A Certified Luxury Home Specialist and a member of Coldwell Banker Traditions Global Luxury and Lifestyles Team, I have worked with many clients over the past few years on the sale or purchase of a luxury home and am familiar with the lifestyle options and luxury home properties available in the Williamsburg area.
LUXURY & LIFESTYLE PROPERTIES SOLD
WHAT’S HAPPENING IN THE WILLIAMSBURG, VA LUXURY HOME MARKET?
The graph below represents single family (detached) luxury home sales ($750,000 and above) in the Williamsburg VA market (zip codes 23185, 23188, 23089, 23168). The closer the line (new listings in that month) is to the bar (sold listing for that month) the more balanced the luxury home market. If the line is well above for a period, then we have excess inventory. If the line moves below the bar then we have a shortage of inventory.
Details for the units sold the previous 30 days are below. Be sure to check back on the first of every month for updated market information!
If you have specific questions regarding the information below or if you want detailed information for recent home sales in your neighborhood, please contact me at (757) 254-6678 or tevans@cbwilliamsburg.com.
(Report data generated 3/1/23)
HOME BUYING TRENDS
In addition to considering recent home sales, it’s important to understand what today’s luxury home buyer is seeking in a property. Some of the trends we are seeing include:
- Properties selling well if they are priced right and move-in ready
- More cash buyers are returning to the market
- Trend toward smaller homes (under 3500 sq ft)
- More homes being purchased as a secondary residence or vacation home
- Sustainability is important – many buyers are seeking Smarthome features such as air purifiers, lighting, thermostats, humidity sensors and other features that make a home environmentally friendly.
If you have specific questions about the information provided or if you would like to learn more about the Coldwell Banker Global Luxury Marketing Program, contact me at (757) 254-6678 or tevans@cbwilliamsburg.com.
