Is Gloucester, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Gloucester was a Seller's Market.
Housing Prices in Gloucester, MA
How much do homes in Gloucester, MA cost?
Median Sold Price
$620,000
$432/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Gloucester was $620,000 in February 2024, down 0.8% from last year, and the median price per square foot was $432.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $275K | $288K | +4.7% |
2 Bedrooms | $499.5K | $531.1K | +6.3% |
3 Bedrooms | $650K | $700K | +7.7% |
4 Bedrooms | $777.5K | $780K | 0.3% |
5+ Bedrooms | $735K | $730K | -0.7% |
Summary: Gloucester housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.7%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes decreased by 0.7%.
Housing Supply in Gloucester, MA
How many homes are available in Gloucester, MA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
48 | 53 | +10.4% |
Summary: The Gloucester real estate market had 53 homes for sale in February 2024, a 10.4% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 13 | 13 | 0.0% |
3 Bedrooms | 16 | 19 | +18.8% |
4 Bedrooms | 11 | 10 | -9.1% |
5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The Gloucester housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 18.8%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
15 | 8 | -46.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Gloucester in February 2024, down by 46.7% month-over-month. Of the 8 sold homes, 38% were sold under asking, 0% were sold at asking, and 63% were sold over asking.
Days on Market for Gloucester, MA
How long does it take to sell a home in Gloucester, MA?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
48 Days | 43 Days | -11.8% |
Summary: Homes in Gloucester had an average of 43 days on market in Feb 2024, down by 11.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During February 2024, 8 homes were sold in Gloucester; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.