Welcome to the Mon County Market Snapshot brought to you by White Diamond Realty.

Let’s take a look at the residential real estate market in the month of August as compared to 2021.

Detached Home Sales  

  • 20.8% Decrease in Units from 96 to 76
  • 56.3% Increase in Marketing Time from 16 days to 25
  • 4.8% Increase in Sales Price from $356,716 to $372,966

Attached Home Sales

  • 25.7% Decrease in Units from 35 to 24
  • 33.3% Increase in Marketing Time from 18 days to 44
  • 5.2% Increase in Sales Price from $228,241 to $240,211

Current Market

  • 177 Active Residential Properties
  • 168 Contingent Residential Properties
  • 2.8 Months Inventory = Seller’s Market

Takeaways

  • Third consecutive month with a decrease in unit volume
  • Still a Seller’s market
  • More typical appreciate rate

Further Thoughts 

We have reached the end of our summer season which, as noted last month, is typically a slower one for the real estate market. Although we’ve had three months of decreased sales the numbers aren’t drastic and point to a balancing of the market which we need. Additionally, we still have a lower inventory than usual, but the number of active properties vs contingent are also balancing nicely so I see this as an overall positive.

This being said, if you’re reading the national headlines you’d think the sky was falling. It’s one thing to look at sales in August as compared to last year, but what about the current market? I reviewed my notes to see how we looked in that arena last year to see what the difference is. Basic answer is, there isn’t one. The ‘current market’ of last August showed the same 2.8 months of inventory and a similar ratio of active to contingent properties. So, on that front there’s not much change, other than there were actually more available properties then as opposed to now with a total of 190 and 242 respectively. It’s early to say, but this is encouraging data to support the possibility that rates aren’t having the catastrophic effect here, as the national headlines indicate.

Never high-pressure sales. Always high-quality service. Ready to elevate your real estate experience? We can be reached by phone at 304-241-7500, email at info@whitediamondrealty.net, or online at whitediamondrealty.net. Feel free to connect with us on LinkedIn, Instagram, and Facebook, too! Just search and follow White Diamond Realty LLC to get updates on all things real estate and our community as a whole. Tune in next month to see how August rounded out our summer! In the meantime, slow down and watch for those kiddos heading back to campus and back to school. Because they’re not watching for you…