West Virginia is nicknamed the “mountain state” for good reason. Situated in the Appalachians, the West Virginia real estate market has peeks and valleys as well. West Virginia is somewhat of a misunderstood state when it comes to national recognition. Occasionally shown in a negative light, the state is actually a tremendous location for outdoor enthusiasts. Rock climbing, hiking, fishing, camping and rafting are available in practically every part of the state. Throw in numerous historical sites from the Civil War and West Virginia just might be considered a hidden gem.

West Virginia real estate prices are extremely reasonable throughout the state. The average price of a single family home in Charleston, for instance, is approximately $180,000. The average home price drops to $140,000 for single family homes in Morgantown. It’s pretty hard to find prices this low in the rest of the country, particularly for a town rated the 3rd best in the United States. For the last 12 months, West Virginia real estate has appreciated at a rate of a little over 9 percent. Overall, West Virginia is jumping back onto the national scene because of low real estate prices. Real estate in Morgantown, in particular, may be a very good investment.

West Virginia real estate is not it seems experiencing the crunch on housing as the rest of the United States. Market news Berkeley County is experiencing actual sales of the various homes available. You will find there are homes in the range of $100,000 and above with some homes topping $500,000 plus. Of those homes for sales, which are 340, a third of the homes have a sale pending listing, and contracts that are contingent. While they are seeing the sale prices of some of these homes drop to make them, more affordable it does seem to be working for the majority of homes. Jefferson County is experiencing a similar sales pattern for their real estate as well. It seems that the sale price was actually increased by 5% in the beginning of the year, helping the market to look more favorable.

Now that we understand the market in West Virginia, let us look at some of the real estate that is being offered. In the larger cities, you are going to find condominiums, houses, and apartments. If you are not yet ready to purchase a home or are wary of the market economy for West Virginia real estate, you may wish to stay in an apartment. The apartment rentals are a fair price in order to entice more individuals to rent rather than buy. The condominiums are not seeing a as big a draw as it is a little harder to resell this type of investment in the current market. Many individuals are finding it easier to regroup their family to save money rather than have separate households, so larger family homes are more important to the overall demand. For homes, you will have a choice in purchasing older or newer homes for a decent purchasing price. It seems that the builders have been unable to sell the homes they have recently completed making the demand lower the price of the homes. You will also find that the older homes are going to be given fair market value or perhaps a lower value in order to entice buyers. Most often for real estate in West Virginia, the home will remain on the market a little more than ninety days offering you a better shot at finding that fair price. Keep in mind that real estate near the resorts and mountains is going to increase above other areas.