The past 12 months have been the most prosperous for Kanawha Valley realtors in more than five years.
Agents sold 316 more homes in 2015 than 2014. Stats from the Kanawha Valley MLS show steady growth from 2010 to 2015.
With low interest rates, a rebounding economy, a strong job market, West Virginia real estate seems to be thriving.
Not only did realtors sell 2,983 homes in 2015, but the amount of time it took them to sell was on average about five days fewer than 2014. Summer’s high demand from buyers played a key role in that.
It seemed like the perfect recipe as interest rates dropped and home values rose. West Virginia buyers swarmed the market to get their hands on a solid investment.
This only added to the Mountain State’s already high homeownership rate of 73.4 percent. That’s roughly 10 percent higher than the nation as whole, according to the US Census.
With 2015 wrapping up as a stellar year for both West Virginia home buyers and home sellers, the questions is: “Will this momentum continue into 2016?”
At Boggs & Associates, Inc., we’re both optimists and realists. We believe, if interest rates continue to hover below 4 percent, gasoline prices around 2 percent and job growth endures, we will see a great 2016. The numbers we saw this year were amazing, and will surely be hard to top.
However, the Kanawha Valley boasts some of the best realtors in the Mountain State. If anyone’s up for the task, it’s them.
So, as we say goodbye to 2015 and welcome 2016, we wish every home owner, home seller and realtor a joyous and prosperous year to come!