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 October 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

$334,950

$207/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$26,450(+8.6%)

Key Takeaway

Homes in Gloucester Point have sold for 8.6% more than they did a year ago.

Summary: The median home sold price in Gloucester Point was $334,950 in October 2024, up 8.6% from last year, and the median price per square foot was $207.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $234.9K$284K
+20.9%
3 $309.2K$334.9K
+8.3%
4 $360K$540K
+50.0%
5+ --
N/A

Summary: Gloucester Point housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 20.9%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

York
+16.7%
Hayes
+10.0%
Gloucester Point
+8.6%

Housing Supply in Gloucester Point, VA

How many homes are available in Gloucester Point, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3431-8.8%

Summary: The Gloucester Point real estate market had 31 homes for sale in October 2024, a 8.8% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 12
+100.0%
3 2317
-26.1%
4 810
+25.0%
5+ 22
0.0%

Summary: The Gloucester Point housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 26.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
67+16.7%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gloucester Point, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.

Summary: A total of 7 homes were sold or pending in Gloucester Point in October 2024, up by 16.7% month-over-month. Of the 3 sold homes, 0% were sold under asking, 67% were sold at asking, and 33% 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

Oct 2023Oct 2024CHANGE
20 Days23 Days+14.4%

Summary: Homes in Gloucester Point had an average of 23 days on market in Oct 2024, up by 14.4% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 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 October 2024, 7 homes were sold in Gloucester Point; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% 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 16 Days Ago

Newest Listings in Gloucester Point, VA

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