Equity Is Driving the Market (and Why That Matters Here in Williamsburg, Virginia)
If you’ve been wondering who is actually buying and selling homes right now, you’re not alone.
I get that question almost daily—from folks relocating here, from neighbors thinking about downsizing, and from buyers who feel like they’re competing in a market that doesn’t always make sense.
A new report from the National Association of REALTORS® helps explain what I’ve been seeing on the ground here in Williamsburg for a while now:
👉 The market right now is being driven by equity-rich homeowners—and that’s changing everything.
The Big Headline: Baby Boomers Are Running the Show
Let’s start with the headline stat:
Baby Boomers (ages 61–79) make up 42% of buyers 55% of sellers
That’s not just a trend—that’s dominance.
And honestly? It tracks perfectly with what I’m seeing locally.
These are folks who bought homes years (or decades) ago, have built up significant equity, and now have options:
Sell and downsize Move closer to family Buy a second home (we see this a lot in Williamsburg) Or finally make that “lifestyle move” they’ve been talking about for years
Why This Matters
When you’re sitting on a large amount of equity, you can:
Pay cash Waive contingencies Compete aggressively
That’s a very different buyer than someone scraping together a down payment.
Meanwhile… First-Time Buyers Are Feeling the Squeeze
Here’s the flip side:
First-time buyers are down to just 21% of the market The average first-time buyer is now 40 years old
That’s a big shift.
And again, I see this every day.
You’ve got younger buyers who:
Are dealing with student loan debt Are trying to save for a down payment Are navigating higher home prices
And they’re often competing against someone who’s bringing hundreds of thousands in equity to the table.
That’s not exactly a fair fight.
Millennials: The Move-Up Buyers
Now here’s where it gets interesting.
Older millennials (roughly ages 36–45) are starting to flex a bit:
They’re using equity from their first home They have some of the highest incomes of any group They’re buying larger homes (around 2,100 sq ft median)
In other words, they’re becoming the new version of what Gen X buyers used to be.
And in Williamsburg, this often looks like:
Moving from a starter home into neighborhoods like Windsor Forest, Queens Lake, or Kingspoint Looking for more space, better layouts, or newer construction
Gen Z Is Sneaking In (and Changing the Rules)
This one surprised a lot of people:
Gen Z now makes up 4% of buyers
Small—but growing.
And they’re doing things differently:
More single female buyers (35%!) More unmarried couples Less focus on “traditional milestones” like marriage before buying
They’re basically saying:
“We’re buying when we’re ready—not when society says we should.”
And honestly, I respect it.
The Real Story: It’s a Tale of Two Markets
Here’s the simplest way to understand today’s housing market:
1. Equity-Rich Homeowners
Flexible Competitive Driving transactions
2. First-Time Buyers
Price-sensitive Payment-focused Waiting for opportunity
That divide is real.
And it’s shaping everything—from pricing strategies to how offers are written.
A Few Trends I’m Watching Closely
🏡 Multigenerational Living
About 14% of buyers are going this route Driven by: Aging parents Adult kids moving back home Cost savings
We’re seeing more of this in larger homes and flexible floorplans.
👩 Single Female Buyers Are a Force
25% of all buyers are single women Only 11% are single men
That’s a big shift—and one I’ve seen firsthand with many determined, well-prepared buyers making it happen.
💰 Down Payment Help Is Increasing
About 26% of younger millennials are getting help
Whether it’s:
Family gifts Grants Creative financing
People are finding ways to get in the game.
🤝 Agents Still Matter (A Lot)
88% of buyers used an agent 91% of sellers used an agent
Despite all the headlines about tech and disruption, people still want:
Guidance Negotiation expertise Someone who knows the local market
No surprise there.
What This Means If You’re Thinking About Buying or Selling in Williamsburg
Here’s my quick take:
If You’re a Seller
You’re in a strong position—especially if:
You’ve owned your home for a while You’ve built up equity
But pricing still matters. (A lot.)
We’re still seeing:
Some homes sell in days Others sit for 30–60 days
The difference? Pricing, condition, and presentation.
If You’re a Buyer
You’re not crazy—this market is tough.
But:
Inventory has improved slightly Rates have stabilized a bit Opportunities are starting to open up
The key is having a strategy—and understanding who you’re competing against.
Why I Write These Articles
I’m not just trying to report the news—I’m trying to translate it.
I’ve been selling real estate in Williamsburg for over 20 years, and I’ve found that national headlines don’t always tell the full story of what’s happening here.
So I write these to:
Break down the data in plain English Connect national trends to our local market Help you make better decisions—whether you’re buying, selling, or just watching from the sidelines
About Me (Mr. Williamsburg)
I’ve been listing and selling homes in Williamsburg—and throughout the region from Virginia Beach to Richmond—for over two decades. I’m a Realtor with Liz Moore & Associates, but more importantly, I consider myself a local guide and market translator.
I’ve helped:
First-time buyers navigate tough markets Sellers maximize decades of equity Families relocate and find the right community Investors and second-home buyers make smart decisions
I’m also a:
Real estate investor Renovator Airbnb host Cyclist who knows every back road and trail around here
So when I talk about the market, it’s not theoretical—it’s based on what I’m seeing every day in real conversations and real transactions.
If you’re thinking about making a move—or just want to talk through your options—I’m always happy to help.
📞 Call or Text: 757-254-8136
📧 Email: John@MrWilliamsburg.com
🌐 Website: mrwilliamsburg.com
