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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gloucester County is a seller's market

Buyer's
Market

Difference Since June 2023

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

Key Takeaway

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

Housing Prices in Gloucester County, VA

How much do homes in Gloucester County, VA cost?

Median Sold Price

$342,666

$209/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$26,416(+8.4%)

Key Takeaway

Homes in Gloucester County have sold for 8.4% more than they did a year ago.

Summary: The median home sold price in Gloucester County was $342,666 in June 2024, up 8.4% from last year, and the median price per square foot was $209.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $187.9K$236.5K
+25.9%
2 $255K$292K
+14.5%
3 $300K$342K
+14.0%
4 $427.5K$430K
+0.6%
5+ $402.5K$625K
+55.3%

Summary: Gloucester County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.9%, 2 bedroom homes increased by 14.5%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes increased by 55.3%.

Median Sold Price Compared To Nearby Counties

Gloucester County
+8.4%
King and Queen County
+6.5%
Middlesex County
+1.4%
Mathews County
-11.8%

Housing Supply in Gloucester County, VA

How many homes are available in Gloucester County, VA?

Number of Homes For Sale

May 2024Jun 2024CHANGE
340313-7.9%

Summary: The Gloucester County real estate market had 313 homes for sale in June 2024, a 7.9% decrease compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 64
-33.3%
2 4744
-6.4%
3 195173
-11.3%
4 7570
-6.7%
5+ 1722
+29.4%

Summary: The Gloucester County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 6.4%, 3 bedroom homes decreased by 11.3%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 29.4%.

Number of Homes Sold

May 2024Jun 2024CHANGE
10359-42.7%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

9 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gloucester County, expect to pay close to the asking price. 42.3% of homes here sold near the asking price last month.

Summary: A total of 59 homes were sold or pending in Gloucester County in June 2024, down by 42.7% month-over-month. Of the 26 sold homes, 23% were sold under asking, 42% were sold at asking, and 35% were sold over asking.

Days on Market for Gloucester County, VA

How long does it take to sell a home in Gloucester County, VA?

Average Sale Time

Jun 2023Jun 2024CHANGE
31 Days43 Days+38.7%

Summary: Homes in Gloucester County had an average of 43 days on market in Jun 2024, up by 38.7% compared to last year.

Breakdown of Home Sale Times

39 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

11 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During June 2024, 59 homes were sold in Gloucester County; 66% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 19% 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 26 Days Ago

Newest Listings in Gloucester County, VA

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