The Long & Foster Market Minute

FOCUS ON: GREATER WILLIAMSBURG HOUSING MARKET APRIL 2024

Zip Code(s): 23188 and 23185
Units Sold
124
Active Inventory
146
Median Sale Price
$500,000
Days On Market
31
Up 17%
Vs. Year Ago
Down -17%
Vs. Year Ago
Up 9%
Vs. Year Ago
Up 35%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 124 sold this month in Greater Williamsburg Real Estate versus 95 last month, an increase of 31%. This month's total units sold was higher than at this time last year, an increase of 17% versus April 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 30 units or 17%. The total number of active inventory this April was 146 compared to 176 in April 2023. This month's total of 146 is lower than the previous month's total supply of available inventory of 150, a decrease of 3%.

Median Sale Price
Last April, the median sale price for Greater Williamsburg Homes was $458,700. This April, the median sale price was $500,000, an increase of 9% or $41,300 compared to last year. The current median sold price is 15% 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
133
Current Contracts
126
Sold Vs. List Price
100.1%
Months of Supply
1.2
Up 7%
Vs. Year Ago
Up 1%
Vs. Year Ago
No Change
Vs. Year Ago
Down -29%
Vs. Year Ago

Months of Supply
In April, there was 1.2 months of supply available in Greater Williamsburg, compared to 1.7 in April 2023. That is a decrease of 29% 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 133 homes newly listed for sale in Greater Williamsburg compared to 124 in April 2023, an increase of 7%. There were 126 current contracts pending sale this April compared to 125 a year ago. The number of current contracts is 1% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Greater Williamsburg was 100.1% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 31, higher than the average last year, which was 23, an increase of 35%.

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.