Charleston is the most populous city in and the capital of the U.S. state of West Virginia. Located at the confluence of the Elk and Kanawha rivers, the population during the 2016 Census Estimate was 49,138. The Charleston metropolitan area as a whole had 217,916 residents. Charleston is the center of government, commerce, and industry for Kanawha County, of which it is the county seat.
Early industries important to Charleston included salt and the first natural gas well. Later, coal became central to economic prosperity in the city and the surrounding area. Today, trade, utilities, government, medicine, and education play central roles in the city's economy.
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Charleston, West Virginia. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6.0% commission do not realize that real estate commissions are NEGOTIABLE!
The national average total real estate commission in 2015 was 5.26% *
In Charleston, West Virginia, you will find the following real estate commissions charged*:
Typical Asking Commission: 6.0%
Competitive Commission: 5.0%-5.5%%
Very Competitive Commission: 4.5%-4.99%
The median existing single-family home price in the South rose 6.7%, to $229,400, in the second quarter of 2017 compared to the the second quarter of 2016. Median sales prices for existing homes in the state's Major Metropolitan Areas are as follows:
In the State of West Virginia, median home prices are as follows*:
|Metro Area||Median Sales Price||% of Annual Change|
Real Estate Commissions are split between the listing Agent (who works for you to sell your home) and what will be offered on the MLS to any Agent that brings a Buyer to buy your home. In a typical 6% total commission, the listing Broker is paid 3% and 3% is offered on the MLS to all Agents working with Buyers (so they can see what they will earn if they bring their Buyer to your home and complete the sale).
In a competitive commission structure, ranging from 5% to 5.5%, the listing Agent agrees to a listing commission of 2% to 2.5%, and they will recommend that they offer, on the MLS, a commission of 2.5% to 3.0% to the Buyer’s Agent. Your Agent will usually tell you that if they offer less than 2.5% on the MLS that your home “won’t be shown”. This makes sense, in that, all things being equal, the Buyer’s Agent will want as big a payday as possible when they find the right home for their client. This is also especially true if market conditions favor Buyers in a so-called “Buyer’s Market” (high inventory levels in a period of unstable prices).
When you meet with your listing Agent, also remember that, unless they are a “Broker/Owner”, they will have to split their commission with their employing Broker. High producing Agents can work up to getting 90% of the listing commission from their Broker, but typically less experienced Agents may only receive 50% of the listing commission.
At ListingBidder.com, we first negotiate on your behalf a competitive real estate commission structure with HIGHLY EXPERIENCED, HIGHLY RECOMMENDED Agents who know your LOCAL market (even YOUR NEIGHBORHOOD); each ready to bid for your business. These Agents are not just ordinary Agents as many of them are broker/owners and they have the best ability to negotiate their commissions and be competitive, in part because they do not have to share their listing commission with the brokerage firm. This is a direct benefit to you and will save you thousands of dollars in real estate commission fees over the typical fees in West Virginia.
Sellers who are also buying a home in the same local market have a volume discount advantage. ListingBidder can use this opportunity to negotiate an even better real estate commission rate fee on the sale of your home because the Agent will be more willing to give a deeper discount (a very competitive rate) knowing there is additional commission being earned on the purchase of another home. Be sure to check the box that you are also buying a home locally to receive these better rates.
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As of the census of 2010, there were 51,400 people, 23,453 households, and 12,587 families residing in the city. The population density was 1,630.7 inhabitants per square mile (629.6/km2). There were 26,205 housing units at an average density of 831.4 per square mile (321.0/km2). The racial makeup of the city was 78.4% White, 15.5% African American, 0.2% Native American, 2.3% Asian, 0.3% from other races, and 3.2% from two or more races. Hispanic or Latino of any race were 1.4% of the population.
There were 23,453 households of which 24.6% had children under the age of 18 living with them, 35.6% were married couples living together, 14.1% had a female householder with no husband present, 3.9% had a male householder with no wife present, and 46.3% were non-families. 39.4% of all households were made up of individuals and 13.5% had someone living alone who was 65 years of age or older. The average household size was 2.11 and the average family size was 2.83.
The median age in the city was 41.7 years. 20.1% of residents were under the age of 18; 9% were between the ages of 18 and 24; 24.9% were from 25 to 44; 29.9% were from 45 to 64; and 16.1% were 65 years of age or older. The gender makeup of the city was 47.6% male and 52.4% female.
The City of Charleston recognizes the Charleston Area Alliance as its economic development organization.