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 May 2022

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.

How much do homes in Gloucester County, VA cost?

Median Sold Price

$310,000

$187/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2022

+$12,500(+4.2%)

Key Takeaway

Homes in Gloucester County have sold for 4.2% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2022May 2023%
1 $158.8K$405.4K
+155.3%
2 $208.7K$255K
+22.2%
3 $285.6K$300K
+5.0%
4 $370K$414.9K
+12.1%
5+ $449.9K$402.5K
-10.5%

Median Sold Price Compared To Nearby Counties

Mathews County
+15.5%
Middlesex County
+5.0%
Gloucester County
+4.2%
King and Queen County
-11.1%

How many homes are available in Gloucester County, VA?

Number of Homes For Sale

Apr 2023May 2023%
251259+3.2%

Homes For Sale By Bedroom Count

# BEDSApr 2023May 2023%
1 03
+100.0%
2 2418
-25.0%
3 151156
+3.3%
4 5561
+10.9%
5+ 2121
0.0%

Number of Homes Sold

Apr 2023May 2023%
7471-4.1%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

16 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gloucester County, you could pay more than the asking price. 51.6% of homes here sold above asking price last month.

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

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

Average Sale Time

May 2022May 2023%
8 Days24 Days+202.9%

Breakdown of Home Sale Times

56 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

3 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.

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

What housing markets are near Gloucester County, VA?

About Gloucester County, VA

There are 259 homes are for sale in Gloucester County, VA real estate market. The inventory of homes for sale in Gloucester County, VA between April 2023 and May 2023 increased by 3.2%. In May 2023, listings were on the market for 24 days. During the same period, the median list price in this real estate market was $310,000. This housing market listing prices have changed between April 2023 and May 2023: 1 bedroom properties prices increased by 155.3%, the cost of 2 bedrooms properties went up by 22.2%, 3 bedrooms properties became 5% more expensive, prices of 4 bedrooms properties went up by 12.1%, prices of 5 bedrooms properties decreased by 10.5%. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes inventory increased by 100%, 2 bedrooms homes became 25% less available, 3 bedrooms homes became 3.3% more available, volume of 4 bedrooms homes went up by 10.9%, number of 5 bedrooms homes remained the same. In May 2023 more than 16 listings in Gloucester County, VA were sold above the asking price. During the same period more than 8 listings were sold at asking price, while more than 7 were sold below.