Is Williamsburg, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$470,000
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Williamsburg have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Williamsburg was $470,000 in March 2024, up 4.3% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $172.6K | $285K | +65.1% |
| 2 Bedrooms | $280K | $271K | -3.2% |
| 3 Bedrooms | $375K | $408.6K | +9.0% |
| 4 Bedrooms | $550K | $605K | +10.0% |
| 5+ Bedrooms | $755.5K | $754.5K | -0.1% |
Summary: Williamsburg housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 65.1%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 0.1%.
Median Sold Price Compared To Nearby Cities
| Jamestown | $405K | $453K | +11.9% |
| Williamsburg | $439.3K | $466.8K | +6.3% |
| Williamsburg | $450.6K | $470K | +4.3% |
| Berkeley | $500K | $508.7K | +1.8% |
Housing Supply in Williamsburg, VA
How many homes are available in Williamsburg, VA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 473 | 559 | +18.2% |
Summary: The Williamsburg real estate market had 559 homes for sale in March 2024, a 18.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 4 | +100.0% |
| 2 Bedrooms | 37 | 46 | +24.3% |
| 3 Bedrooms | 199 | 226 | +13.6% |
| 4 Bedrooms | 183 | 227 | +24.0% |
| 5+ Bedrooms | 52 | 56 | +7.7% |
Summary: The Williamsburg housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 24.3%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 24%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 98 | 109 | +11.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Williamsburg, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 109 homes were sold or pending in Williamsburg in March 2024, up by 11.2% month-over-month. Of the 20 sold homes, 20% were sold under asking, 30% were sold at asking, and 50% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 37 Days | 55 Days | +45.4% |
Summary: Homes in Williamsburg had an average of 55 days on market in Mar 2024, up by 45.4% compared to last year.
Breakdown of Home Sale Times
70 Homes Were Sold
Under 30 Days
27 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Williamsburg are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 109 homes were sold in Williamsburg; 64% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved
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