• 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

    • A Quick update on our Spring babies
      Time for a quick update on our spring babies! We’ve currently got a dozen lambs so far in the Historic Area, with more on the way. Six ewes are still due to have little ones over the next few weeks – so keep an eye out for more lambs! When I went out to visit our...Read More »
    • Susan Higginson Nash: Pioneer Interior Decorator for the Restoration
      A stylish female figure can be seen in many photographs documenting the architectural team who undertook the restoration of Williamsburg’s historic district. She often stands out as the one lone woman amidst the group of men. In some photos, she is walking the grounds of Virginia plantation homes such as Mount Airy and Shirley and...Read More »
    • Finding Tranquil Spaces
      The historic area in the spring can be a little hectic. Between the excited school groups who are happily (and let’s face it, loudly) learning about our nation’s history, the gorgeous and varied dogs on DoG street, and the many other guests here to take in the beautiful weather and bright flowers… it can get...Read More »
    • Becoming Mrs. Washington: Martha the Mom
      Before she was Mrs. Washington, Martha was Mrs. Custis. It’s well known that Martha and George Washington were not blessed with any children of their own during their 40-year marriage (theories abound…we’ll get to that another time). Martha did have four children, though, during her first marriage to Daniel Parke Custis. This period of Martha’s...Read More » […]
    • There Will Be No Bystanders at Mr. Jefferson’s Garden Party
      Imagine being welcomed through the gates of the Governor’s Palace for an evening of drink, dancing, and delightful diversions. Now imagine everyone—you included—is suitably attired for their 18th-century personas. Then sprinkle in some fireworks. That’s just a little of what’s in store at “A Celebration of May: An Immersive Palace Garden Party” on Friday, Ma […]
  • Flickr Photos

    5524 Pennington Place

    5524 Pennington Place

    5524 Pennington Place

    More Photos

Hampton Roads Real Estate Market continues to stabilize in 2013

The first quarter of 2013 ended strong for the Hampton Roads real estate market as March 2013 posted nearly a double digit percentage increase in residential settled sales when compared to 2012  Homes under contract increased significantly year-over-year while active home listings continued to decline, once again lowering the months’ supply of inventory

The Hampton Roads region saw an increase of 8.53% in closed home sale for March 2013 when compared to March 2012. Of the region’s seven major cities (Chesapeake, Hampton, Newport News, Norfolk, Portsmouth, Suffolk, and Virginia Beach) Portsmouth and Suffolk recorded the highest year-over-year increases of 27.03% and 13.10% respectively. Hampton and Norfolk were the only two cities to experience year-over-year decreases, dipping 21.60% and 2.68%. Residential closed  sales are up 10.71% for the first quarter of 2013 (January-March) when compared to first quarter 2012.

The residential median sales price is currently $199,000, a considerable increase of 7.57% from March 2012’s $185,000.

Last month’s largest statistical improvement was in residential under contract sales, with a year-over-year increase of 12.84%. Portsmouth and Newport News saw the largest increases of 36.17% and 18.18% respectively. .

The region saw a drop of 8.62% compared to last year for active home listings. Newport News and Chesapeake contributed largely to this decline, with recorded reductions in inventory of 18.75% and 17.71% respectively.

The overall decrease in the number of homes for sale has resulted in a 6.38 months’ supply of inventory, as compared to 7.57 months in March 2012. A balanced real estate market typically maintains a 5 to 6 months’ supply of inventory, so this statistic does suggest a stabilizing market for the area.

Short sales & foreclosures, continue to have an impact on the region, while maintaining a relatively consistent market share. In March 2013 25.20% of all resale residential active listings in the Hampton Roads real estate market were distressed properties. This is little change from March 2012 when distressed properties accounted for 25.73% of active listings.

image

Distressed properties comprised 28.44% of all resale residential settled sales in March 2013, a 5.09% decrease from the same time last year, when distressed properties accounted for 33.53%

These statistics are based solely on on listings entered into the Real Estate Information Network by REIN broker members. The geographical area includes southeastern Virginia (Norfolk, Virginia Beach, Chesapeake, Portsmouth, Suffolk, Franklin, Smithfield, Isle of Wight, Hampton, Newport News, York County and Poquoson) to Williamsburg, James City County, Gloucester, Middlesex, Virginia’s Eastern Shore and northeastern North Carolina. Reports include all property types: Attached and Detached Residential, Duplex, Apartments, Commercial, and Land & Farms.

 

Psst….    .I’m a real estate agent.

This post was authored by local resident and REALTOR, John Womeldorf. John is known around town as Mr. Williamsburg, for both his extensive knowledge of the Williamsburg/ Hampton Roads area and  his expertise in the local real estate market.

I can help you access all the information you will need about choosing a neighborhood and buying a home in New Kent, Gloucester, Newport News, Hampton, York County, Smithfield, Williamsburg, Poquoson or the greater Hampton Roads area, including area information on schools, local government, shopping, activities for the children and more! Whether you have made a decision to relocate, retire or are just considering a move to Williamsburg or  Hampton Roads VA, let me help make your transition or PCS to the  area a smooth and enjoyable one!

Hampton Roads is a transient community due to the large population of military members in the area. I have a unique perspective on relocation and have helped many families move in and out of the area. I understand the kind of support team it takes to make a smooth transition.

Area Orientations

Complete tours can be scheduled to help you familiarize yourself with Williamsburg and Hampton Roads neighborhoods, home prices, shopping centers, military bases, recreational facilities, public & private schools and transportation systems. My orientation will provide you with awareness of aircraft noise & accident potential zones, flood zones, major traffic patterns and commute times to your job.

You can search homes for sale , active adult communities, 55+ communities, condos and townhomes ,foreclosures/ REO,  land, building lots, commercial property  in Williamsburg , Yorktown, New Kent, Gloucester, Poquoson as well as the surrounding areas of Hampton Roads, Virginia

You can reach me by phone at 757-254-8136 or email  John@MrWilliamsburg.com

I look forward to serving your real estate needs!

Best,

John

Advertisements

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: