The West Virginia housing market in February 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price has increased by 1.4% year-over-year, reaching $248,500. This modest rise suggests a stable market, although the Median List Price has decreased by 4.4% to $261,000, indicating potential adjustments in seller expectations.

Price Per Square Foot metrics show a positive trend, with the median Price Per Square Foot rising by 4.5% to $146, and the Median List Price per square foot increasing by 4.1% to $152. These figures suggest that while overall list prices have decreased, the value attributed to individual square footage has appreciated, reflecting a demand for quality over quantity.

In terms of sales activity, the number of Homes Sold has decreased by 3.8% year-over-year, totaling 683 homes. However, Pending Sales have surged by 20.2%, reaching 946, indicating a strong pipeline of future transactions. This discrepancy may be attributed to the significant drop in New Listings, which have fallen by 14.6% to 855, constraining available inventory.

Inventory levels have decreased by 2.2% year-over-year, with 2,449 homes available, while the Months of Supply have increased by 10% to 3.6 months. This increase in supply duration suggests a slower market pace, further evidenced by the Median Days on Market rising by 4% to 74 days.

The average sale to list ratio remains unchanged at 96.7%, indicating that homes are generally selling close to their list prices. The percentage of Homes Sold above list price has increased slightly by 1.4% to 17%, suggesting competitive bidding in certain segments. However, Price Drops have risen significantly by 15.1% to 20.3%, reflecting adjustments in pricing strategies by sellers.

Finally, the percentage of homes going Off Market Within Two Weeks has increased by 12.4% to 33.2%, indicating that while some properties linger, others are being snapped up quickly, likely due to competitive pricing or desirable features.

Overall, the West Virginia housing market in February 2025 is characterized by stable sales prices, increased demand for quality, and a competitive environment for well-priced homes, despite a decrease in New Listings and overall sales activity.