Eastern Panhandle Real Estate & Community Blog

Aprils's MLs statistics pretty much confirm what we suspected and that is that the market has bottomed out in April. We are now seeing in May a bit of a bounce back and all we can hope is that it is not the dreaded "dead cat" bounce.

For Jefferson County, home sales for April in the MLS system totalled $12.125 Million and 46 homes sold which compares to $15.2 million and 55 homes sold in the same period last year, a drop of over 20%. The median sold price was $246,500 vs $272,900 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 $25.850 Million and 46 homes sold which compares to $32.971 million and 132 homes sold in the same period last year, a drop of almost 22%. The median sold price was $212,500 vs $239,700 a year ago. That is a drop of over 11%.

Showings on listings are picking up slightly as we head into the main season but generally numbers compare with 2002 not the crazy days of 2005.