WAAR REGION: NEW KENT COUNTY | CHARLES CITY COUNTY | WILLIAMSBURG | JAMES CITY COUNTY | YORKTOWN | YORK COUNTY | VIRGINIA

A Comprehensive Look at February 2025 Market Trends in the WAAR Region

The February 2025 real estate market in the WAAR area has shown a marked shift from previous trends, with notable declines in sales and pending sales across multiple localities. As the region navigates these fluctuations, understanding the underlying data becomes increasingly important for buyers, sellers, and real estate professionals alike.

Decline in Home Sales Across the WAAR Area

For the second consecutive month, home sales within the WAAR region have decreased significantly. February 2025 reported a total of 192 home sales, which is 41 fewer than the previous year—a 17.6% decline. Every local market experienced a dip in sales activity, with York County being the most impacted, suffering a 28.4% drop corresponding to 23 fewer sales compared to the same period last year.

James City County and Williamsburg also faced downturns, each recording seven fewer sales than February 2024. The overall decline in sales is concerning for market stability and growth as we move further into 2025.

Reduced Pending Sales Point to Weakened Buyer Demand

Pending sales also saw a substantial decrease throughout the WAAR region in February 2025. Compared to the same month last year, pending sales have fallen by 24.3%, totaling just 190 this month—61 fewer than last February.

York County was hit hardest, with a staggering 50.8% decline, equating to 31 fewer pending sales than the previous year. James City County experienced a significant decrease as well, with a 21.6% drop, accounting for 27 fewer pending sales. Interestingly, there were some positive notes: Williamsburg saw an increase of 16.7%, while New Kent County inched up by 2.3% in pending sales.

Price Growth Remains Positive, but New Kent County Struggles

Despite the decline in sales, median home prices in the WAAR market continue to exhibit moderate growth. February 2025 saw the regional median home price rise to $423,950, reflecting a 1.9% increase over last year—a gain of $7,950.

York County led the charge with a 16.9% price increase, pushing the median home price to $458,815. This sharp increase highlights the ongoing demand and competitiveness within York County’s real estate market.

On the other hand, New Kent County experienced a striking decline in home prices. The median price in New Kent County plummeted by $127,500 or 25.0% compared to last year. This sharp decline warrants further analysis and raises questions about potential underpricing or changing buyer demand in the area. Another consideration is the new construction homes on the market are listed at 'STARTER' prices which usually increase with add-ons by the time construction has completed and closes. 

Inventory Growth Adds Complexity to Market Dynamics

For the eighth consecutive month, the number of active listings has increased throughout the WAAR region. As of the end of February 2025, there were 579 active listings—an impressive 30.4% increase from the previous year, amounting to 135 additional properties on the market.

James City County saw the largest spike in active listings, with a 50.0% increase, contributing to the region’s overall inventory growth. However, Charles City County experienced the opposite trend, with listings dropping by 37.5%.

Key Takeaways for Buyers and Sellers

The February 2025 market trends reveal a complex landscape in the WAAR region. While sales and pending sales have decreased, median home prices remain stable or growing in most areas, with the exception of New Kent County, which is experiencing significant price drops.

Inventory growth across the region suggests that buyers may have a few more options to choose from, but also indicates that sellers need to price appropriately to secure deals.

Navigating these market conditions requires expertise and strategic planning. If you’re considering buying or selling in the WAAR region, reach out to me, Tia Stanley, at RE/MAX CAPITAL. I’m here to help you make informed decisions in a shifting market. 757-243-3245.

Stay updated with the latest trends and insights by checking back here regularly!

Source: Virginia REALTORS®, data accessed March 15, 2025