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 July as compared to 2022.

Current Market

  • 172 Active Residential Properties
  • 168 Contingent Residential Properties
  • 9 Months Inventory = Seller’s Market

Takeaways 

  • We just can’t break through the inventory barrier
  • Rates are rising slightly
  • Nice to see such a balance between active and contingent properties

Further Thoughts 

I’d like to start by saying this summer has felt like a more normal one in the real estate world. Typically, July and August are our slowest activity levels of the year when it comes to people shopping for homes, but it hasn’t been that way since 2019. This summer feels familiar in activity, but the reason behind it sure doesn’t. I can speak for pretty much anyone in my industry when I say I am stunned at the lack of options the bulk of my buyers have. We use automated systems to send newly available properties to our buyer clients, and are used to getting daily notifications of what’s been sent to them. I’m surprised if I get those notifications more than once a week right now. I keep talking about inventory, I know, and yes it continues to remain very low. I also usually talk about local statistics and not national ones, but to give perspective I wanted to give you a bigger picture. I attended a virtual Economic Summit by NAR, and learned that as a nation we are over $1M homes short in inventory. That’s a whole lot, and there are a lot of factors that play into it I won’t get in to here. Moral of the story is, if you’re buying hang in there and think outside the box when it comes to rates. If you’re considering selling but worried about finding somewhere to move to that’s a legitimate concern, but talk to your REALTOR® about strategies to overcome that obstacle. This is a unique time, one that has given us cause for reflection, but also one we will navigate through and come out shining like diamonds at the end….

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 https://www.whitediamondrealty.net . Feel free to connect with us on Twitter, 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 the August looked! In the meantime sharpen those pencils, grab those Trapper Keepers, and watch out for busses. The kids are back and it’s going to be an epic year…

Written by Melissa Hornbck, Broker