Is Gloucester County, VA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Gloucester County has remained a Seller's Market.
Housing Prices in Gloucester County, VA
How much do homes in Gloucester County, VA cost?
Median Sold Price
$338,766
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Gloucester County was $338,766 in May 2024, up 9.3% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $405.4K | $236.5K | -41.7% |
2 Bedrooms | $255K | $288K | +12.9% |
3 Bedrooms | $300K | $338.7K | +12.9% |
4 Bedrooms | $409.9K | $440K | +7.3% |
5+ Bedrooms | $402.5K | $610K | +51.6% |
Summary: Gloucester County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 41.7%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 51.6%.
Median Sold Price Compared To Nearby Counties
King and Queen County | $252K | $288K | +14.3% |
Gloucester County | $310K | $338.7K | +9.3% |
Middlesex County | $365K | $370K | +1.4% |
Mathews County | $396.7K | $350K | -11.8% |
Housing Supply in Gloucester County, VA
How many homes are available in Gloucester County, VA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
323 | 351 | +8.7% |
Summary: The Gloucester County real estate market had 351 homes for sale in May 2024, a 8.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 6 | -25.0% |
2 Bedrooms | 52 | 47 | -9.6% |
3 Bedrooms | 176 | 204 | +15.9% |
4 Bedrooms | 69 | 77 | +11.6% |
5+ Bedrooms | 18 | 17 | -5.6% |
Summary: The Gloucester County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 9.6%, 3 bedroom homes increased by 15.9%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes decreased by 5.6%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
63 | 88 | +39.7% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 88 homes were sold or pending in Gloucester County in May 2024, up by 39.7% month-over-month. Of the 45 sold homes, 27% were sold under asking, 36% were sold at asking, and 38% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
18 Days | 27 Days | +47.1% |
Summary: Homes in Gloucester County had an average of 27 days on market in May 2024, up by 47.1% compared to last year.
Breakdown of Home Sale Times
65 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Summary: During May 2024, 88 homes were sold in Gloucester County; 74% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.