eligible for tax credit. They have until 6/30/10 to close - so April/May/June numbers should be excellent!

BERKELEY:

	2010	2009	% Change
Total Sold Dollar Volume:	$ 80,183,568	$ 64,387,829	24.53 %
Average Sold Price:	$ 443,003	$ 438,012	1.14 %
Median Sold Price:	$ 429,900	$ 414,000	3.84 %
Total Units Sold:	181	147	23.13 %
Average Days on Market:	56	83	- 32.53 %
Average List Price for Solds:	$ 462,639	$ 477,380	- 3.09 %
Avg Sale Price as a percentage of Avg List Price:	95.76 %	91.75 %

105 homes sold this month and we have 1169 listed – meaning at this rate, we have 11.133 months of inventory - down from last month at 11.84.

JEFFERSON COUNTY:

	2010	2009	% Change
Total Sold Dollar Volume:	$ 7,714,445	$ 8,041,665	- 4.07 %
Average Sold Price:	$ 157,438	$ 187,015	- 15.82 %
Median Sold Price:	$ 150,900	$ 185,000	- 18.43 %
Total Units Sold:	49	43	13.95 %
Average Days on Market:	53	144	- 63.19 %
Average List Price for Solds:	$ 170,393	$ 216,998	- 21.48 %
Avg Sale Price as a percentage of Avg List Price:	92.40 %	86.18 %

48 homes sold this month and we have 484 listed – meaning at this rate, we have 10.08 months of inventory – not as good as last month at 8.8 months.

MORGAN COUNTY:

	2010	2009	% Change
Total Sold Dollar Volume:	$ 2,785,656	$ 1,294,611	115.17 %
Average Sold Price:	$ 139,283	$ 143,846	- 3.17 %
Median Sold Price:	$ 120,200	$ 140,000	- 14.14 %
Total Units Sold:	20	9	122.22 %
Average Days on Market:	138	154	- 10.39 %
Average List Price for Solds:	$ 161,192	$ 179,256	- 10.08 %
Avg Sale Price as a percentage of Avg List Price:	86.41 %	80.25 %

20 homes sold this month and we have 303 listed – meaning at this rate, we have 15.15 months of inventory – better than last month at 17.375.

It's still a GREAT time to be a Buyer. I do not believe we are finished with the flood of foreclosures and shortsales. What we saw in 2009 were from 5 year ARMS that adjusted from 2004. We still have 2005-2007 to go thru (high volume sales) that may be in danger of default. I don't know how many 5 year ARMS we actually wrote in the Eastern Panhandle - some would have been the popular interest only loans allowing folks to purchase more home than they could otherwise afford (we aren't doing those anymore)...and some stayed at locked in lower rate for first 5 years and then is due for an adjustment. Depending on what index they are tied to, it could be reduction in monthly payment - or huge adjustment doubling even tripling their current mortgage payment.

If you, your family or your friends are interested in buying a home, I'd be honored to help them. Call me anytime at 304-261-8517.

Sincerely,

Andrea Burke

September Market Statistics

Saturday, October 10, 2009

by Andrea Burke

The numbers are out for September! Berkeley and Jefferson counties are getting closer to 6 months of inventory - the point at which it becomes a "sellers market" - yay!!! The market as a whole is still saturated with foreclosures and short sales - and if regular folks absolutely need to sell their homes, they have to unfortunately compete with these low prices. Foreclosures have done their homework - have had appraisals, are priced below market and often receive multiple offers right away and get into a bidding war - amazing! And this is helping reduce our inventory.

It's still a GREAT time to buy - and there is still time to find a home and close before 11/30/09 for first time buyers to get their $8,000 gift from Uncle Sam!

BERKELEY COUNTY:

	2009	2008	% Change
Total Sold Dollar Volume:	$ 19,687,140	$ 17,199,496	14.46 %
Average Sold Price:	$ 148,024	$ 193,253	- 23.40 %
Median Sold Price:	$ 140,000	$ 175,000	- 20.00 %
Total Units Sold:	133	89	49.44 %
Average Days on Market:	113	100	13.00 %
Average List Price for Solds:	$ 165,639	$ 211,344	- 21.63 %
Avg Sale Price as a percentage of Avg List Price:	89.37 %	91.44 %

133 homes sold this month and we have 1207 listed – meaning at this rate, we

have 9.08 months of inventory – down from August at 10.66 months.

JEFFERSON COUNTY:

	2009	2008	% Change
Total Sold Dollar Volume:	$ 12,279,406	$ 12,374,876	- 0.77 %
Average Sold Price:	$ 177,962	$ 229,164	- 22.34 %
Median Sold Price:	$ 180,000	$ 215,500	- 16.47 %
Total Units Sold:	69	54	27.78 %
Average Days on Market:	107	131	- 18.32 %
Average List Price for Solds:	$ 201,429	$ 266,594	- 24.44 %
Avg Sale Price as a percentage of Avg List Price:	88.35 %	85.96 %

69 homes sold this month and we have 540 listed – meaning at this rate, we

have 7.82 months of inventory – down from August at 12.47 months.

MORGAN COUNTY:

	2009	2008	% Change
Total Sold Dollar Volume:	$ 2,251,640	$ 2,717,810	- 17.15 %
Average Sold Price:	$ 150,109	$ 181,187	- 17.15 %
Median Sold Price:	$ 145,000	$ 175,000	- 17.14 %
Total Units Sold:	15	15	0.00 %
Average Days on Market:	189	84	125.00 %
Average List Price for Solds:	$ 184,540	$ 197,054	- 6.35 %
Avg Sale Price as a percentage of Avg List Price:	81.34 %	91.95 %