Zillow Homes For Sale In West Virginia (2024)

FAQs

Is it a good time to buy a house in West Virginia? ›

Is it a good time to buy a house in West Virginia? Yes! Currently, there are very few buyers in the market compared to the supply of homes in West Virginia. Homes for sales are up by 12.4%.

Being a mostly rural state with a lower population, West Virginia naturally has lower costs such as for taxes and housing, officials said. While the cost of living may be low for the state, West Virginia is ranked 49th in the nation for per capita personal income, Deskins said.

There are currently 4,494 homes for sale in West Virginia. The median list price in West Virginia is $259,999 and the average price per square foot is $143.

Median Housing Price

The median price of a home in West Virginia in April 2024 was $276,200, according to Redfin's monthly housing market data. This is an increase of 5.6% from the previous year, accurately reflecting predictions of a continually appreciating housing market.

West Virginia has a unique set of challenges negatively driving social determinants of health, especially at-risk populations, including one of the worst drug problems in the country; high rates of obesity, diabetes, and disability resulting in one of the lowest rates of labor participation — also a contributing factor ...

Con: Very cold winters

Harsh winters in West Virginia are a reality that residents must contend with each year. The state's mountainous terrain and higher elevations can result in frigid temperatures, heavy snowfall, and challenging weather conditions during the winter months.

West Virginia has some of the lowest property tax rates in the country. Its average effective property tax rate of 0.55% is the 10th-lowest state rate in the U.S., as comes in at about half of the national average.

What is the average monthly house payment in WV? ›

The average mortgage payment in West Virginia is $989 per month but can vary based on your loan amount, term, interest rate and down payment.

The typical buyer closing costs in West Virginia are three to four percent of the sales price, and the seller's costs are one to three percent (not including broker commissions). There is a range in the closing costs because who pays for what at closing is negotiable.

Market Trends and Growth Potential

Analyzing market trends is crucial for anyone considering real estate investment. West Virginia has experienced a consistent, albeit modest, appreciation in property values over the years. However, recent trends suggest a potential for increased growth.

The average property tax rate is 0.58%, which works out to $983 each year for the median home value in the state. West Virginia charges you about 0.22% of your home's sale price to transfer the title to the new owner. If you sell for West Virginia's median home value — $169,446 — you'd pay $373.

With its picturesque landscapes, thriving communities, and a cost of living that is often more affordable than other states, West Virginia is becoming an attractive option for those considering real estate investments.

West Virginia's average monthly payment of $989 is one of the lowest mortgage payments in the country. Given the state's average monthly household income of $5,102, mortgage payments account for around one-fifth of monthly income for West Virginians.

West Virginia's GDP has grown at an annualized rate of 4.3% over the five years to 2024. Moreover, West Virginia's trailing five-year GDP growth ranks it 34^th out of all 50 US states. State GDP, or Gross State Product, is a measurement of a state's output, or the sum of value added from all industries in the state.