Yorktown, VA Real Estate & Homes for Sale | 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.

What is the housing market like right now? In May 2024, home prices in Virginia were up 5.2% compared to last year, selling for a median price. On average, the number of homes sold was up 0.5% year over year and there were 11,089 homes sold in May this year, up 11,021 homes sold in May last year.

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.

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.

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.

No VA minimum requirement. Most lenders require a 580 credit score or higher.