Is Williamsburg, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Williamsburg is a seller's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Williamsburg was a Buyer's Market.

Key Takeaway

Williamsburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Williamsburg, VA

How much do homes in Williamsburg, VA cost?

Median Sold Price

$475,000

$208/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$18,000(+3.9%)

Key Takeaway

Homes in Williamsburg have sold for 3.9% more than they did a year ago.

Summary: The median home sold price in Williamsburg was $475,000 in May 2024, up 3.9% from last year, and the median price per square foot was $208.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $188K$235K
+25.0%
2 $284K$285K
0.4%
3 $380K$408.7K
+7.6%
4 $570K$605K
+6.1%
5+ $750.5K$775K
+3.3%

Summary: Williamsburg housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 3.3%.

Median Sold Price Compared To Nearby Cities

Jamestown
+26.2%
Powhatan
+9.3%
Williamsburg
+3.9%
Williamsburg
+3.7%
Berkeley
+0.8%

Housing Supply in Williamsburg, VA

How many homes are available in Williamsburg, VA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
565641+13.5%

Summary: The Williamsburg real estate market had 641 homes for sale in May 2024, a 13.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 69
+50.0%
2 5761
+7.0%
3 234280
+19.7%
4 205220
+7.3%
5+ 6371
+12.7%

Summary: The Williamsburg housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 19.7%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 12.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
170163-4.1%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Williamsburg, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 163 homes were sold or pending in Williamsburg in May 2024, down by 4.1% month-over-month. Of the 45 sold homes, 44% were sold under asking, 24% were sold at asking, and 31% were sold over asking.

Days on Market for Williamsburg, VA

How long does it take to sell a home in Williamsburg, VA?

Average Sale Time

May 2023May 2024CHANGE
9 Days25 Days+152.4%

Summary: Homes in Williamsburg had an average of 25 days on market in May 2024, up by 152.4% compared to last year.

Breakdown of Home Sale Times

119 Homes Were Sold
Under 30 Days

34 Homes Were Sold
In 30 - 90 Days

10 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Williamsburg are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 163 homes were sold in Williamsburg; 73% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 6% 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 1 Day Ago

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