Is James City County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing James City County is a seller's market

Buyer's
Market

Difference Since May 2023

At the same time last year, James City County was a Buyer's Market.

Key Takeaway

James City County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in James City County, VA

How much do homes in James City County, VA cost?

Median Sold Price

$470,000

$206/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$12,166(+2.7%)

Key Takeaway

Homes in James City County have sold for 2.7% more than they did a year ago.

Summary: The median home sold price in James City County was $470,000 in May 2024, up 2.7% from last year, and the median price per square foot was $206.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $188K$235K
+25.0%
2 $279.8K$280K
0.1%
3 $375.3K$400K
+6.6%
4 $549.5K$599K
+9.0%
5+ $721K$747.1K
+3.6%

Summary: James City County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 0.1%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 3.6%.

Median Sold Price Compared To Nearby Counties

Charles City County
+14.3%
Gloucester County
+9.3%
James City County
+2.7%
York County
+1.1%
New Kent County
+0.8%

Housing Supply in James City County, VA

How many homes are available in James City County, VA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
624715+14.6%

Summary: The James City County real estate market had 715 homes for sale in May 2024, a 14.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 69
+50.0%
2 5761
+7.0%
3 261311
+19.2%
4 221240
+8.6%
5+ 7994
+19.0%

Summary: The James City County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 7%, 3 bedroom homes increased by 19.2%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 19%.

Number of Homes Sold

Apr 2024May 2024CHANGE
180193+7.2%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

14 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in James City County, you may be able to get a good deal. 44.6% of homes here sold below asking price last month.

Summary: A total of 193 homes were sold or pending in James City County in May 2024, up by 7.2% month-over-month. Of the 56 sold homes, 45% were sold under asking, 25% were sold at asking, and 30% were sold over asking.

Days on Market for James City County, VA

How long does it take to sell a home in James City County, VA?

Average Sale Time

May 2023May 2024CHANGE
15 Days28 Days+78.3%

Summary: Homes in James City County had an average of 28 days on market in May 2024, up by 78.3% compared to last year.

Breakdown of Home Sale Times

139 Homes Were Sold
Under 30 Days

36 Homes Were Sold
In 30 - 90 Days

18 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in James City County are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 193 homes were sold in James City County; 72% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in James City County, VA

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