The West Virginia housing market in January 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price has decreased by 1.6% year-over-year, settling at $243,100. This decline contrasts with the Median List Price, which has increased by 9.9% to $275,000, indicating a potential gap between seller expectations and buyer willingness.

In terms of Price Per Square Foot, the Median Sales Price per square foot has seen a slight increase of 0.3%, reaching $144. Meanwhile, the Median List Price per square foot has risen by 4.4% to $153, suggesting that sellers are pricing homes higher on a per-square-foot basis compared to the previous year.

The number of Homes Sold has increased significantly by 14.4%, with 706 Homes Sold in January 2025. Pending Sales have also seen a robust growth of 17.5%, totaling 881. However, New Listings have slightly decreased by 1.1%, with 833 new homes entering the market. Inventory has grown by 1.8%, reaching 2,523 homes, which may provide more options for buyers.

The Months of Supply have dramatically decreased by 40.0%, now standing at 3.6 months. This reduction indicates a faster-moving market, as homes are selling more quickly. The median days on the market have decreased by 5.0% to 66 days, further supporting the notion of increased market activity.

The average sale to list ratio remains stable at 96.1%, showing no significant change from the previous year. However, the percentage of Homes Sold above the list price has decreased by 4.0% to 13.2%, suggesting that fewer buyers are willing to pay above the asking price. Price Drops have increased by 14.2%, affecting 20.0% of listings, which may indicate sellers adjusting their expectations to align with market conditions.

Additionally, the percentage of homes going off the market within two weeks has increased by 12.6%, reaching 30.2%. This trend suggests that a significant portion of homes are being snapped up quickly, reflecting strong buyer interest and competition.

Overall, the West Virginia housing market in January 2025 exhibits a mix of rising list prices and increased sales activity, alongside a decrease in sales prices and a faster-moving market. These dynamics suggest a competitive environment where buyers are actively engaging, yet sellers may need to adjust pricing strategies to meet market demands.