Clay County, WV housing market

What this means

• Prices. Home values are up 1.9% over the past year (U.S.: +1.2%), but still 4% below their 2022-23 peak.
• Supply. Listings are 52% below the 2017-19 norm and falling (−28% vs. a year ago): still a tight market.
• Negotiating. Buyer leverage is low (27/100; U.S.: 54): homes typically sell at or above asking (105.8% of list); 25% of listings had a price cut (U.S.: 26%).
• Affordability. A mortgage on the typical home takes 22% of the median household income (U.S.: 35%); it takes about $30k a year to keep the payment at 30% of gross pay. That includes about $984 a year for home insurance (U.S.: $1,790).
• Disaster risk. FEMA expects about $297 a year in natural-disaster damage per $100k of building value (U.S.: $155), mostly from flooding. Flood isn't covered by standard homeowners insurance.
• Outlook. Leaning up: likely −5% to +12% over the next 12 months (77% chance of a rise).

Next 12 months

Leaning up

Prices are more likely to rise than fall over the next year. Likely change: −4.7% to +11.7% (80% range; middle estimate +4.8%), chance of a rise 77%, of a 5%+ drop 9%.

HouseVane's model, refit every month on local market signals and national ones, trained only on data known at the time. How accurate it has been.

ZIP codes in Clay County, WV