Williamsburg Real Estate Market: September 2024 Stats and Trends

Williamsburg Real Estate Market: September 2024 Stats and Trends

Real estate has become a popular avenue for people looking to diversify their income streams and potentially hedge against inflation. Whether you’re a seasoned pro or just getting started in investing, Williamsburg, VA, is certainly worth considering.

Located between the James and York rivers, the city of Williamsburg is a charming suburb just north of Newport News in eastern Virginia. The city was once the Virginia Colony’s capital, and those historic roots can still be felt today, primarily through its many stately historic homes and well preserved downtown district.

Affectionately called “The Burg,” the city of Williamsburg has been deemed the premiere center for preservation and interpretation of American colonial history. Not a history buff? Don’t worry, this metro has plenty more to offer. An abundance of shops, dining, and local breweries are at the disposal of all locals. And if looking for a buzzier scene, the city of Newport News is just a short commute away.

Williamsburg Real Estate Market: September 2024 Stats and Trends

But what about the Williamsburg real estate market in September 2024? What do stats and trends look like, especially right now? Facts and figures are constantly changing, so we’ve gathered all the most up-to-date information for you.

Here are some of the top trends for the Williamsburg real estate market (September 2024):

Williamsburg General Statistics

  • Population (city proper): 15,972 

  • Population (metro area): 1,808,102 

  • Area (city proper): 8.9 sq. mi. 

  • Area (metro area): 3,530.4 sq. mi. 

  • Median Age: 24.6 

  • GDP: $6.57 Billion 

  • Unemployment rate (state wide): 2.7% (down .1% since April 2024)

  • Top employers: Jamestown-Yorktown Foundation, National Center for State Courts, Colonial Williamsburg Company, Newport Hospitality Group, Colonial Williamsburg Foundation, Snow Companies, Guidestar, Williamsburg Landing, Merrimac Center, MHI Hospitality Corp.  

  • Highest paying jobs: Cyber Security, Project Management, Attorney, Nurse, Truck Driver and Operator, Retail Management, Accounting, EMT, Data Entry. 

  • Median income (per capita): $35,264

  • Median income (household): $66,815

Williamsburg Real Estate Market (September 2024) Statistics

  • Neighborhoods: 22

  • Homes for sale as of September 2024: 405 

  • Median list price: $499k (up .1% since February 2024)

  • Median sold price: $499K (up .4% since February 2024)

  • Sale-to-list price ratio: 100%

  • Median price per square foot: $220 

  • Median days on market: 34 (down 4% since February 2024)

  • Rental vacancy rate: 5.6%

  • Homeowner vacancy rate: 1.7%

  • One-year appreciation rate: +5.5%

  • Average rent: $1,693 

  • Price-to-rent ratio: N/A

  • Most expensive neighborhoods:  

Neighborhood 

Average Monthly Rent 

Median Listing Price

South England Point / Kingsmill

NA

$1,035,232

Powhatan Village / Monticellio 

$3,261

$862,882

First Colony

$3,916

$841,964

Windsor Forest

$3,648

$808,601

Longhill Gate / Longhill

$2,266

$699,576


  • Least expensive neighborhoods:

Neighborhood

Median Monthly Rent 

Median Listing Price

Grove

$2,104

$336,887

Skipwith Farms

$2,205

$406,052

New Town / The Mews

$2,043

$409,943

Carver Gardens

$2,226

$432,036

Old Stage Manor

$1,902

$442,306

Final Thoughts: Williamsburg Real Estate Market (September 2024) Trends

The Williamsburg real estate market is constantly changing and evolving. But the potential for investors to profit is near-constant. Whether you’re an experienced real estate investor or brand new to the industry, the Williamsburg real estate market could provide ample opportunity to build your portfolio.

Get Started Buying Homes With Evernest

Whether you’re purchasing one Williamsburg home or one hundred, you don’t have to go it alone. 

If you’re ready to buy your first (or next) investment property, here are three steps to get started today:

This content was originally published on Evernest.co.

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