Welcome to the Mon County Market Snapshot brought to you by White Diamond Realty.
This month we’re taking a look at the residential real estate market in the month of November as compared to 2021.
Current Market
- 168 Active Residential Properties
- 138 Contingent Residential Properties
- 2.4 Months Inventory = Seller’s Market
Takeaways
- Volume is down, but the markets we’re comparing are not apples to apples
- Inventory remains tight and speed of marketing time is still rapid
- Values continue to increase
Further Thoughts
The tight inventory continues while rates appear to be balancing. I’m curious to see how these two factors effect our area going into the new year. I predict that as the public perception of rates normalizes, we will see an increase of buyers coming back to the table which will hopefully spur sellers to move forward with getting their homes on the market. Especially given the fact that rents are raising at pace with, if not faster than, mortgage rates which may push more first-time homebuyers off the fence to become homeowners. Unfortunately, that’s the most competitive area in our already tight market, so hoping we’ll have more people decide it’s time to transition from their current housing to what better fits their needs. All these situations falling into place will help boost inventory and balance the scales for everyone. But, as with all things, time will tell.
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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 the overall 2022 market compared to 2021! That’ll be a doozy. In the meantime, break out the hats and gloves to enjoy all this season has to offer. From our White Diamond family to yours, we wish you only the best this holiday season…
