The state highway runs concurrently with SR 10 (Colonial Trail) while passing through the town of Surry.

North of Surry, SR 31 passes Smith's Fort Plantation before reaching the Scotland terminal of the Jamestown Ferry across the James River.

[5] SR 31 resumes at the Jamestown terminal of the ferry at Glass House Point in James City County.

The state highway passes through the suburban area surrounding Williamsburg before reaching its northern terminus at SR 199 (Humelsine Parkway) just inside the city limits.

The Jamestown-Scotland Ferry began operations February 26, 1925 from the Jamestown end of SR 392 to Scotland across the James River.