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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gloucester Point is a seller's market

Buyer's
Market

Difference Since August 2023

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

Key Takeaway

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

Housing Prices in Gloucester Point, VA

How much do homes in Gloucester Point, VA cost?

Median Sold Price

$325,000

$199/sqft

Based on all homes sold in the last 12 months.

Difference Since August 2023

+$17,750(+5.8%)

Key Takeaway

Homes in Gloucester Point have sold for 5.8% more than they did a year ago.

Summary: The median home sold price in Gloucester Point was $325,000 in August 2024, up 5.8% from last year, and the median price per square foot was $199.

Median Sold Price By Bedroom Count

# BEDSAug 2023Aug 2024CHANGE
1 --
N/A
2 $221K$265K
+19.9%
3 $308.5K$334.9K
+8.6%
4 $360K$545K
+51.4%
5+ --
N/A

Summary: Gloucester Point housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.9%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 51.4%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

York
+11.0%
Hayes
+8.3%
Gloucester Point
+5.8%

Housing Supply in Gloucester Point, VA

How many homes are available in Gloucester Point, VA?

Number of Homes For Sale

Jul 2024Aug 2024CHANGE
39390.0%

Summary: The Gloucester Point real estate market had 39 homes for sale in August 2024, the same as July 2024.

Homes For Sale By Bedroom Count

# BEDSJul 2024Aug 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 1825
+38.9%
4 1712
-29.4%
5+ 10
-100.0%

Summary: The Gloucester Point housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 38.9%, 4 bedroom homes decreased by 29.4%, and 5+ bedroom homes decreased by 100%.

Number of Homes Sold

Jul 2024Aug 2024CHANGE
1012+20.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gloucester Point, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Gloucester Point in August 2024, up by 20.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.

Days on Market for Gloucester Point, VA

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

Average Sale Time

Aug 2023Aug 2024CHANGE
7 Days47 Days+517.4%

Summary: Homes in Gloucester Point had an average of 47 days on market in Aug 2024, up by 517.4% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

4 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 Point are selling fast, if you're buying plan to act quickly.

Summary: During August 2024, 12 homes were sold in Gloucester Point; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% 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 12 Days Ago

Newest Listings in Gloucester Point, VA

Nearby Markets to Gloucester Point, VA

What housing markets are near Gloucester Point, VA?