Recap of 2018 Real Estate Sales in Williamsburg

March 7, 2019 By mrwilliamsburg

2018 was a solid real estate year in Greater Williamsburg. Consumer confidence is definitely on the rise, as measured by sellers entering the market. Closed sales were up slightly over the year before, and there is definitely some urgency in the market with an expectation of interest rates inching up each quarter. In January, the 30 year conventional rate was 3.9%, and by the end of the year it had risen to 4.4%. For a moderately priced home at $250,000, that means a $123 increase in house payment. Other notable stats are price and time on market. Despite a modest gain in the number of sales for the year, prices hovered just below last year. Median days on market took a sharp drop to less than 30 days, although there is a significant difference for properties over $500,000, which remained on the market for 121 days, on average. Data reflects detached and attached sales in Greater Williamsburg (23185, 23168, 23188) for calendar year 2018, WMLS.

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About mrwilliamsburg

I love Williamsburg !
Being “Mr. Williamsburg” and starting my web site in 2004 has been a great way for me to help people looking for homes for sale, communities and an “insider knowledge.” of the area.
Turned out I was onto something. Because I offer in-depth information and up-to-the-minute blogging, even international clients have found me. One couple, moving back to the States from France, told me that a post I wrote blog about grocery shopping in Williamsburg convinced them that Williamsburg was the place to be, and that I was the best source by far that they found on the web.
I’m happy to say that I hear similar comments from many of my clients looking for homes throughout Williamsburg and Hampton Roads.
I grew up in Virginia Beach, Va, After attending college, I worked at a number of positions including manager of a land development and construction company and business manager of a cut flower business that we grew in sales from $300,000 to $15 million (we were supplier to Whole Foods and one of the first cut flower suppliers to Costco).
In 2004, it seemed like a good time to simplify my life. I moved my family from Annapolis to Williamsburg. I went into real estate with Liz Moore and Associates, and was one of the initial agents when Liz opened her Williamsburg branch.
My sons Zach and Josh attended Lafayette High School ,Hornsby Middle School and DJ Montague and are crazy about sports and the outdoors.
I feel lucky to be living the dream, and saving two to four hours by not driving on the DC beltway every day. So, I can now spend my time with friends family while concentrating on learning — and sharing — information about living in Williamsburg.
In real estate, no two people or transactions are the same. Everything’s a challenge, and I’m rewarded every time in close a transaction and have the opportunity to see the smiles on clients’ faces.
Please email or call me for assistance with any real estate questions about the area
John@MrWilliamsburg.com or 757 254 8136