GREATER WILLIAMSBURG HOUSING MARKET DATA

There was a decrease in total units sold in August, with 111 sold this month in Greater Williamsburg Real Estate versus 112 last month, a decrease of 1%. This month's total units sold was lower than at this time last year, a decrease of 13% versus August 2023.

Versus last year, the total number of homes available this month is higher by 41 units or 24%. The total number of active inventory this August was 212 compared to 171 in August 2023. This month's supply remained stable as compared to last month.

Last August, the median sale price for Greater Williamsburg Homes was $432,000. This August, the median sale price was $474,000, an increase of 10% or $42,000 compared to last year. The current median sold price is 5% lower than in July.

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

In August, there was 1.9 months of supply available in Greater Williamsburg, compared to 1.3 in August 2023. That is an increase of 42% 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 133 homes newly listed for sale in Greater Williamsburg compared to 109 in August 2023, an increase of 22%. There were 116 current contracts pending sale this August compared to 100 a year ago. The number of current contracts is 16% higher than last August.

In August, the average sale price in Greater Williamsburg was 99.9% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 33, higher than the average last year, which was 25, an increase of 32%.





FOCUS ON: GREATER WILLIAMSBURG HOUSING MARKET			AUGUST 2024

Zip Code(s): 23188 and 23185
Units Sold 111	Active Inventory 212	Median Sale Price $474,000	Days On Market 33

Down -13% Vs. Year Ago	Up 24% Vs. Year Ago	Up 10% Vs. Year Ago	Up 32% Vs. Year Ago


		Units Sold There was a decrease in total units sold in August, with 111 sold this month in Greater Williamsburg Real Estate versus 112 last month, a decrease of 1%. This month's total units sold was lower than at this time last year, a decrease of 13% versus August 2023.
Active Inventory Versus last year, the total number of homes available this month is higher by 41 units or 24%. The total number of active inventory this August was 212 compared to 171 in August 2023. This month's supply remained stable as compared to last month.
		Median Sale Price Last August, the median sale price for Greater Williamsburg Homes was $432,000. This August, the median sale price was $474,000, an increase of 10% or $42,000 compared to last year. The current median sold price is 5% lower than in July. 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 116	Sold Vs. List Price 99.9%	Months of Supply 1.9

Up 22% Vs. Year Ago	Up 16% Vs. Year Ago	No Change Vs. Year Ago	Up 41% Vs. Year Ago


		Months of Supply In August, there was 1.9 months of supply available in Greater Williamsburg, compared to 1.3 in August 2023. That is an increase of 42% 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 109 in August 2023, an increase of 22%. There were 116 current contracts pending sale this August compared to 100 a year ago. The number of current contracts is 16% higher than last August.
		Sale Price to List Price Ratio In August, the average sale price in Greater Williamsburg was 99.9% 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 33, higher than the average last year, which was 25, an increase of 32%.


	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.