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 buyer's market

Buyer's
Market

Difference Since November 2023

Since last year, Gloucester County has remained a Buyer's Market.

Key Takeaway

Gloucester County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Gloucester County, VA

How much do homes in Gloucester County, VA cost?

Median Sold Price

$354,514

$215/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$30,464(+9.4%)

Key Takeaway

Homes in Gloucester County have sold for 9.4% more than they did a year ago.

Summary: The median home sold price in Gloucester County was $354,514 in November 2024, up 9.4% from last year, and the median price per square foot was $215.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $167.5K$248.5K
+48.4%
2 $255K$301K
+18.0%
3 $310K$349.9K
+12.9%
4 $419.9K$475K
+13.1%
5+ $410K$625K
+52.4%

Summary: Gloucester County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 48.4%, 2 bedroom homes increased by 18%, 3 bedroom homes increased by 12.9%, 4 bedroom homes increased by 13.1%, and 5+ bedroom homes increased by 52.4%.

Median Sold Price Compared To Nearby Counties

Gloucester County
+9.4%
Middlesex County
+7.9%
King and Queen County
+5.3%
Mathews County
+4.2%

Housing Supply in Gloucester County, VA

How many homes are available in Gloucester County, VA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
281263-6.4%

Summary: The Gloucester County real estate market had 263 homes for sale in November 2024, a 6.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 34
+33.3%
2 2723
-14.8%
3 167164
-1.8%
4 7065
-7.1%
5+ 147
-50.0%

Summary: The Gloucester County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 14.8%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes decreased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
7737-51.9%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gloucester County, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 37 homes were sold or pending in Gloucester County in November 2024, down by 51.9% month-over-month. Of the 18 sold homes, 56% were sold under asking, 17% were sold at asking, and 28% 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

Nov 2023Nov 2024CHANGE
33 Days47 Days+42.0%

Summary: Homes in Gloucester County had an average of 47 days on market in Nov 2024, up by 42% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

19 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Gloucester County has remained consistent over time.

Summary: During November 2024, 37 homes were sold in Gloucester County; 35% of homes were sold within 30 days, 51% of homes were sold within 30 to 90 days, and 14% 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 20 Days Ago

Newest Listings in Gloucester County, VA

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