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FOCUS ON: JAMES CITY COUNTY HOUSING MARKET |
SEPTEMBER 2024 |
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Units Sold
75 |
Active Inventory
188 |
Median Sale Price
$525,000 |
Days On Market
25 |
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Down -12%
Vs. Year Ago |
Up 30%
Vs. Year Ago |
Up 18%
Vs. Year Ago |
Up 4%
Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in September, with 75 sold this month in James City County Real Estate versus 94 last month, a decrease of 20%. This month's total units sold was lower than at this time last year, a decrease of 12% versus September 2023.
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Active Inventory
Versus last year, the total number of homes available this month is higher by 43 units or 30%. The total number of active inventory this September was 188 compared to 145 in September 2023. This month's total of 188 is lower than the previous month's total supply of available inventory of 189, a decrease of 1%.
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Median Sale Price
Last September, the median sale price for James City County Homes was $445,000. This September, the median sale price was $525,000, an increase of 18% or $80,000 compared to last year. The current median sold price is 8% 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.
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New Listings
95 |
Current Contracts
78 |
Sold Vs. List Price
99.3% |
Months of Supply
2.5 |
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Down -4%
Vs. Year Ago |
Down -16%
Vs. Year Ago |
Down -0.6%
Vs. Year Ago |
Up 47%
Vs. Year Ago |
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Months of Supply
In September, there was 2.5 months of supply available in James City County, compared to 1.7 in September 2023. That is an increase of 47% 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.
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New Listings & Current Contracts
This month there were 95 homes newly listed for sale in James City County compared to 99 in September 2023, a decrease of 4%. There were 78 current contracts pending sale this September compared to 93 a year ago. The number of current contracts is 16% lower than last September.
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Sale Price to List Price Ratio
In September, the average sale price in James City County was 99.3% of the average list price, which is 0.6% lower than at this time last year.
Days on Market
This month, the average number of days on market was 25, higher than the average last year, which was 24, an increase of 4%.
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*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. |