Gloucester’s housing market has cooled compared with last year, with typical home values down about 11.03 percent year over year, a steeper decline than Essex County’s 6.72 percent drop. Even with that pullback in prices, inventory is up strongly from a year ago by 46.67 percent and pending sales have risen 16.67 percent, suggesting buyers have more options while homes are still finding demand.
In February 2026, the typical home value in Gloucester was about $645,000, a bit above the Essex County average of $625,000, while the median list price sat lower at $599,000. Homes moved in a median of 22 days, with 3.4 months of supply, and roughly 38 percent of sales closing above list price even as about 11 percent of listings saw a price drop, all aligning with its current seller’s market reading.
Looking ahead to March 2026, values and asking prices are projected to ease further, with a typical home value of about $605,000 and a median list price near $529,250. Inventory is expected to edge up to around 48 listings, which may give buyers a bit more leverage while still keeping conditions relatively strong for sellers, and Agent Pronto can help both buyers and sellers connect with an agent who understands these trends.
