Is Gloucester, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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
| # BEDS | May 2021 | May 2022 | % |
|---|---|---|---|
| 1 Bedroom | $258K | $258K | 0.0% |
| 2 Bedrooms | $369K | $491K | +33.1% |
| 3 Bedrooms | $555K | $625K | +12.6% |
| 4 Bedrooms | $677.5K | $750K | +10.7% |
| 5+ Bedrooms | $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 2022 | May 2022 | % |
|---|---|---|
| 87 | 111 | +27.6% |
Homes For Sale By Bedroom Count
| # BEDS | Apr 2022 | May 2022 | % |
|---|---|---|---|
| 1 Bedroom | 9 | 9 | 0.0% |
| 2 Bedrooms | 23 | 29 | +26.1% |
| 3 Bedrooms | 31 | 44 | +41.9% |
| 4 Bedrooms | 13 | 13 | 0.0% |
| 5+ Bedrooms | 11 | 16 | +45.5% |
Number of Homes Sold
| Apr 2022 | May 2022 | % |
|---|---|---|
| 19 | 27 | +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
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 2021 | May 2022 | % |
|---|---|---|
| 31 Days | 25 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
Key Takeaway
Many homes in Gloucester are selling fast, if you're buying plan to act quickly.
