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

Housing Market Conditions



Gauge showing Gloucester is a seller's market


Difference Since November 2022

At the same time last year, Gloucester was a Buyer's 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



Based on all homes sold in the last 12 months.

Difference Since November 2022


Key Takeaway

Homes in Gloucester have sold for 7.3% more than they did a year ago.

Summary: The median home sold price in Gloucester was $334,000 in November 2023, up 7.3% from last year, and the median price per square foot was $195.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 $203.7K$167.5K
2 $270K$249.5K
3 $298.5K$324.9K
4 $415K$462.5K
5+ $435K$425K

Summary: Gloucester housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 17.8%, 2 bedroom homes decreased by 7.6%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes decreased by 2.3%.

Median Sold Price Compared To Nearby Cities


Housing Supply in Gloucester, VA

How many homes are available in Gloucester, VA?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE

Summary: The Gloucester real estate market had 161 homes for sale in November 2023, a 0.6% increase compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 59
2 1818
3 110105
4 1417
5+ 1312

Summary: The Gloucester housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 80%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 4.5%, 4 bedroom homes increased by 21.4%, and 5+ bedroom homes decreased by 7.7%.

Number of Homes Sold

Oct 2023Nov 2023CHANGE

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

5 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. 41.7% of homes here sold above asking price last month.

Summary: A total of 27 homes were sold or pending in Gloucester in November 2023, down by 32.5% month-over-month. Of the 12 sold homes, 25% were sold under asking, 33% were sold at asking, and 42% 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

Nov 2022Nov 2023CHANGE
16 Days36 Days+119.9%

Summary: Homes in Gloucester had an average of 36 days on market in Nov 2023, up by 119.9% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

2 Homes Were 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.

Summary: During November 2023, 27 homes were sold in Gloucester; 52% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.

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

Report Updated 2 Days Ago

Newest Listings in Gloucester, VA

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