The Long & Foster Market Minute

Focus On: Greater Williamsburg Housing Market June 2021

Zip Code(s): 23188 and 23185
Units Sold
239
Active Inventory
185
Median Sale Price
$405,000
Days On Market
21
Up 17%
Vs. Year Ago
Down -53%
Vs. Year Ago
Up 19%
Vs. Year Ago
Down -64%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 239 sold this month in Greater Williamsburg Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 210 units or 53%. The total number of active inventory this June was 185 compared to 395 in June 2020. This month's total of 185 is higher than the previous month's total supply of available inventory of 179, an increase of 3%.

Median Sale Price
Last June, the median sale price for Greater Williamsburg Homes was $341,000. This June, the median sale price was $405,000, an increase of 19% or $64,000 compared to last year. The current median sold price is 2% lower than in May.

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


New Listings
188
Current Contracts
154
Sold Vs. List Price
101.0%
Months of Supply
0.8
Up 3%
Vs. Year Ago
Down -23%
Vs. Year Ago
Up 3.4%
Vs. Year Ago
Down -60%
Vs. Year Ago

Months of Supply
In June, there was 0.8 months of supply available in Greater Williamsburg, compared to 1.9 in June 2020. That is a decrease of 60% 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 188 homes newly listed for sale in Greater Williamsburg compared to 183 in June 2020, an increase of 3%. There were 154 current contracts pending sale this June compared to 200 a year ago. The number of current contracts is 23% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Greater Williamsburg was 101.0% of the average list price, which is 3.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 21, lower than the average last year, which was 58, a decrease of 64%.

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.