New Kent Is Showing Real Strength in 2026Latest Single-Family Housing Market UpdateCompiled by Tia Stanley Real Estate - RE/MAX CAPITALThe latest published housing data for single-family detached
Local Market Trend Insights: June 2024
Dated: July 26 2024
Views: 106
The Virginia areas covered by this most recent 7/23/2024 report are New Kent County, Charles City County, Williamsburg, James City County, & Yorktown/York County.
A Glimpse into Current Real Estate Trends in local Market
The real estate market in our area has shown some intriguing trends this past month, reflecting both challenges and opportunities for buyers and sellers alike. Here’s a detailed look at the latest data that has emerged this week.Sales Activity: A Mixed Bag
For the second consecutive month, the WAAR region experienced a decline in home sales. In June, the total number of homes sold dropped to 322, marking a significant 21.7% decrease from the previous year, which translates to 89 fewer sales. Breaking it down by counties:
- York County: Sales plummeted by 29.5%, with 43 fewer homes sold compared to last year.
- James City County: Experienced a 19.1% decline, with 35 fewer sales.
- New Kent County: Bucked the trend with a notable 14.9% increase, equating to seven more sales than the previous year.
Pending Sales: A Slight Downturn
Pending sales in the WAAR region also saw a downturn from last June, with a total of 252 pending sales. This represents a 9.7% decrease or 27 fewer sales compared to the same period last year. Notably:
- James City County: Showed a positive trend with four additional pending sales, up by 3.1%.
- New Kent County: Faced a sharp decline with 22 fewer pending sales, a drop of 41.5%.
Home Prices: A Modest Increase
On a brighter note, the WAAR area witnessed a modest increase in home prices. The median price of a home reached $432,750 in June, up by 1.9% or $7,905 from a year ago. Key highlights include:
- New Kent County: Saw a substantial rise in home prices, up by 7.9% or $31,201, bringing the median price to $425,541.
- Charles City County: Experienced a slight dip, with home prices falling by $6,500, a 2.4% decrease from last year.
Inventory: A Slight Decrease in Listings
The inventory in the WAAR market showed a slight decline in active listings by the end of June. There were 542 active listings, just two fewer than the previous year, a minimal 0.4% decrease. However, the changes varied significantly across different areas:
- Williamsburg: Had a notable reduction with 18 fewer listings, down by 31.0%.
- York County: Contrarily, saw an increase with 15 additional listings, up by 10.7%.
Conclusion
The latest data from the WAAR region paints a picture of a dynamic real estate market with varied trends across different counties. While some areas face declines in sales and pending transactions, others are witnessing growth and increasing home prices. As always, staying informed and adaptable is key to navigating this ever-evolving market.
Stay tuned for more updates and insights from Tia Stanley Real Estate - RE/MAX CAPITAL as we continue to monitor and report on the latest market developments. Contact Tia Stanley at 757-243-3245 for a detailed market value analysis and equity report specific to your property.
Sources: Virginia REALTORS®, data accessed July 15, 2024 Freddie Mac
Tia Stanley
A full-time REALTOR since 2006, I have nurtured relationships with clients, other agents and contractors earning trust and loyalty, resulting in repeat business, referrals, and quite a few friendships....
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Last Updated: September 10, 2026 4:21 PM UTC
