MARKET INDICATORS REPORT
SEPTEMBER
2020
WAAR Market Indicators Report
Sep-20 Indicator
25.9% 413 Sales
20.1% 353 Pending Sales
21.4% 460 New Listings
6.9% $343,433 Average List Price
7.9% $341,078 Average Sales Price
6.1% $319,900 Median Sales Price
3.3% $148 Average Price Per Square Foot
35.8% $140.9 Sold Dollar Volume (in millions)
1.2% 99.6% Average Sold/Ask Price Ratio
30-YR Fixed 2.81 % -22.6% 42 Average Days on Market
15-YR Fixed 2.35 % -52.4% 15 Median Days on Market
5/1-YR ADJ. 2.90 % -22.8% 947 Active Listings
OCT 2005 OCT 2020 -29.8% 2.8 Months of Supply
October 15, 2020
YoY Chg
WAAR Market Dashboard
Key Market Trends: September 2020
INTE
REST
RATE
TRAC
KER
Sales growth resumed in much of the WAAR footprint this month; largestgains in James City County. Following flat sales last month, activity in theWAAR housing market rose sharply in September. There were 413 sales thismonth in the region, a 25.9% gain from a year ago. Most of the additional salesthis month occurred in James City County, which had a 56.4% spike in sales.
Pending sales continue to rise; single-family detached driving growth.There were 353 pending sales in September in the WAAR footprint, a 20.1%gain from last year. Most of the additional pending sales are of single-familydetached homes in New Kent (+75.8%) and James City (+41.2%) counties. Therise in these local markets reflects buyers who likely paused home searchesduring the early months of the on-going pandemic. Some local areas have beenslower to recover such as York County (-22.6%) and Williamsburg (-66.7%).
Sales prices continue to climb in most parts of the region; reflect tightinventory. The average sales price in September in the WAAR housing marketwas $341,078, up 7.9% from last year. Williamsburg led the region in price gain,with a 20.7% jump in the average sales price.
Overall inventory remains very low, however, new listings surged inSeptember as more sellers enter the market. The inventory of active listingsat the end of September was 22.8% lower than it was a year ago in the WAARarea. Despite this decline, new listings rose sharply this month, climbing 21.4%from last year, the largest increase in 3 years.
Sources: Virginia REALTORS®, data accessed October 15, 2020, Federal Reserve Bank of St. Louis 2
Report Index
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Average Sold to Ask Price Ratio ---------------------------------------------------------------------- 15
Average Days on Market ------------------------------------------------------------------------------- 16
Median Days on Market -------------------------------------------------------------------------------- 17
Active Listings ---------------------------------------------------------------------------------------------- 18
Months of Supply ----------------------------------------------------------------------------------------- 19
Area Overview - Total Market ------------------------------------------------------------------------- 20
Area Overview - Total Market YTD ------------------------------------------------------------------ 21
Area Overview - Single-Family Detached Market ---------------------------------------------- 22
Area Overview - Single-Family Detached Market YTD ---------------------------------------- 23
Area Overview - Townhome & Condo Market -------------------------------------------------- 24
Area Overview - Townhome & Condo Market YTD -------------------------------------------- 25
Sold Dollar Volume ---------------------------------------------------------------------------------------
Median Sales Price ---------------------------------------------------------------------------------------
Market Activity - WAAR Footprint --------------------------------------------------------------------
Total Market Overview ----------------------------------------------------------------------------------
Single-Family Detached Market Overview --------------------------------------------------------
Townhome & Condo Market Overview -----------------------------------------------------------
Sales -----------------------------------------------------------------------------------------------------------
Pending Sales ----------------------------------------------------------------------------------------------
New Listings ------------------------------------------------------------------------------------------------
Average List Price -----------------------------------------------------------------------------------------
Average Sales Price ---------------------------------------------------------------------------------------
Consumers Should Consult with a REALTOR®.Buying or selling real estate, for a majority of consumers, is one of the most important decisions they will make. Choosing a real estate professional continues to be a vital part of this process.
Identify a Professional to Manage the Procedure.REALTORS® are well-informed about critical factors that affect your specific market area – such as changes in market conditions, consumer attitudes and interest rates.
Are You Ready to Buy or Sell Real Estate? Contact an experienced REALTOR®.
3
Market Activity - WAAR Footprint
Jurisdiction % Chg
Charles City County -57.1%
James City County 56.4%
New Kent County 9.3%
Williamsburg -46.2%
York County 16.1%
WAAR 25.9%328 413
Total Sales
43 47
26 14
112 130
Sep-19 Sep-20
7 3
140 219
-57.1% +56.4%
+16.1%
-46.2%
+9.3%
Source: Virginia REALTORS®, data accessed October 15, 2020 4
Total Market Overview
Key Metrics Sep-19 Sep-20 YoY Chg YTD 2019 YTD 2020 YoY ChgSep-18 Sep-20
Sales 328 413 25.9% 2,942 3,167 7.6%
Pending Sales 294 353 20.1% 3,066 2,914 -5.0%
New Listings 379 460 21.4% 4,361 4,048 -7.2%
Average List Price $321,410 $343,433 6.9% $328,810 $342,938 4.3%
Average Sales Price $316,251 $341,078 7.9% $323,202 $338,877 4.8%
Median Sales Price $301,500 $319,900 6.1% $299,900 $315,000 5.0%
Average Price Per Square Foot $143 $148 3.3% $143 $150 4.9%
Sold Dollar Volume (in millions) $103.7 $140.9 35.8% $950.9 $1,074.3 13.0%
Average Sold/Ask Price Ratio 98.4% 99.6% 1.2% 98.4% 99.1% 0.7%
Average Days on Market 55 42 -22.6% 60 51 -14.1%
Median Days on Market 32 15 -52.4% 33 22 -33.3%
Active Listings 1,226 947 -22.8% n/a n/a n/a
Months of Supply 4.0 2.8 -29.8% n/a n/a n/a
2-year Trends
Source: Virginia REALTORS®, data accessed October 15, 2020 5
Single-Family Detached Market Overview
Key Metrics Sep-19 Sep-20 YoY Chg YTD 2019 YTD 2020 YoY ChgSep-18 Sep-20
Sales 267 330 23.6% 2,458 2,617 6.5%
Pending Sales 243 284 16.9% 2,543 2,491 -2.0%
New Listings 334 380 13.8% 3,695 3,401 -8.0%
Average List Price $342,952 $368,604 7.5% $348,343 $364,872 4.7%
Average Sales Price $337,894 $366,165 8.4% $342,258 $360,433 5.3%
Median Sales Price $319,000 $340,000 6.6% $319,744 $337,348 5.5%
Average Price Per Square Foot $147 $149 1.5% $144 $151 5.0%
Sold Dollar Volume (in millions) $90.2 $120.8 33.9% $841.3 $943.6 12.2%
Average Sold/Ask Price Ratio 98.7% 99.7% 1.0% 98.4% 99.1% 0.7%
Average Days on Market 53 42 -20.7% 60 51 -14.6%
Median Days on Market 31 14 -54.8% 32 21 -34.4%
Active Listings 1,077 750 -30.4% n/a n/a n/a
Months of Supply 4.2 2.8 -32.8% n/a n/a n/a
2-year Trends
Source: Virginia REALTORS®, data accessed October 15, 2020 6
Townhome & Condo Market Overview
Key Metrics Sep-19 Sep-20 YoY Chg YTD 2019 YTD 2020 YoY ChgSep-18 Sep-20
Sales 61 83 36.1% 484 550 13.6%
Pending Sales 51 69 35.3% 523 423 -19.1%
New Listings 45 80 77.8% 666 647 -2.9%
Average List Price $227,121 $243,356 7.1% $229,610 $239,420 4.3%
Average Sales Price $221,517 $241,332 8.9% $226,426 $237,145 4.7%
Median Sales Price $220,000 $224,000 1.8% $222,750 $227,670 2.2%
Average Price Per Square Foot $140 $135 -3.2% $138 $143 3.5%
Sold Dollar Volume (in millions) $13.5 $20.0 48.2% $109.6 $130.7 19.3%
Average Sold/Ask Price Ratio 97.2% 99.2% 2.0% 98.5% 99.0% 0.5%
Average Days on Market 63 44 -29.9% 57 51 -11.6%
Median Days on Market 34 21 -38.2% 35 27 -22.9%
Active Listings 149 197 32.2% n/a n/a n/a
Months of Supply 3.0 2.8 -7.9% n/a n/a n/a
2-year Trends
Source: Virginia REALTORS®, data accessed October 15, 2020 7
SalesSingle-Family Townhomes &
Month Detached YoY Chg Condos YoY Chg
Oct-19 245 0.0% 58 81.3%
Nov-19 216 7.5% 42 -2.3%
Dec-19 259 31.5% 57 96.6%
Jan-20 160 1.3% 33 17.9%
Feb-20 179 7.8% 38 8.6%
Mar-20 286 30.0% 69 19.0%
Apr-20 252 -3.4% 53 0.0%
May-20 273 -16.3% 42 -27.6%
Jun-20 376 -3.6% 76 49.0%
Jul-20 408 24.4% 82 43.9%
Aug-20 353 3.2% 74 -10.8%
Sep-20 330 23.6% 83 36.1%
5.6% 1.9% 23.6% 6.6% -22.1% 6.5% 12-month Avg 278 7.6% 59 20.2%
-13.3% 56.4% 36.1% 30.1% 72.2% 13.6%
September YTD
Historical Sales by Month
262 267330
39 61
83
0
50
100
150
200
250
300
350
400
450
Sep-18 Sep-19 Sep-20
3,1552458 2617
281
484550
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
Sep-18 Sep-19 Sep-20
Single-Family DetachedTownhome & Condo
0
100
200
300
400
Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20
Single-Family Detached Townhome & Condo
YoY
Chg
Source: Virginia REALTORS®, data accessed October 15, 2020 8
Pending SalesSingle-Family Townhomes &
Month Detached YoY Chg Condos YoY Chg
Oct-19 232 15.4% 42 100.0%
Nov-19 208 19.5% 45 25.0%
Dec-19 160 1.9% 34 25.9%
Jan-20 224 15.5% 35 -32.7%
Feb-20 242 21.0% 36 -7.7%
Mar-20 267 -13.6% 37 -43.9%
Apr-20 195 -36.1% 39 -36.1%
May-20 314 -19.1% 35 -47.0%
Jun-20 329 8.9% 61 17.3%
Jul-20 306 -8.7% 44 -39.7%
Aug-20 330 23.6% 67 6.3%
Sep-20 284 16.9% 69 35.3%
-3.3% 3.8% 16.9% 3.7% -23.0% -2.0% 12-month Avg 258 0.5% 45 -10.4%
-15.4% 54.5% 35.3% 20.9% 88.1% -19.1%
September YTD
Historical Pending Sales by Month
234 243284
3351
69
0
50
100
150
200
250
300
350
400
Sep-18 Sep-19 Sep-20
3,302
2,543 2,491
278
523 423
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
Sep-18 Sep-19 Sep-20
Single-Family DetachedTownhome & Condo
0
100
200
300
400
Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20
Single-Family Detached Townhome & Condo
YoY
Chg
Source: Virginia REALTORS®, data accessed October 15, 2020 9
New ListingsSingle-Family Townhomes &
Month Detached YoY Chg Condos YoY Chg
Oct-19 306 -12.1% 80 48.1%
Nov-19 266 2.7% 64 8.5%
Dec-19 175 -6.4% 42 50.0%
Jan-20 376 13.9% 55 -36.8%
Feb-20 378 10.9% 81 28.6%
Mar-20 422 -6.0% 68 0.0%
Apr-20 329 -35.2% 64 -17.9%
May-20 372 -30.3% 63 -35.7%
Jun-20 377 -6.2% 75 -3.8%
Jul-20 390 -3.9% 70 -13.6%
Aug-20 377 -3.6% 91 33.8%
Sep-20 380 13.8% 80 77.8%
-5.3% 9.2% 13.8% 0.0% -28.8% -8.0% 12-month Avg 346 -7.6% 69 3.2%
0.0% -13.5% 77.8% 34.8% 72.1% -2.9%
September YTD
Historical New Listings by Month
306 334380
5245
80
0
50
100
150
200
250
300
350
400
450
500
Sep-18 Sep-19 Sep-20
5,187
3,695 3,401
387
666647
0
1,000
2,000
3,000
4,000
5,000
6,000
Sep-18 Sep-19 Sep-20
Single-Family DetachedTownhome & Condo
0
100
200
300
400
500
600
Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20
Single-Family Detached Townhome & Condo
YoY
Chg
Source: Virginia REALTORS®, data accessed October 15, 2020 10
Average List PriceSingle-Family Townhomes &
Month Detached YoY Chg Condos YoY Chg
Oct-19 $340,080 1.0% $255,669 7.5%
Nov-19 $356,294 5.2% $250,170 11.3%
Dec-19 $353,566 4.1% $239,504 10.5%
Jan-20 $354,151 14.8% $258,600 17.2%
Feb-20 $337,850 -8.5% $254,635 19.3%
Mar-20 $340,160 0.5% $231,495 3.3%
Apr-20 $363,001 7.3% $244,336 4.8%
May-20 $358,739 3.4% $241,251 5.4%
Jun-20 $380,809 5.8% $244,919 1.6%
Jul-20 $363,176 1.8% $220,579 -7.8%
Aug-20 $391,671 10.4% $240,520 4.7%
Sep-20 $368,604 7.5% $243,356 7.1%
-0.1% 7.1% 7.5% -0.7% 1.9% 4.7% 12-month Avg $359,008 4.3% $243,753 6.9%
2.8% -1.5% 7.1% 4.4% -0.9% 4.3%
September YTD
Historical Average List Price by Month
$320
,234
$342
,952
$368
,604
$230
,548
$227
,121
$243
,356
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
Sep-18 Sep-19 Sep-20
$341
,797
$348
,343
$364
,872
$231
,603
$229
,610
$239
,420
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
Sep-18 Sep-19 Sep-20
Single-Family DetachedTownhome & Condo
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20
Single-Family Detached Townhome & Condo
YoY
Chg
Source: Virginia REALTORS®, data accessed October 15, 2020 11
Average Sales PriceSingle-Family Townhomes &
Month Detached YoY Chg Condos YoY Chg
Oct-19 $333,894 0.7% $252,509 6.4%
Nov-19 $347,809 4.5% $246,335 10.6%
Dec-19 $349,671 5.0% $237,447 11.2%
Jan-20 $347,102 15.2% $254,658 18.1%
Feb-20 $347,102 -3.9% $253,635 20.1%
Mar-20 $338,064 1.4% $229,309 2.8%
Apr-20 $359,705 8.0% $241,766 6.4%
May-20 $355,014 3.9% $239,760 5.7%
Jun-20 $373,908 5.4% $240,991 1.1%
Jul-20 $359,027 2.8% $218,818 -7.4%
Aug-20 $385,805 10.9% $238,806 5.0%
Sep-20 $366,165 8.4% $241,332 8.9%
0.4% 7.0% 8.4% -0.5% 2.1% 5.3% 12-month Avg $355,272 5.1% $241,280 7.2%
2.7% -3.6% 8.9% 4.7% -1.1% 4.7%
September YTD
Historical Average Sales Price by Month
$315
,864
$337
,894
$366
,165
$229
,899
$221
,517
$241
,332
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
Sep-18 Sep-19 Sep-20
$335
,112
$342
,258
$360
,433
$228
,844
$226
,426
$237
,145
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
Sep-18 Sep-19 Sep-20
Single-Family DetachedTownhome & Condo
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20
Single-Family Detached Townhome & Condo
YoY
Chg
Source: Virginia REALTORS®, data accessed October 15, 2020 12
Median Sales PriceSingle-Family Townhomes &
Month Detached YoY Chg Condos YoY Chg
Oct-19 $299,950 -6.0% $231,958 -4.5%
Nov-19 $308,250 -0.6% $226,000 5.6%
Dec-19 $330,000 8.6% $240,000 6.7%
Jan-20 $328,950 15.4% $242,885 21.4%
Feb-20 $316,000 -3.4% $239,913 14.2%
Mar-20 $319,950 2.2% $224,700 5.8%
Apr-20 $337,000 7.0% $236,205 9.9%
May-20 $325,000 0.0% $231,950 7.6%
Jun-20 $341,750 2.2% $225,000 -9.6%
Jul-20 $338,000 2.4% $212,702 -5.4%
Aug-20 $353,000 13.0% $230,250 -1.0%
Sep-20 $340,000 6.6% $224,000 1.8%
-0.3% 6.7% 6.6% -0.2% 3.1% 5.5% 12-month Avg $328,154 3.8% $230,463 3.9%
10.7% -3.0% 1.8% 9.1% -1.3% 2.2%
September YTD
Historical Median Sales Price by Month
$299
,000
$319
,000
$340
,000
$226
,885
$220
,000
$224
,000
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
Sep-18 Sep-19 Sep-20
$310
,000
$319
,744
$337
,348
$225
,780
$222
,750
$227
,670
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
Sep-18 Sep-19 Sep-20
Single-Family DetachedTownhome & Condo
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20
Single-Family Detached Townhome & Condo
YoY
Chg
Source: Virginia REALTORS®, data accessed October 15, 2020 13
Sold Dollar Volume (in millions)
Single-Family Townhomes & Month Detached YoY Chg Condos YoY Chg
Oct-19 $81.8 0.7% $14.6 92.9%
Nov-19 $75.1 12.3% $10.3 8.0%
Dec-19 $90.6 38.1% $13.5 118.5%
Jan-20 $55.5 16.7% $8.4 39.1%
Feb-20 $59.7 -0.5% $9.6 30.4%
Mar-20 $96.7 31.9% $15.8 22.3%
Apr-20 $90.6 4.2% $12.8 6.4%
May-20 $96.9 -13.0% $10.1 -23.5%
Jun-20 $140.6 1.6% $18.3 50.6%
Jul-20 $146.5 27.9% $17.9 33.2%
Aug-20 $136.2 14.4% $17.7 -6.4%
Sep-20 $120.8 33.9% $20.0 48.2%
6.0% 9.0% 33.9% 10.3% -30.5% 12.2% 12-month Avg $99.3 12.9% $14.1 27.3%
-11.0% 50.7% 48.2% 44.3% 93.1% 19.3%
September YTD
Historical Sold Dollar Volume by Month (in millions)
$82.8 $90.2
$120.8
$9.0$13.5
$20.0
$0.0
$20.0
$40.0
$60.0
$80.0
$100.0
$120.0
$140.0
$160.0
Sep-18 Sep-19 Sep-20
$1,210.9
$841.3 $943.6
$56.7
$109.6$130.7
$0.0
$200.0
$400.0
$600.0
$800.0
$1,000.0
$1,200.0
$1,400.0
Sep-18 Sep-19 Sep-20
Single-Family DetachedTownhome & Condo
$0.0
$20.0
$40.0
$60.0
$80.0
$100.0
$120.0
$140.0
$160.0
Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20
Single-Family Detached Townhome & Condo
YoY
Chg
Source: Virginia REALTORS®, data accessed October 15, 2020 14
Average Sold to Ask Price RatioSingle-Family Townhomes &
Month Detached YoY Chg Condos YoY Chg
Oct-19 98.3% -0.4% 98.6% -0.9%
Nov-19 98.1% -0.4% 98.1% -0.8%
Dec-19 98.9% 0.6% 99.1% 1.1%
Jan-20 98.2% 0.7% 98.4% 0.6%
Feb-20 98.9% 0.9% 99.7% 0.9%
Mar-20 99.4% 1.0% 98.9% -0.4%
Apr-20 99.3% 1.0% 98.8% 1.1%
May-20 99.2% 0.5% 99.3% 0.3%
Jun-20 98.8% 0.2% 98.3% -0.7%
Jul-20 99.2% 0.9% 99.1% 0.5%
Aug-20 98.9% 0.6% 99.3% 0.5%
Sep-20 99.7% 1.0% 99.2% 2.0%
0.8% -0.5% 1.0% 0.3% 0.1% 0.7% 12-month Avg 98.9% 0.5% 98.9% 0.3%
0.4% -2.4% 2.0% 0.4% -0.1% 0.5%
September YTD
Historical Average Sold to Ask Price Ratio by Month
99.1%
98.7%
99.7%99.6%
97.2%
99.2%
95.5%
96.0%
96.5%
97.0%
97.5%
98.0%
98.5%
99.0%
99.5%
100.0%
Sep-18 Sep-19 Sep-20
98.3% 98.4%
99.1%
98.7% 98.5%
99.0%
96.0%
96.5%
97.0%
97.5%
98.0%
98.5%
99.0%
99.5%
100.0%
Sep-18 Sep-19 Sep-20
Single-Family Detached
Townhome & Condo
95.0%
96.0%
97.0%
98.0%
99.0%
100.0%
101.0%
Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20
Single-Family Detached Townhome & Condo
YoY
Chg
Source: Virginia REALTORS®, data accessed October 15, 2020 15
Average Days on MarketSingle-Family Townhomes &
Month Detached YoY Chg Condos YoY Chg
Oct-19 61 20.2% 55 0.2%
Nov-19 64 3.0% 46 -26.4%
Dec-19 59 -10.3% 53 -26.6%
Jan-20 68 -17.0% 60 -24.2%
Feb-20 68 -8.4% 66 34.4%
Mar-20 52 -25.5% 51 -28.0%
Apr-20 57 -11.9% 42 -41.2%
May-20 50 -16.1% 55 -1.0%
Jun-20 53 2.7% 58 34.2%
Jul-20 49 -1.6% 45 -16.9%
Aug-20 41 -30.4% 50 17.9%
Sep-20 42 -20.7% 44 -29.9%
-13.1% -0.1% -20.7% -14.7% -1.5% -14.6% 12-month Avg 55 -10.6% 52 -13.0%
-23.8% 59.8% -29.9% -18.4% -0.1% -11.6%
September YTD
Historical Average Days on Market
53 53
4240
63
44
0
10
20
30
40
50
60
70
80
90
Sep-18 Sep-19 Sep-20
61 60
5157 57
51
0
10
20
30
40
50
60
70
80
90
Sep-18 Sep-19 Sep-20
Single-Family DetachedTownhome & Condo
0
30
60
90
120
150
Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20
Single-Family Detached Townhome & Condo
YoY
Chg
Source: Virginia REALTORS®, data accessed October 15, 2020 16
Median Days on MarketSingle-Family Townhomes &
Month Detached YoY Chg Condos YoY Chg
Oct-19 32 14.3% 30 46.3%
Nov-19 37 -7.5% 17 -60.5%
Dec-19 35 -30.0% 32 -5.9%
Jan-20 44 -21.6% 31 -54.1%
Feb-20 43 -12.2% 33 -5.7%
Mar-20 18 -50.0% 26 -33.3%
Apr-20 16 -51.5% 24 -46.7%
May-20 20 -31.0% 39 10.0%
Jun-20 27 12.5% 37 60.9%
Jul-20 24 -16.1% 29 -9.4%
Aug-20 14 -60.0% 31 63.2%
Sep-20 14 -54.8% 21 -38.2%
0.0% -6.1% -54.8% -13.5% 0.0% -34.4% 12-month Avg 27 -26.3% 29 -18.1%
-30.0% 142.9% -38.2% -33.3% 25.0% -22.9%
September YTD
Historical Median Days on Market
33 31
1414
34
21
0
10
20
30
40
50
60
Sep-18 Sep-19 Sep-20
32 32
21
28
35
27
0
10
20
30
40
50
60
Sep-18 Sep-19 Sep-20
Single-Family DetachedTownhome & Condo
0
30
60
90
120
150
Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20
Single-Family Detached Townhome & Condo
YoY
Chg
Source: Virginia REALTORS®, data accessed October 15, 2020 17
Active ListingsSingle-Family Townhomes &
Month Detached YoY Chg Condos YoY Chg
Oct-19 1,044 -7.2% 177 -17.7%
Nov-19 989 -8.5% 182 -10.3%
Dec-19 873 -8.7% 172 -5.0%
Jan-20 922 -5.1% 175 -9.8%
Feb-20 983 -5.2% 212 9.8%
Mar-20 1,031 -2.8% 218 16.6%
Apr-20 1,062 -7.2% 213 11.5%
May-20 965 -19.3% 210 4.0%
Jun-20 858 -26.4% 197 -8.8%
Jul-20 827 -25.2% 201 -1.5%
Aug-20 762 -30.9% 208 12.4%
Sep-20 750 -30.4% 197 32.2%
-12.3% -6.5% -30.4% 12-month Avg 922 -15.0% 197 1.8%
2.5% -27.3% 32.2%
September
Historical Active Listings by Month
1,152 1,077
750
205149
197
0
200
400
600
800
1,000
1,200
1,400
1,600
Sep-18 Sep-19 Sep-20
Townhome & CondoSingle-Family Detached
0
500
1,000
1,500
2,000
2,500
Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20
Single-Family Detached Townhome & Condo
YoY
Chg
Source: Virginia REALTORS®, data accessed October 15, 2020 18
Months of SupplySingle-Family Townhomes &
Month Detached YoY Chg Condos YoY Chg
Oct-19 4.0 -5.5% 3.5 -35.2%
Nov-19 3.8 -7.5% 3.6 -27.7%
Dec-19 3.3 -10.8% 3.2 -28.0%
Jan-20 3.5 -7.8% 3.3 -31.9%
Feb-20 3.7 -8.2% 3.9 -17.9%
Mar-20 3.8 -8.3% 4.0 -10.3%
Apr-20 3.9 -12.8% 3.9 -14.1%
May-20 3.6 -23.3% 3.9 -15.2%
Jun-20 3.2 -29.1% 3.5 -28.4%
Jul-20 3.0 -29.2% 3.5 -24.5%
Aug-20 2.8 -34.8% 3.6 -7.4%
Sep-20 2.8 -32.8% 2.8 -7.9%
-19.8% -4.3% -32.8% 12-month Avg 3.5 -17.8% 3.5 -21.6%
-0.2% -38.7% -7.9%
September
Historical Months of Supply by Month
4.4 4.2
2.8
5.0
3.02.8
0.0
1.0
2.0
3.0
4.0
5.0
6.0
Sep-18 Sep-19 Sep-20
Single-Family Detached
Townhome & Condo
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
Sep-14 Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20
Single-Family Detached Townhome & Condo
YoY
Chg
Source: Virginia REALTORS®, data accessed October 15, 2020 19
Area Overview - Total Market
Geography Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg
James City County 166 216 30.1% 140 219 56.4% $325,489 $353,066 8.5% $313,500 $324,900 3.6% 606 459 -24.3% 4.1 2.8 -32.0%
Williamsburg 23 18 -21.7% 26 14 -46.2% $271,445 $327,746 20.7% $248,000 $347,950 40.3% 75 61 -18.7% 4.1 2.9 -29.3%
York County 116 123 6.0% 112 130 16.1% $315,123 $320,075 1.6% $304,703 $305,695 0.3% 332 294 -11.4% 3.4 2.8 -18.2%
New Kent County 68 98 44.1% 43 47 9.3% $306,361 $356,731 16.4% $308,000 $327,500 6.3% 192 120 -37.5% 4.8 2.8 -41.7%
Charles City County 6 5 -16.7% 7 3 -57.1% $376,714 $193,000 -48.8% $259,000 $186,500 -28.0% 21 13 -38.1% 6.6 3.9 -41.2%
Months SupplyActive ListingsAverage Sales PriceSalesNew Listings Median Sales Price
Source: Virginia REALTORS®, data accessed October 15, 2020 20
Area Overview - Total Market YTD
Geography Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg
James City County 2,038 1,973 -3.2% 1,417 1,550 9.4% $335,677 $355,405 5.9% $309,000 $325,000 5.2% 606 459 -24.3%
Williamsburg 251 245 -2.4% 172 200 16.3% $299,282 $282,919 -5.5% $237,750 $255,000 7.3% 75 61 -18.7%
York County 1,376 1,140 -17.2% 957 995 4.0% $322,418 $333,243 3.4% $307,425 $316,130 2.8% 332 294 -11.4%
New Kent County 645 639 -0.9% 366 390 6.6% $293,437 $322,058 9.8% $280,000 $314,921 12.5% 192 120 -37.5%
Charles City County 53 39 -26.4% 30 32 6.7% $259,225 $263,692 1.7% $203,950 $222,500 9.1% 21 13 -38.1%
New Listings YTD Sales YTD Average Sales Price TYD Active Listings YTDMedian Sales Price TYD
Source: Virginia REALTORS®, data accessed October 15, 2020 21
Area Overview - Single Family Detached Market
Geography Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg
James City County 144 179 24.3% 117 172 47.0% $344,030 $381,457 10.9% $319,500 $343,750 7.6% 539 369 -31.5% 4.3 2.8 -35.8%
Williamsburg 17 13 -23.5% 14 9 -35.7% $327,038 $398,089 21.7% $267,500 $359,900 34.5% 55 36 -34.5% 4.3 2.9 -33.1%
York County 100 93 -7.0% 87 99 13.8% $342,496 $346,421 1.1% $334,500 $342,415 2.4% 275 220 -20.0% 3.5 2.8 -20.2%
New Kent County 67 90 34.3% 42 47 11.9% $308,418 $356,731 15.7% $308,000 $327,500 6.3% 187 112 -40.1% 4.8 2.8 -41.3%
Charles City County 6 5 -16.7% 7 3 -57.1% $376,714 $193,000 -48.8% $259,000 $186,500 -28.0% 21 13 -38.1% 6.6 3.9 -41.2%
New Listings Sales Average Sales Price Active Listings Months SupplyMedian Sales Price
Source: Virginia REALTORS®, data accessed October 15, 2020 22
Area Overview - Single Family Detached Market YTD
Geography Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg
James City County 1,736 1,646 -5.2% 1,189 1,262 6.1% $355,242 $380,018 7.0% $325,000 $346,500 6.6% 539 369 -31.5%
Williamsburg 168 164 -2.4% 113 134 18.6% $342,244 $309,500 -9.6% $275,000 $290,000 5.5% 55 36 -34.5%
York County 1,106 932 -15.7% 768 805 4.8% $347,214 $359,153 3.4% $333,625 $344,000 3.1% 275 220 -20.0%
New Kent County 632 620 -1.9% 358 384 7.3% $295,463 $324,042 9.7% $282,193 $315,000 11.6% 187 112 -40.1%
Charles City County 53 39 -26.4% 30 32 6.7% $259,225 $263,692 1.7% $203,950 $222,500 9.1% 21 13 -38.1%
New Listings YTD Sales YTD Average Sales Price YTD Active Listings YTDMedian Sales Price YTD
Source: Virginia REALTORS®, data accessed October 15, 2020 23
Area Overview - Townhome & Condo Market
Geography Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg
James City County 22 37 68.2% 23 47 104.3% $231,170 $249,167 7.8% $230,000 $215,000 -6.5% 67 90 34.3% 2.8 2.8 -1.1%
Williamsburg 6 5 -16.7% 12 5 -58.3% $206,586 $201,130 -2.6% $198,250 $175,000 -11.7% 20 25 25.0% 3.6 2.9 -18.9%
York County 16 30 87.5% 25 31 24.0% $219,864 $235,937 7.3% $204,500 $236,000 15.4% 57 74 29.8% 3.0 2.8 -8.8%
New Kent County 1 8 700.0% 1 0 -100.0% $220,000 $0 -100.0% $220,000 $0 -100.0% 5 8 60.0% 6.0 2.8 -53.1%
Charles City County 0 0 n/a 0 0 n/a $0 $0 n/a $0 $0 n/a 0 0 n/a 0.0 3.9 n/a
New Listings Sales Average Sales Price Active Listings Months SupplyMedian Sales Price
Source: Virginia REALTORS®, data accessed October 15, 2020 24
Area Overview - Townhome & Condo Market YTD
Geography Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg Sep-19 Sep-20 % chg
James City County 300 331 10.3% 228 288 26.3% $233,645 $248,439 6.3% $230,000 $235,500 2.4% 67 90 34.3%
Williamsburg 83 81 -2.4% 59 66 11.9% $216,997 $229,755 5.9% $219,900 $215,750 -1.9% 20 25 25.0%
York County 270 216 -20.0% 189 190 0.5% $221,661 $223,770 1.0% $211,000 $222,000 5.2% 57 74 29.8%
New Kent County 13 19 46.2% 8 6 -25.0% $202,800 $195,750 -3.5% $217,000 $207,500 -4.4% 5 8 60.0%
Charles City County 0 0 n/a 0 0 n/a $0 $0 n/a $0 $0 n/a 0 0 n/a
New Listings YTD Sales YTD Average Sales Price YTD Active Listings YTDMedian Sales Price YTD
Source: Virginia REALTORS®, data accessed October 15, 2020 25