Williamsburg | Yorktown | New Kent | Virginia Key Market Trends: March 2021 - Source Virginia RealtorsThe March housing market was busy in the WAAR region's largerjurisdictions and somewhat
REAL ESTATE MARKET REPORT MARCH 2021
Dated: April 27 2021
Williamsburg | Yorktown | New Kent | Virginia
Key Market Trends: March 2021 - Source Virginia Realtors
The March housing market was busy in the WAAR region's larger
jurisdictions and somewhat sluggish in the smaller localities. Overall, there
were 429 sales in the WAAR region in March, up 20.8% from last year, a gain of 74
sales. Most of the additional sales occurred in James City County (+37.3%) and
York County (+12.0%). Sales activity was flat in New Kent County (+1.7%) and
declined in Charles City County (-33.3%).
Strong month for pending sales, most local areas see a surge compared to
last year. There were 385 pending sales across the WAAR footprint at the end of
March, 81 more than last year, representing a 26.6% increase. The strongest
growth occurred in Williamsburg (+50.0%), York County (+37.3%), and New Kent
Prices are rising rapidly in many parts of the WAAR footprint. At $360,410, the
average sales price in March in the WAAR market was more than $43,000 higher
than a year ago (+13.7%). James City County continues to see the most significant
average price growth in the region, climbing 18.5% in March, a gain of nearly
$60,000. Average sales price growth was also strong in Williamsburg this month
Supply remains tight in the WAAR market, new listings fall for the third
straight month. There were 546 active listings in the WAAR market at the end of
March, a 56.3% reduction from last year. There were 447 new listings in March,
down 8.8% from last year.
Tia Stanley - eXp Realty
...it matters who you hire!
Licensed to Sell Real Estate in VA
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