Real estate explodes

2021's priciest home sale: $1.1 million in Yellow Spring 

Hampshire County’s real estate market hit heights in 2021 that have never been seen before.

More homes sold than ever before at a faster pace and at top prices.

Land sales had their 2nd-best year ever for the number of parcels sold, but what went was worth more and went faster than in the boom of the early 2000s.

Realtors ran ragged.

“It’s a good time to be doing this if you don’t have much of a life,” joked Keenan Shanholtz of West Virginia Land and Home.

In the midst of Hampshire’s hottest seller’s market ever, Shanholtz had a single home listed for sale Monday.

“That’s a good problem,” he said. “You just can’t keep the shelf restocked.”

His agency had just over a dozen and all the residential listings around the county put together totaled 41. The oldest listing dated back to last March.

That’s an ancient listing in 2021 terms. Half of the 341 homes sold last year moved within 13 days of going on the market.

“You put it on the Internet and it’s gone,” Shanholtz said.

The median sales time the year before was 41 days, when 336 homes were sold.

And those 341 sales totaled up to $76.6 million, shattering 2020’s mark of $63.9 million.

The average selling price last year was $224,702, up more than 20% from 2020’s average.

Land sales also set a price record — $20.8 million. The previous best was set in 2005 when 316 parcels fetched a combined $17.7 million.

Land sales surged to $15.8 million on 285 transactions in 2020, bringing the market out of a decade-long slump. The year before, 2019, saw just 163 pieces of land sold for a total of $8.7 million.

Land was a little more plentiful than homes were in the real estate market Tuesday, with 108 lots for sale. But only 8 were 20-acre lots, the dream purchase for folks moving here from metropolitan areas.

What does this year hold?

Shanholtz says the buying frenzy has slowed a little since summer, in terms of properties getting multiple offers and prices above asking price.

“That has slowed down,” he said. “It’s not nearly as common as it was.”

But as long as inventory is tight and buyers have cash — particularly from out of the area — then prospects are good for realtors here.

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