REAL ESTATE MARKET REPORT MARCH 2021

Dated: April 27 2021

Views: 389

Williamsburg | Yorktown | New Kent | Virginia 

Key Market Trends: March 2021 - Source Virginia RealtorsBLOG Tiles


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

County (+34.6%).

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

(+14.8%).

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!

Cell/Text: 757-243-3245

Email: tia@tiastanley.com

Web: tiastanley.com

Licensed to Sell Real Estate in VA

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Tia Stanley

My daily life is getting up early and working hard. It is my intent to encourage people, be respectful, compassionate, keep my word, laugh often, and just be nice. Faith in GOD keeps me joyful and gra....

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