The Long & Foster Market Minute

Focus On: Greater Williamsburg Housing Market April 2019

Zip Code(s): 23188 and 23185
Units Sold
141
Active Inventory
596
Median Sale Price
$300,200
Days On Market
70
Down -8%
Vs. Year Ago
Down -22%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 21%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 141 sold this month in Greater Williamsburg Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 167 units or 22%. The total number of active inventory this April was 596 compared to 763 in April 2018. This month's total of 596 is higher than the previous month's total supply of available inventory of 583, an increase of 2%.

Median Sale Price
Last April, the median sale price for Greater Williamsburg Homes was $321,165. This April, the median sale price was $300,200, a decrease of 7% or $20,965 compared to last year. The current median sold price is 2% higher than in March.

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


New Listings
252
Current Contracts
176
Sold Vs. List Price
98.5%
Months of Supply
4.2
Down -10%
Vs. Year Ago
Down -8%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -15%
Vs. Year Ago

Months of Supply
In April, there was 4.2 months of supply available in Greater Williamsburg, compared to 5.0 in April 2018. That is a decrease of 15% 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 252 homes newly listed for sale in Greater Williamsburg compared to 279 in April 2018, a decrease of 10%. There were 176 current contracts pending sale this April compared to 192 a year ago. The number of current contracts is 8% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Greater Williamsburg was 98.5% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 70, higher than the average last year, which was 58, an increase of 21%.

The Long & Foster Market Minute 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.
REALTOR, Equal Opportunity HousingInformation 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.