Market Update April 3, 2023

Spring Real Estate Market in Williamsburg Virginia

The traditional Spring real estate market is not so “traditional” any more. The inventory shortage of the past couple of years has changed the spring real estate market and this year is no different.

Because sellers are not wanting to sell for a variety of reasons, there are fewer homes available to purchase and we are seeing many homes selling over list price once again. A balanced real estate market in the Williamsburg VA area will typically have an average of 500 homes listed for sale in the WIlliamsburg/James City County MLS. As of today (4/3/23) we have approximately 116 single family homes on the market.

What does this mean for sellers? It’s a good time to sell as you have less competition and you will likely see competitive offers if your home is in “move in ready” condition. With regard to buyers, you will need to be ready to act quickly and be willing to be creative with offers that you submit.

To learn more about the Williamsburg area real estate market, call/text me at (757) 254-6678.

Click here to read more about the Spring real estate market on a national level.

Ted Evans, Associate Broker         Coldwell Banker Traditions

(757) 254-6678 or