Is Mineral Wells, WV a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mineral Wells is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Mineral Wells was a Seller's Market.

Key Takeaway

Mineral Wells is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Mineral Wells, WV

How much do homes in Mineral Wells, WV cost?

Median Sold Price

$206,500

$114/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$13,500(-6.1%)

Key Takeaway

Homes in Mineral Wells have sold for 6.1% less than they did a year ago.

Summary: The median home sold price in Mineral Wells was $206,500 in February 2024, down 6.1% from last year, and the median price per square foot was $114.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $165.5K$192.5K
+16.3%
3 $215K$183.1K
-14.8%
4 $322.5K$280K
-13.2%
5+ $558.5K$280K
-49.9%

Summary: Mineral Wells housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.3%, 3 bedroom homes decreased by 14.8%, 4 bedroom homes decreased by 13.2%, and 5+ bedroom homes decreased by 49.9%.

Median Sold Price Compared To Nearby Cities

Tygart
+6.7%
Mineral Wells
-6.1%
Slate
-9.3%

Housing Supply in Mineral Wells, WV

How many homes are available in Mineral Wells, WV?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
56+20.0%

Summary: The Mineral Wells real estate market had 6 homes for sale in February 2024, a 20.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 00
0.0%
3 23
+50.0%
4 11
0.0%
5+ 22
0.0%

Summary: The Mineral Wells housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
01+100.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mineral Wells, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Mineral Wells in February 2024, up by 100.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Mineral Wells, WV

How long does it take to sell a home in Mineral Wells, WV?

Average Sale Time

Feb 2023Feb 2024CHANGE
69 Days236 Days+242.0%

Summary: Homes in Mineral Wells had an average of 236 days on market in Feb 2024, up by 242% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Mineral Wells are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 1 homes were sold in Mineral Wells; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Mineral Wells, WV

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