Home Values

Gloucester Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$364,800

  • 4.0% 1-year change
  • 0.0% 1-year forecast

The median home value in Gloucester is $364,800. Gloucester home values have gone up 4.0% over the past year and Zillow predicts they will rise 0.0% within the next year. The median list price per square foot in Gloucester is $288, which is higher than the Boston Metro average of $224. The median price of homes currently listed in Gloucester is $425,000 while the median price of homes that sold is $360,825.

Foreclosures will be a factor impacting home values in the next several years. In Gloucester 1.6 homes are foreclosed (per 10,000). This is lower than the national value of 4.3

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Gloucester is 7.3%, which is higher than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Gloucester homeowners underwater on their mortgage is 7.0%, which is lower than Boston Metro at 10.6%.

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Relative ZHVI
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Gloucester Market Overview

Data through Aug 31, 2014
  • $364,800 ZHVI
  • 0.0% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Aug 31, 2015)
  • $425,000 Median listing price
  • $360,825 Median sale price
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Gloucester Market Health

Data through Aug 31, 2014
  • 6.5/10 Healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 7.0% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 7.3% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

1.6 homes Gloucester
4.3 homes United States
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Nearby Cities

Name Median ZHVI
Manchester $708,800
Marblehead $532,700
Wenham $521,100
Name Median ZHVI
Town of Essex $493,900
Hamilton $474,600
Newbury $447,700
Name Median ZHVI
Rockport $445,500
Town of Ipswich $428,000
Beverly $367,000

Listings & Sales

Data through Aug 31, 2014
  • $288 Median list price / sq ft
  • $290 Median sale price / sq ft
  • 49.5% Listings with price cut
16.2%
Sold below listing
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Gloucester Rentals

Data through Aug 31, 2014
  • Zillow Rent Index

  • $1,855 Gloucester
    $2,116 Boston Metro
    $1,328 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 3.2 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • $1.23 Rent list price / sq ft
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