Welcome to the Mon County Market Snapshot brought to you by White Diamond Realty. This month, we’re taking a look at both the June and 2nd Quarter markets vs the same timeframes in 2022. Below are the stats:
Current Market
- 167 Active Residential Properties
- 203 Contingent Residential Properties
- 4 Months Inventory = Seller’s Market
Takeaways
- We are back to a seller’s market because inventory remains very low
- Despite the back and forth of the marketing time, properties are still moving very quickly
- Starting this month/quarter we will be comparing apples to apples markets
Further Thoughts
In my first quarter market update I talked about these statistics not yet being apples to apples, as the drastic rate change wasn’t reflecting in the numbers yet. This quarter although we’re not apples and oranges, we’re still apples and pears as at least the first half was still in a grey area. I look forward to seeing how July’s year over year comparison will look as that will be far more fair. In other words, don’t pay too much attention to the percentages just yet.
In day-to-day practice I could tell we were slipping back to a seller’s market, so I wasn’t surprised but I am disappointed. We are, as almost all markets nationwide, still experiencing a severe lack of inventory. Much of this, as I’ve talked about before, is due to low motivation to up or downsize unless it’s absolutely necessary. People are holding on to their houses, and low mortgage rates, unless they find the perfect fit or have to move for whatever reason. We are now over a year with these rates and inflation is leveling out, so I’m hopeful people will start peeking around the corner and finding the coast is clear to go ahead and accept this rate range as our new normal. Fingers crossed, anyway.
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 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 explosive the July market was. In the meantime re-apply that sunscreen and don those big-brimmed hats. It’s a scorcher out there…
