Greater Williamsburg Housing Market Data

There was a decrease in total units sold in September, with 129 sold this month in Greater Williamsburg Real Estate versus 184 last month, a decrease of 30%. This month's total units sold was lower than at this time last year, a decrease of 2% versus September 2018.

Versus last year, the total number of homes available this month is lower by 189 units or 25%. The total number of active inventory this September was 561 compared to 750 in September 2018. This month's total of 561 is lower than the previous month's total supply of available inventory of 597, a decrease of 6%.

Last September, the median sale price for Greater Williamsburg Homes was $295,500. This September, the median sale price was $313,000, an increase of 6% or $17,500 compared to last year. The current median sold price is 5% higher than in August.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In September, there was 4.3 months of supply available in Greater Williamsburg, compared to 5.7 in September 2018. That is a decrease of 23% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 145 homes newly listed for sale in Greater Williamsburg compared to 165 in September 2018, a decrease of 12%. There were 120 current contracts pending sale this September, consistent with the volume a year ago. The number of current contracts is 16% lower than last month.

In September, the average sale price in Greater Williamsburg was 98.4% of the average list price, which is 0.5% lower than at this time last year.

This month, the average number of days on market was 64, higher than the average last year, which was 54, an increase of 19%.





Focus On: Greater Williamsburg Housing Market			September 2019

Zip Code(s): 23188 and 23185
Units Sold 129	Active Inventory 561	Median Sale Price $313,000	Days On Market 64

Down -2% Vs. Year Ago	Down -25% Vs. Year Ago	Up 6% Vs. Year Ago	Up 19% Vs. Year Ago


		Units Sold There was a decrease in total units sold in September, with 129 sold this month in Greater Williamsburg Real Estate versus 184 last month, a decrease of 30%. This month's total units sold was lower than at this time last year, a decrease of 2% versus September 2018.
Active Inventory Versus last year, the total number of homes available this month is lower by 189 units or 25%. The total number of active inventory this September was 561 compared to 750 in September 2018. This month's total of 561 is lower than the previous month's total supply of available inventory of 597, a decrease of 6%.
		Median Sale Price Last September, the median sale price for Greater Williamsburg Homes was $295,500. This September, the median sale price was $313,000, an increase of 6% or $17,500 compared to last year. The current median sold price is 5% higher than in August. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 145	Current Contracts 120	Sold Vs. List Price 98.4%	Months of Supply 4.3

Down -12% Vs. Year Ago	No Change Vs. Year Ago	Down -0.5% Vs. Year Ago	Down -23% Vs. Year Ago


		Months of Supply In September, there was 4.3 months of supply available in Greater Williamsburg, compared to 5.7 in September 2018. That is a decrease of 23% versus a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 145 homes newly listed for sale in Greater Williamsburg compared to 165 in September 2018, a decrease of 12%. There were 120 current contracts pending sale this September, consistent with the volume a year ago. The number of current contracts is 16% lower than last month.
		Sale Price to List Price Ratio In September, the average sale price in Greater Williamsburg was 98.4% of the average list price, which is 0.5% lower than at this time last year. Days on Market This month, the average number of days on market was 64, higher than the average last year, which was 54, an increase of 19%.


	Greater Williamsburg are defined as properties listed in zip code/s 23188 and 23185.
	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by WAAR and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of WAAR or Long & Foster Real Estate, Inc.