Is Gloucester County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$335,875
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Gloucester County have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Gloucester County was $335,875 in April 2024, up 7.2% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210.9K | $235.7K | +11.8% |
| 2 Bedrooms | $247K | $281.2K | +13.9% |
| 3 Bedrooms | $300K | $338.5K | +12.8% |
| 4 Bedrooms | $424.7K | $409.9K | -3.5% |
| 5+ Bedrooms | $400K | $530K | +32.5% |
Summary: Gloucester County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.8%, 2 bedroom homes increased by 13.9%, 3 bedroom homes increased by 12.8%, 4 bedroom homes decreased by 3.5%, and 5+ bedroom homes increased by 32.5%.
Median Sold Price Compared To Nearby Counties
| King and Queen County | $255K | $282.4K | +10.7% |
| Gloucester County | $313.3K | $335.8K | +7.2% |
| Middlesex County | $365K | $375K | +2.7% |
| Mathews County | $393.6K | $359.9K | -8.6% |
Housing Supply in Gloucester County, VA
How many homes are available in Gloucester County, VA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 307 | 330 | +7.5% |
Summary: The Gloucester County real estate market had 330 homes for sale in April 2024, a 7.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 8 | 0.0% |
| 2 Bedrooms | 44 | 52 | +18.2% |
| 3 Bedrooms | 163 | 180 | +10.4% |
| 4 Bedrooms | 71 | 69 | -2.8% |
| 5+ Bedrooms | 21 | 21 | 0.0% |
Summary: The Gloucester County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 10.4%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 72 | 58 | -19.4% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gloucester County, you may be able to get a good deal. 35.7% of homes here sold below asking price last month.
Summary: A total of 58 homes were sold or pending in Gloucester County in April 2024, down by 19.4% month-over-month. Of the 28 sold homes, 36% were sold under asking, 29% were sold at asking, and 36% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 44 Days | 43 Days | -2.3% |
Summary: Homes in Gloucester County had an average of 43 days on market in Apr 2024, down by 2.3% compared to last year.
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gloucester County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 58 homes were sold in Gloucester County; 62% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
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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. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are ©2024 Central Virginia Regional Multiple Listing Service,LLC. All rights reserved
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