It’s that time again—Stat Chat with Jackie—where I break down the latest market data without making your head spin. 🤓💁♀️
The Good, The Surprising & The “Wait, What?”
January’s market report for Williamsburg, Yorktown, & James City County is full of interesting shifts. If you’re a seller, a buyer, or just nosy (hey, I get it), here’s what you need to know!
🏡 Home Prices Keep Climbing… Slowly
The median sales price hit $457,500, which is up 1.7% from last month. Translation? Homes are still selling for top dollar, but we’re not seeing wild price jumps. If you’re a seller, this is solid news—buyers are still willing to pay, but overpricing is not your friend.
📉 Fewer Homes Closed This Month
Settled sales dropped 31.3%, meaning fewer homes actually made it to the closing table. This could be due to seasonal slowdowns, rising rates, or buyers taking their time. If you’re selling, this means pricing competitively and making your home stand out is key! If you’re buying, you may have a little more negotiating power.
📏 Buyers Are Paying More Per Square Foot
The median sold price per square foot rose to $217, up 1.9%. This suggests buyers are willing to pay a premium for the right home. If you’re thinking about selling, presentation and pricing matter! Staging, fresh paint, and small updates can go a long way in maximizing value.
🔄 More Inventory, But Not a Buyer’s Market Yet
Months Supply of Inventory jumped 42.9%! This means more homes are sticking around longer—giving buyers more options. But before you start thinking the market is shifting, keep in mind:
✔ Homes are still selling at 99.4% of the asking price
✔ The overall supply is still relatively low
Bottom Line?
If you’re selling, price it right and market it well—you’ll still attract strong offers.
If you’re buying, there’s more to choose from, but great homes still move fast!
Need advice on how to navigate this market? Let’s chat! 📲 757-870-1902
