Eastern Panhandle Real Estate & Community Blog

The numbers are in today from the MLS for home sales in June. It still looks as though we are about at the bottom of this adjusting market and that the drop seems to have stopped. Having said that, there is a lot of inventory that needs to be absorbed before we can expect to see prices moving upward again. We know that the number of showings on our properties increased substantially in the month of June and a number of homes went under contract.

For Jefferson County, home sales for June in the MLS system totalled $14.496 Million and 51 homes sold which compares to $25.608 million and 80 homes sold in the same period last year, a drop of over 43%. The median sold price was $284,247 vs $320,103 a year ago. That is a drop of over 9%. Good news for home buyers but disappointing for sellers.

For Berkeley County, home sales for April in the MLS system totalled $26.302 Million and 121 homes sold which compares to $31.221 million and 135 homes sold in the same period last year, a drop of almost 16%. The median sold price was $200,000 vs $212,000 a year ago. That is a drop of over 5%.