• 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

    • 7 Ways Our Free App Will Improve Your Visit
      The official Colonial Williamsburg Explorer app just received another big upgrade, so now there are even more reasons to make sure you make it part of your visit. Our website is a great way to plan your adventure from home, but when you’re here, the app is an indispensable tool to make the most of...Read More »
    • Reflections of a Revolutionary in Residence
      “Papi, am I a princess?” “Yes, Anabella, you are. But we all are. In our country every one of us is a king or a princess,” I said, echoing the words of young Mr. Jefferson as played by Kurt Smith. She was right to ask: my family was feted like never before during my recent...Read More »
    • Join Us for the 4th of July!
      Seriously, is there a better place in America to celebrate the Fourth of July than Williamsburg? In times that incline us toward cynicism, here is a place where you can leave that behind for a little while, and renew your sense of patriotism. This Independence Day combines great traditions with some fresh twists. It’s a...Read More »
    • The Word on DoG Street: Why We Need Your Help
      The word on DoG Street is that the Colonial Williamsburg Foundation receives state and federal taxpayer support and that an increase in that support could help solve the serious financial challenges facing the Foundation. If only that were true. CWF receives $0 annual financial support from either the state or federal government. Zero. We can’t...Read More » […]
    • An Anecdotal History–and Mythology–of the Stars and Stripes
      June 14 is Flag Day, marking the day in 1777 that the Second Continental Congress adopted the stars and stripes as America’s national banner. But it takes a bit more than the dawn’s early light to make out the origins of the flag. Still, it’s worth a try. Let’s start with the stripes. In 1769 some...Read More »
  • Flickr Photos

    5524 Pennington Place

    5524 Pennington Place

    5524 Pennington Place

    More Photos

Hampton Roads Home Sales Up, Inventories Down & the Market Is Recovering

As we approach the mid-point for 2013, real estate statistics for the Hampton Roads market continue to undergo consistent improvement, setting benchmarks that tell of a recovering market. May 2013 saw steady year-over-year increases in residential pending and settled sales, while the number of residential homes for sale continues to dip, thus lowering the market’s months’ supply of inventory

The strongest performing statistic for May 2013 was the number of residential pending sales; up 27.18% when compared to May 2012. Our region has not seen a percentage increase this high since January 2012 when it jumped 32.9% year-over-year from January 2011. Each of the region’s seven major cities (Chesapeake, Hampton, Newport News, Norfolk, Portsmouth, Suffolk, and Virginia Beach) recorded year-over-year increases in residential pending sales. Suffolk and Norfolk contributed significantly to this surge, with year-over-year increases of 48.67% and 35.53% respectively, while Newport News and Hampton saw the smallest year-over-year increases of 8.9% and 5.77% respectively

Residential settled sales increased 5.73% when compared to May of last year. Each of the area’s seven major cities, with the exception of Hampton, experienced year-over-year increases in the number of housing units sold. Suffolk and Portsmouth underwent increases of 18.68% and 13.73%; contrarily Hampton suffered a 15% decline in regard to year-over-year residential settled sales. The region’s residential median sale price is currently $205,000, a nominal increase of 1.23% from May 2012’s $202,500.

As the year progresses, residential listing inventories continue to wane. There was a 5.84% decrease in the number of residential active listings from May 2012 to May 2013. Portsmouth was the only city not to experience a year-over-year drop in the number of homes for sale, with Newport News and Chesapeake experiencing the largest declines of 16.82% and 9.91% respectively. The region’s months’ supply of inventory is currently at 6.58 months, which tracks as a 13.42% decline from May 2012’s 7.6 months, but an increase of 1.5% from last month’s 6.48. Industry benchmarks accept a six to eight months’ supply as an indicator of a healthy market.

In May 2013, distressed homes (those that are either foreclosures or short sales) accounted for 22.41% of all residential active resale listings. This is the smallest percentage of distressed homes in the residential active listing makeup in the past 18 months. Of the total number of residential resale settled sales  26.25% were distressed properties, a statistic nearly identical to that recorded in May 2012 at 26.26%. The percentage of distressed properties as residential resale sold listings has consistently declined throughout 2013 from 34.88% in January to 26.25% in May.

 

image

These statistics are from our local MLS , the Real Estate Information Network, Inc., (REIN) serves real estate brokers in the Tidewater / Hampton Roads area of Virginia. Areas covered include :

Carrolton,  Chesapeake,Gloucester, Hampton, Isle of Wight, Portsmouth  Mathews, Newport News Norfolk, Poquoson, Smithfield, , Suffolk, Surry,  Va Beach, Yorktown  and York County Virginia

Search Foreclosures/ REO / Foreclosed homes in Hampton Roads here

 

Time to Buy? Sell?

As we always say, the best time to buy or sell a home is when you need to buy or sell. If you have a house to sell, selling when its a buyers market may hurt you on the selling end, but you’ll make it up on the buying end. If you’re trying to get into the market for the first time, the only way you’ll know that we’ve “hit bottom” is when its in the rear view mirror. Work with professionals who can help you analyze your financial and lifestyle to determine if now is the right time to buy or sell.

Looking strictly at the numbers, it appears the recommendation for this month is (again)…it’s time to sell. With inventory at record lows, a home that’s priced right will have no problem finding a buyer. As we head into June 2013, buyers who have been waiting for more inventory will continue their searches. Get your home on the market now and be moved into your new home by July ! If you’re looking to sell, we can help you get top dollar for your home in the shortest time. For more info about the best home selling program in Williamsburg VA  visit Sell MY WILLIAMSBURG HOME

If you’re a buyer, that doesn’t mean sit on the fence and wait. Interest rates are increasing and will continue to do so. Buying now could mean a difference in hundreds of dollars to your payment. As more and more inventory gets snatched up, you’ll find less and less available. Waiting until the market slows down could mean you could afford less home as interests rates go up. And, as buyers continue to snatch up everything, market values will go up as well. If you’re looking to get into the market, the best time to find a great deal is any time you can.

Questions About the Williamsburg Real Estate ?

Do you have questions about Williamsburg Real Estate ? Call or text 757.254.8136 or email John@MrWilliamsburg.com  and we’ll help you in any way we can.

If you’re looking to buy or sell Williamsburg or Yorktown VA real estate, don’t forget to check out our Buyer Center or Seller Center  for more tips.

nosy neighbor mr williamsburg Nosy Neighbor

Are you interested in monitoring home value trends in your Williamsburg or Yorktown VA  neighborhood?  If you would like to receive e-mail alerts when new listings or sales happen in your neighborhood, we can set you up.  There is no cost or obligation to participate in our Nosy Neighbor  e-alerts, just let us know which neighborhood(s) you are interested in following, and we’ll make it happen! Fill out the form here

What’s my home worth ?

Mr Williamsburg offers a complimentary, no obligation market analysis of your Williamsburg VA home.  It’s a great way to get a handle on what your home might sell for in today’s market, with no obligation to list.  Call him today at 757,254,8136 or click here to request more info or an appointment.

Advertisements
%d bloggers like this: