May 14th, 2015 
Local Housing Market Gains Traction
wv real estate market on the upswing
From Teays Valley to Charleston, Parkersburg to Huntington, and everywhere in between, local Real Estate agencies are seeing a strong demand from buyers and fast success from sellers.
Recently, we asked some local Real Estate professionals to weigh in on the current state of our area’s housing market. Most agree the increase in buyer activity has spurred the perfect time to sell a home.
Josh McGrath, Broker of Real Estate Central, llc. believes increased buyer activity has infused competition and demand: two ingredients that spell a “Seller’s Market.”
“There seems to be more buyers active in the market as opposed to last year, however, with the lack of decent homes to choose from there is not a huge increase in pending transactions,” he explained. “Buyers are dominating the market at the moment, and the lack of inventory is making it difficult for them to find a home.”
McGrath and his agents are seeing most activity in Hurricane and Charleston, WV.
Craig Allison, Broker of Property Elite, llc. agrees that Summer 2015 has brought a “Seller’s Market” to the Kanawha Valley.
“This is a seller’s market, and there’s not enough inventory on the market for the droves of buyers currently looking for a home,” he said. “If a house is priced properly, it’s going into contract very quickly, and after multiple offers.”
Allison and his crew are seeing strong activity coming from Teays Valley, Hurricane, Winfield, South Charleston and Cross Lanes. The broker said he is also seeing Ripley and Jackson County rising as the “best-bang-for-your-buck” area.
Speaking of the Jackson County market, Melissa Morris, Broker of Jackson County Realty, llc. and Exclusive Realty, llc. agrees that 2015 has brought with it a great local market. She has seen increased activity from both buyers and sellers.
“Spring 2015 has been great,” Morris said. “The market has improved tremendously…Interest Rates are low, and if they continue, this will spur additional activity.”
Mike Callaghan, Broker of Great Expectations Realty, llc. agrees with Morris. His agency saw a strong market begin as soon as Spring arrived.
“Across the board there is more activity this Spring than last Spring,” he noted. “When a quality house is placed on the market at an appropriate price point, it usually will go into contract very quickly.”
The Real Estate professionals all agree a long, cold winter, combined with low interest rates and a buyer surge is helping fuel the strong local market we’re seeing. They’re looking forward to a successful summer.
If you’re looking for a home, take advantage of low interest rates. If you’re needing to sell a home, take advantage of buyer competition.
By: Justin Waybright
Marketing Associate, Boggs & Associates, Inc.
