Is Gloucester, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer'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
$334,000
$195/sqft
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
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $203.7K | $167.5K | -17.8% |
| 2 Bedrooms | $270K | $249.5K | -7.6% |
| 3 Bedrooms | $298.5K | $324.9K | +8.8% |
| 4 Bedrooms | $415K | $462.5K | +11.4% |
| 5+ Bedrooms | $435K | $425K | -2.3% |
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%.
Housing Supply in Gloucester, VA
How many homes are available in Gloucester, VA?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 160 | 161 | +0.6% |
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
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 9 | +80.0% |
| 2 Bedrooms | 18 | 18 | 0.0% |
| 3 Bedrooms | 110 | 105 | -4.5% |
| 4 Bedrooms | 14 | 17 | +21.4% |
| 5+ Bedrooms | 13 | 12 | -7.7% |
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 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 40 | 27 | -32.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
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 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 16 Days | 36 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
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.
Copyright © 2023 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. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2023 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved