Is Gloucester, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Gloucester was a Neutral Market.
Key Takeaway
Gloucester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gloucester, VA
How much do homes in Gloucester, VA cost?
Median Sold Price
$340,000
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Gloucester have sold for 3% more than they did a year ago.
Summary: The median home sold price in Gloucester was $340,000 in April 2024, up 3% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $206.2K | $235.7K | +14.3% |
| 2 Bedrooms | $295K | $271.5K | -8.0% |
| 3 Bedrooms | $308.1K | $340K | +10.3% |
| 4 Bedrooms | $450K | $457.5K | +1.7% |
| 5+ Bedrooms | $400K | $617.5K | +54.4% |
Summary: Gloucester housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.3%, 2 bedroom homes decreased by 8%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 54.4%.
Housing Supply in Gloucester, VA
How many homes are available in Gloucester, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 193 | 207 | +7.3% |
Summary: The Gloucester real estate market had 207 homes for sale in April 2024, a 7.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 8 | 0.0% |
| 2 Bedrooms | 28 | 38 | +35.7% |
| 3 Bedrooms | 109 | 112 | +2.8% |
| 4 Bedrooms | 34 | 35 | +2.9% |
| 5+ Bedrooms | 14 | 14 | 0.0% |
Summary: The Gloucester housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 35.7%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 43 | 42 | -2.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gloucester, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 42 homes were sold or pending in Gloucester in April 2024, down by 2.3% month-over-month. Of the 20 sold homes, 30% were sold under asking, 40% were sold at asking, and 30% were sold over asking.
Days on Market for Gloucester, VA
How long does it take to sell a home in Gloucester, VA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 40 Days | 36 Days | -8.8% |
Summary: Homes in Gloucester had an average of 36 days on market in Apr 2024, down by 8.8% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gloucester are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 42 homes were sold in Gloucester; 71% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
Copyright © 2024 REIN, Inc - All Rights Reserved. Information Deemed Reliable But Not Guaranteed. 
All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved
Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.