The February 2018 Williamsburg home sales market report looks positive from any number of perspectives. Here’s why:
first, new listings were up 11% for single-family detached homes, and 28% for townhouse/condo properties;
second, the median sales price was up 12% for single-family homes and 19% for townhouse/condo properties; and
third, closed sales were up 19% for single-family detached, and 40% for attached.
National trends going on right now include the ongoing lack of abundant inventory (just less than 4 months in our area), a steady upward climb in home sale prices, and a year-over-year decline in homes sales (something we are NOT seeing in our area, with closed sales up 11.6% this year over last.)
More details can be found in our home sales report CLICK HERE!
Quick Facts about February’s Overall Home Sales Market in the Williamsburg area:
+14.4% – Increase in new listings for both single-family attached and detached
+8.8% – Increase in pending sales compared to this time last year
$332,419 – Average sales price
3.9 – Months’ supply of inventory
193 closed sales year to date, up 11.6% over last year
Psst, I’m a real estate agent.
This post was authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of the Williamsburg/ Hampton Roads/ Richmond VA area and his expertise helping buyers and sellers in the local real estate market.
If you are a homeowner searching for someone innovative to sell your home I would love to share my thoughts on marketing. You can read some of the stories I have written about the homes I have sold here.
Additionally, I have helped hundreds of folks find their dream home/ community and would love to help you find yours in Williamsburg, Yorktown, New Kent, VA Beach, Chesapeake, Suffolk, Isle of Wight Poquoson as well as Richmond.
You can reach me by phone at 757-254-8136 or email [email protected]
I look forward to serving your real estate needs!