Homes for Sale in Yorktown, VA with Lake View | realtor.com® (2024)

FAQs

Is the best time to buy a house in Virginia? ›

Spring is the best season for a low-on-cash home buyer wanting to buy a house in Virginia. Sellers are easier to negotiate with because there are more homes for sale and fewer buyers.

Yorktown is in York County and is one of the best places to live in Virginia. Living in Yorktown offers residents a suburban rural mix feel and most residents own their homes. Residents of Yorktown tend to be conservative. The public schools in Yorktown are highly rated.

If getting the lowest price possible is your main priority, consider searching for a home in November or December. There won't be as many houses to choose from compared to the spring and summer months, but you'll face less competition and a higher likelihood of purchasing a home below the asking price.

Virginia Housing Market Overview

In May 2024, home prices in Virginia were up 4.8% compared to last year, selling for a median price. On average, the number of homes sold was up 2.4% year over year and there were 11,300 homes sold in May this year, up 11,022 homes sold in May last year.

About. In 2022, Yorktown, VA had a population of 217 people with a median age of 59.3 and a median household income of $78,750.

Migration from Northern Virginia helped the Winchester Metro Area become Virginia's fastest growing metro area, with its population increasing at nearly five times the rate of Virginia as a whole.”

What does contingent mean on a realtor? ›

A contingent status means that the seller has accepted an offer and the home is under contract. But the sale is subject to, or conditioned upon, certain criteria being met by the buyer and/or seller before the deal can close.

Key Takeaways

Consider the accessibility, appearance, and amenities of a neighborhood as well as plans for development. A lot's proximity to things like busy roadways may make it less desirable for resale. Acreage often trumps the quality of a house because land tends to increase in value.

Mortgage rates are expected to come down in 2024, and inventory and home sales are likely to increase. Homebuyers and sellers can also expect prices to continue to rise, albeit at a slower clip than the past couple of years.

Winter is traditionally the slowest season for home sales and, as a result, it's the cheapest time to buy a home. There's usually less competition between buyers and sellers may be more willing to negotiate to make a sale since buyer interest is lower than it is in the spring.

Unequal cost of living

The state may be just 3% more than the national average for its living costs, but Northern Virginia can be very expensive, as can areas of Hampton Roads and Virginia Beach. But other parts, like Central Virginia or Southern Virginia, can stretch your budget further with reduced housing costs.

And as you might imagine, recessions are a risky time to buy a home. If you lose your job, for example, a lender will be much less likely to approve your loan application. Even if a recession doesn't affect you directly, if your area is hard-hit, that could have a serious effect on the local real estate market.