Local Market Trend Insights: May 2025

Dated: June 24 2025

Views: 361

MARKET REPORT

May 2025 Real Estate Snapshot: Signs of Strength, Opportunity & Shifting Market 

The tide may be turning from Seller's Market toward a balanced and potential Buyer's Market. 

After four consecutive months of declining sales, the local housing market just proved it still has some muscle. May 2025 brought a breath of fresh air to the WAAR region, with several counties showing strong growth in both sales and new listings. Whether you're buying, selling, or just watching the market, this month’s activity sends a message worth tuning into.

Sales Rebound – A Welcome Shift for the Market

May closed with 322 home sales across the WAAR region—a 2.5% boost year-over-year. This is the first uptick in five months, signaling renewed buyer confidence and possibly a late-spring surge.

New Kent County saw a 20% jump in closed sales, while Charles City County surged a staggering 140%, each recording 7 more home sales than the same month last year. York County, however, experienced a drop, with 7 fewer sales (-7.7%).

Pending Sales Rise – Especially in New Kent

Pending sales, a key predictor of next month’s closings, also climbed 4.9% across the region. There were 279 homes under contract in May—13 more than last year.

New Kent County led the charge again, with a fourth straight month of gains, adding 17 pending sales (+43.6%).

On the flip side, James City County and Williamsburg both cooled, posting declines of -4.7% and -27.8%, respectively.

Home Prices Continue Their Climb (With One Notable Exception)

Buyers hoping for price relief may need to keep looking—the median sale price hit $453,238, rising 4.5% year-over-year across the WAAR region.

Charles City County led price growth, up nearly $80,000 (+29.6%).

James City County also posted a healthy $39,500 gain (+9.1%).

Surprisingly, New Kent County bucked the trend, with home prices dipping $22,439 (-4.7%) - a potential window of opportunity for some buyers. I attribute this primarily to new construction listed at base prices and more available inventory. 

Listings Surge—Inventory is Back on the Market

If you’ve been waiting for more choices, this is your month.

Active listings in the region soared 74.7% year-over-year, reaching 896 homes on the market—an increase of 383.

James City County doubled its inventory (+100.0%), adding 217 listings. Williamsburg 70 listings a 125.8% increase, York County followed, with 68 new listings (+44.4%). New Kent showing 164 listings up 57.7% year over year.

Charles City County was the only area to see a slight dip, with one fewer listing than last year.

What This Means for You

If you're thinking of selling, now may be a strategic time to list before prices potentially decrease due to more supply and less competition.

If you're buying, the increase in listings across New Kent, James City, and York counties gives you more negotiating power—and perhaps a little less pressure.

Whether you’re relocating, upsizing, downsizing, or investing, local knowledge is everything. Let’s talk strategy in this shifting market.

Call Tia Stanley – RE/MAX CAPITAL at 757-243-3245

Serving New Kent, Williamsburg, Yorktown, James City County, Gloucester, and Charles City County, VA

#NewKentRealEstate #WilliamsburgVAHomes #YorktownListings #JamesCityCountyRealtor #VirginiaHousingMarket #TiaStanleyRealEstate #REMAXCapital

Sources: Virginia REALTORS®, Data Accessed Jun 15, 2025 Freddie Mac

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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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