Is Williamsburg, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Williamsburg was a Buyer's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $188K | $235K | +25.0% |
2 Bedrooms | $284K | $285K | 0.4% |
3 Bedrooms | $380K | $408.7K | +7.6% |
4 Bedrooms | $570K | $605K | +6.1% |
5+ Bedrooms | $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 | $368.5K | $465K | +26.2% |
Powhatan | $429.9K | $469.9K | +9.3% |
Williamsburg | $457K | $475K | +3.9% |
Williamsburg | $457.8K | $475K | +3.7% |
Berkeley | $500K | $503.7K | +0.8% |
Housing Supply in Williamsburg, VA
How many homes are available in Williamsburg, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
565 | 641 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 9 | +50.0% |
2 Bedrooms | 57 | 61 | +7.0% |
3 Bedrooms | 234 | 280 | +19.7% |
4 Bedrooms | 205 | 220 | +7.3% |
5+ Bedrooms | 63 | 71 | +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 2024 | May 2024 | CHANGE |
---|---|---|
170 | 163 | -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
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 2023 | May 2024 | CHANGE |
---|---|---|
9 Days | 25 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
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.