Charleston, WV: Among top 5 Southern cities for affordable living and a charming lifestyle

A recent article from Investopedia named Charleston, WV among the top 5 Southern cities that blend affordable living and a charming lifestyle.  This differs from the general narrative that West Virginia is economically stagnant and unlikely to change.  The reality is more nuanced and provides a strong argument to be bullish on the Mountain State, and Charleston in particular.  According to a October 2024 report from Rocket Homes, house prices in Charleston raised a considerable 15.6% on average from October 2023–October 2024.  The same report relayed that the average time on the market only increased by one day—from 35 to 36 days while inventory for one and two bedroom homes remained the same and sales for 3 bedroom homes increased by 16%.  These statistics buck the general narrative that the housing market in Charleston is shrinking.  To the contrary, prices are grew in the past year—showing increased demand—while time on the market stayed essentially the same. 

While we expect the increase in home prices to level out by Q2 of 2025, their remains strong reasons to expect continued growth in the Charleston real estate market.  The recent $250 million investment to build the West Virginia Regional Technology Park should create considerable jobs while under construction and even more once finished.  The $20 million investment in Charleston’s East Side to transform the Kanawha Manufacturing Plant into the LIFT (learning, innovation, food and technology) Center will have a similar positive effect.  These projects, among many more, make clear that Charleston’s real estate market is strong and we expect it to continue growing.