Is Gloucester, MA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gloucester is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Gloucester has remained a Seller'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, MA

How much do homes in Gloucester, MA cost?

Median Sold Price

$632,500

$430/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$12,500(+2.0%)

Key Takeaway

Homes in Gloucester have sold for 2% more than they did a year ago.

Summary: The median home sold price in Gloucester was $632,500 in May 2024, up 2% from last year, and the median price per square foot was $430.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $276K$270K
-2.2%
2 $472.5K$533K
+12.8%
3 $650.5K$700K
+7.6%
4 $792.5K$790K
-0.3%
5+ $712.5K$862K
+21.0%

Summary: Gloucester housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.2%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 7.6%, 4 bedroom homes decreased by 0.3%, and 5+ bedroom homes increased by 21%.

Median Sold Price Compared To Nearby Cities

Manchester
+34.4%
Rockport
+13.7%
Ipswich
+7.1%
Essex
+6.0%
Gloucester
+2.0%

Housing Supply in Gloucester, MA

How many homes are available in Gloucester, MA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
6876+11.8%

Summary: The Gloucester real estate market had 76 homes for sale in May 2024, a 11.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 22
0.0%
2 1924
+26.3%
3 2827
-3.6%
4 1012
+20.0%
5+ 911
+22.2%

Summary: The Gloucester housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 26.3%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 22.2%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1920+5.3%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

5 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, you could pay more than the asking price. 45% of homes here sold above asking price last month.

Summary: A total of 20 homes were sold or pending in Gloucester in May 2024, up by 5.3% month-over-month. Of the 20 sold homes, 30% were sold under asking, 25% were sold at asking, and 45% were sold over asking.

Days on Market for Gloucester, MA

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

Average Sale Time

May 2023May 2024CHANGE
28 Days39 Days+37.5%

Summary: Homes in Gloucester had an average of 39 days on market in May 2024, up by 37.5% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

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

Summary: During May 2024, 20 homes were sold in Gloucester; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 10% 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 1 Day Ago

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Newest Listings in Gloucester, MA

Nearby Markets to Gloucester, MA

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MLS Disclaimers and Copyright

Based on information from MLS Property Information Network Inc. for the period 06/01/2022 - 06/01/2024

IDX Disclaimer: The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. We may make use of information provided by users of this website - see our Terms of Use for more details on our privacy policy.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.

Note: Any Compensation information or listing brokers offer of compensation displayed is only applicable to other member participants of the source MLS.

Last updated on: 6/1/2024, 11:20:32 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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