Good question. This is a very simple question that would require a full length conversation. Why are you looking in Williamsburg? Are you relocating to the area? How long do you expect to live here? Do you plan to work in the area or commute to larger metropolitan areas like Virginia Beach, Norfolk, or Richmond? What is your motive for the question?
Historically our area has been somewhat sheltered by drastic movements up and down in prices. We have experienced a pull back in pricing just as the national trends have, but as the National Association of Realtors are saying, "Now is the best time to buy".
Our area is a great place to live because of the historical nature of Williamsburg and the surrounding communities. The College of William & Mary offers a great venue for social and sporting events. Strolling down Duke of Gloucester Street during a warm Spring day or seeing the natural decorations during the Christmas season offers a great way to enjoy our communities.
I moved here from California 6 years ago. While I do miss the vibrancy of living in a large city, when I need my fix for larger city life, Richmond is an hour's drive or Washington, D.C. is about 2.5 hours away. I love the idea of spending my family time in this wonderful community.