• Click Here to Subscribe to Email updates

  • psst … I’m a Realtor! Thanks for stopping by my website. I would love to help you find your dream home and community in the Hampton Roads or Williamsburg area or to sell your existing home. This website is authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of Hampton Roads and the historic triangle, and his expertise in the local real estate market. His websites, WilliamsburgsRealEstate.com and Mr Williamsburg.com were created as a resource for folks who are exploring a move to Williamsburg, VA , Hampton Roads VA and the surrounding areas of the Virginia Peninsula. On his website you can search homes for sale , foreclosures, 55+ active adult communities, condos and town homes , land and commercial property for sale in Williamsburg, Yorktown, New Kent, Poquoson, and Gloucester, VA as well as surrounding markets of Carrolton, Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry, Va Beach, Yorktown and York County Virginia You can reach John by email John@MrWilliamsburg.com or phone @ 757-254-813
  • RSS Colonial Williamsburg News

    • ‘Tis the Season: An Un-Colonial Christmas
      For me, Christmas this year started in March. I know. I am one of those people who does not decorate until AFTER Thanksgiving. But there I was being tasked with creating a new show for our evening programs at Christmas. And I was excited! I love the holiday season in Colonial Williamsburg; the history that...Read More »
    • This Giving Tuesday, We Need Your Help!
      Giving Tuesday is a time to celebrate and encourage the joy of giving back to nonprofits that matter—and the Colonial Williamsburg Foundation needs your help! With your support, Colonial Williamsburg will continue to: Preserve buildings, landscapes, trades, and skills that were critical at the time of Revolution Engage history lovers of all ages by bringing. […]
    • Give the Gift of Colonial Williamsburg with a Present from the Past!
      Looking for meaningful gifts this holiday season? Delight your loved ones by giving a gift that makes a difference: a Present from the Past from Colonial Williamsburg. Our mission to preserve and impart the story of our past is vital, now more than ever. Whether your passion is our beautiful gardens, Fifes and Drums, or...Read More »
    • Welcome to Fall with the Center for Teaching, Learning, and Leadership!
      Editor’s Note: The Colonial Williamsburg Center for Teaching, Learning, and Leadership is joining the Making History blog to bring education-related resources and news straight to your inbox, along with the latest news and “freshest advices.”  With classes underway in the nation’s schools, educators nationwide have Colonial Williamsburg on their side in tell […]
    • Art Museums Reach New Audiences Online Through Sotheby’s Partnership
      When you have world-class collections such as we have at the Art Museums of Colonial Williamsburg (known individually as the Abby Aldrich Rockefeller Folk Art Museum, now celebrating its 60th anniversary year, and the DeWitt Wallace Decorative Arts Museum), you want to share them with as broad an audience as possible beyond the visitors who...Read More » […]
  • Flickr Photos

Hampton Roads Real Estate Slowly Returning To Normal

In our area real estate market there are four MLS used by real estate brokers. The primary one for Hampton Roads is REIN ( Real Estate Information Network) It primarily covers the Carrolton,  Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth  Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry,  Va Beach, Yorktown  and York County Virginia

In the Williamsburg/ York / New Kent Area WMLS is the primary MLS, Gloucester has it’s own MLS  and finally Richmond has it’s own CVRMLS.

So when you see sales statistics its important to note what regions are used in the calculations.

Here is a October 2011 Update from REIN:

The residential real estate market in Hampton Roads posted another solid month as it shows signs of stabilizing and returning to more normal levels. However, the impact that distressed homes have on the non-distressed homes inventory continues to slow the recovery of the overall market. The number of under contract homes continued to post year-over-year gains while the number of homes available for sale fell again.

The number of homes listed for sale plunged 16.6% in October 2011 when compared to October 2010. This marks the fourth consecutive month that the number of homes for sale has fallen by more than 10% on a year-over-year basis. Norfolk and Virginia Beach each saw the inventory of homes for sale drop by more than 21%. Chesapeake experienced the smallest decline of 7.2%. As a region, there was a 3% drop in homes for sale on a month-to-month basis from September 2011 to October 2011. October’s 12,514 homes for sales is the lowest number of active listings since December 2009 when there were 12,474 homes for sale.


Residential under contract sales jumped 29.6% last month when compared to October 2010. Newport News under contract sales surged by 76% in October 2011 while Norfolk and Portsmouth each saw their year-over-year percentages climb by 52% and 60% respectively. Of the seven major cities, Virginia Beach showed the lowest year-over-year gains at 11.4%. The number of under contract sales is generally a leading indicator of future settled sales activity over the next month or two as the contracts go to closing. With year-over-year gains this high in magnitude, the real estate market appears poised for solid sales figures as fall ends and winter begins. Settled sales grew by 17% in October 2011 when compared to those homes which settled in October 2010. Norfolk, Hampton and Newport News all experienced gains of 25% or more for the month when compared to the same time last year. Virginia Beach saw the smallest year-over-year growth in the number of settled sales, up 7.4% for the month. However, the median settled sales price of the homes settled last month was down 10.7% when compared to the same time last year. The median settled sales price for homes sold year-to-date is down $20,000 to $195,000 from year-to-date October 2010.

Distressed homes, those houses that are either bank owned or short sales, climbed as a percentage of settled sales in October 2011 to 33.2%. This percentage has been 29% or higher every month since September 2010. The percentage of homes for sale that distressed homes comprise also increased in October 2011 to 24.3%. This measure has been 20% or higher every month since August 2010. Both of these statistics appear to be rising as percentages; however, the underlying number counts for each percentage are decreasing as the real estate market starts its seasonal slowdown.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: