Is Gloucester, MA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gloucester is a seller's market

Buyer's
Market

Difference Since May 2021

Since last year, Gloucester has remained a Seller's Market.

Key Takeaway

Gloucester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Gloucester, MA cost?

Median Sold Price

$582,000

$382/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$79,000(+15.7%)

Key Takeaway

Homes in Gloucester have sold for 15.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 $258K$258K
0.0%
2 $369K$491K
+33.1%
3 $555K$625K
+12.6%
4 $677.5K$750K
+10.7%
5+ $866.5K$783.1K
-9.6%

Median Sold Price Compared To Nearby Cities

Essex
+25.5%
Gloucester
+15.7%
Rockport
+8.5%
Manchester-by-the-Sea
+1.1%
Manchester
+1.1%

How many homes are available in Gloucester, MA?

Number of Homes For Sale

Apr 2022May 2022%
87111+27.6%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 99
0.0%
2 2329
+26.1%
3 3144
+41.9%
4 1313
0.0%
5+ 1116
+45.5%

Number of Homes Sold

Apr 2022May 2022%
1927+42.1%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gloucester, you could pay more than the asking price. 63% of homes here sold above asking price last month.

Average Sale Time

May 2021May 2022%
31 Days25 Days-18.6%

Breakdown of Home Sale Times

23 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Gloucester are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Gloucester, MA

There are 111 homes are for sale in Gloucester, MA real estate market. The inventory of homes for sale in Gloucester, MA between April 2022 and May 2022 increased by 27.6%. While the average time on the market in May 2022 was 25 days, the median list price was $582,000. Listing prices have changed in this real estate market between April 2022 and May 2022: prices of 1 bedroom properties remained the same, prices of 2 bedrooms properties went up by 33.1%, 3 bedrooms properties prices increased by 12.6%, the cost of 4 bedrooms properties went up by 10.7%, the cost of 5 bedrooms properties went down by 9.6%. The following changes in the number of homes for sale were observed in this housing market: number of 1 bedroom homes remained the same, number of 2 bedrooms homes increased by 26.1%, 3 bedrooms homes inventory increased by 41.9%, volume of 4 bedrooms homes stayed the same, number of 5 bedrooms homes increased by 45.5%. In May 2022 more than 17 listings in Gloucester, MA were sold above the asking price. During the same period more than 5 listings were sold at asking price, while more than 5 were sold below.

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