Yorktown, VA Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

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

The best time to buy a house in Virginia depends on your priorities. If you want to find the lowest prices on the real estate market, January is usually the best month to buy. If you want to have the most available housing inventory, April is the best month to buy.

Yorktown is a suburb of Newport News with a population of 217. 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 primary reason housing is so expensive in Virginia and elsewhere is because we do not build enough of it. Research shows that zoning and land-use regulations artificially increase the price of housing by making it more expensive to build.

Yes, it is certainly possible to sell your Virginia house without a Realtor. Going it alone is called a for sale by owner (or FSBO) transaction. While this may save you from having to pay a listing agent's commission, it requires quite a lot of work on your part.

Winter is usually the cheapest time of year to purchase a home. Sellers are often motivated, which automatically translates into an advantage to you. Most people suspend their listings from around Thanksgiving to the New Year because they assume buyers are scarce.

Virginia Housing Market Overview

What is the housing market like right now? In May 2024, home prices in Virginia were up 4.8% compared to last year, selling for a median price.

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.

Supported by the French army and navy, Washington's forces defeated Lord Charles Cornwallis' veteran army dug in at Yorktown, Virginia. Victory at Yorktown led directly to the peace negotiations that ended the war in 1783 and gave America its independence.

Clearly, the ultimate historically significant event for Yorktown is the victory of General George Washington's Army over the British Army. Lord Cornwallis surrendered, on ground known today as Surrender Field, October 19, 1781, effectively ended the American Revolution.

The priciest city in Virginia is Arlington, where the cost of living is 37% higher compared to the state average and 37% higher than in the rest of the U.S. The cheapest major city in Virginia is Lexington, with a cost of living 12% lower below the state average and 12% lower than the national average.

Are property taxes high in Virginia? ›

Virginia has a 0.72 percent effective property tax rate on owner-occupied housing value. Virginia does not have an estate tax or inheritance tax.

Do I need an attorney for my closing? The sale or purchase of a home is a major transaction. As a result, it is in your best interests to have an attorney present during a real estate closing. Your lawyer can review your contract and provide you with invaluable advice on how to move forward.

Virginia law does not require home sellers to hire an attorney, whether a Realtor is part of the process or not. However, legal counsel is useful for all sellers and especially important for FSBO sellers. Real estate transactions are complex, and this is likely to be one of the biggest financial deals of your life.

If you sell, lease, distribute, or rent tangible personal property to customers in Virginia, or otherwise meet the definition of a “dealer,” and have “sufficient activity” in Virginia, you have nexus as defined in Va. Code § 58.1-612, and must register to collect and pay sales tax in Virginia.

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.