Hi neighbors — Larry McKinney here with Hogge Real Estate Inc. in Gloucester, Virginia. It's the first Monday of August 2026, and that means it's time for your weekly Gloucester County real estate market update. Every Monday I pull the numbers straight from the REIN MLS, so what you're reading isn't a national headline or a guess — it's what's actually happening in Gloucester Point, Hayes, Gloucester Courthouse, Ware Neck, and the rest of our county as of this morning.

This Week's Numbers (as of August 3, 2026)

Here's the snapshot for Gloucester, straight from REIN, covering everything on the market — homes, land, and waterfront:

• 178 active listings, with a median asking price of $360,000
• 71 listings pending — under contract and headed to closing — with a median price of $380,000
• The listings going under contract spent an average of just 57 days on the market

Put those first two together and you get the headline: 71 pendings against 178 actives means roughly 40 percent of everything for sale in Gloucester is already spoken for. That is not a sleepy market.

Where the Market Is Moving — and Where It Isn't

The price bands tell the real story this week. Between $300,000 and $750,000, Gloucester is humming: 34 homes active in the $300s with 19 pending, 22 active in the $400s with 12 pending, and 35 active between $500,000 and $749,999 with 19 pending. In every one of those bands, more than half as many homes are under contract as are sitting on the market. That's a strong pace.

Then comes the wall. From $750,000 to $999,999 there are 14 active listings — and exactly one pending. That band, where a lot of our premium waterfront lives, is where buyers currently hold the cards.

One more detail worth noticing: the median pending price ($380,000) is higher than the median asking price of what's still sitting ($360,000). Buyers aren't just bargain-hunting — they're stepping up for the right house and passing on the wrong one.

What This Means for Buyers

If you're shopping between $300,000 and $750,000, come ready. The average listing goes under contract in 57 days, and the well-priced, well-kept ones move much faster than that average. Get your pre-approval done before you tour, know your must-haves, and be prepared to make a decision in days, not weeks, when the right one hits.

If you're shopping above $750,000, you're in the strongest negotiating position Gloucester buyers have seen in a while. Fourteen listings, one pending — that's selection, time to think, and real room to negotiate on price, repairs, and terms. For waterfront buyers especially, this is a window.

What This Means for Sellers

Under $750,000, this market will reward you — if you price to the comps. With 40 percent of listings already under contract, buyers are active, but they're also informed: they're stepping past overpriced homes to pay fair money for the right ones. Price it right the first week and you ride the fast side of this market. Overprice it and you become part of the 178 waiting.

Above $750,000, be strategic. One pending against fourteen actives means pricing, condition, and presentation have to be perfect, and patience is part of the plan. This is exactly where the right preparation before listing pays for itself many times over.

A Construction Guy's Take

I spent years in construction before I ever sold a home, and here's what I see in that $750K-and-up logjam: at premium prices, condition is what separates sold from sitting. Buyers stretching for a big number expect the big-ticket items — roof, HVAC, moisture and crawlspace, windows, and on the water, bulkheads and pilings — to be handled, and they'll discount hard for anything that smells like deferred maintenance. Before I list a home, I walk it the way an inspector will, because a $500 fix before listing beats a $5,000 credit at the closing table every time.

Land and Waterfront

There are 29 listings on the market under $100,000 right now — most of that is lots and land — with only a handful under contract. That means land buyers have selection and leverage. But remember, buying land or waterfront in Gloucester comes with homework most agents skip: septic perc tests, wetlands delineation, flood zones, and VMRC rules for anything touching the water. As a land and waterfront specialist, that homework is exactly what I do before you commit a dollar.

The Bottom Line

Gloucester is a two-speed market right now: quick and competitive from $300,000 to $750,000, wide open with buyer leverage above $750,000 and in land. Whichever side you're on, matching your strategy to your price band is worth real money this month.

Thinking about buying or selling in Gloucester County? Call Larry McKinney at 757-503-2544 or visit thegloucesterrealtor.com. I answer my own phone.

Source: REIN MLS Area Market Survey (Gloucester Point/Hayes and Gloucester West), pulled August 3, 2026. Active and pending figures are current as of this morning. Larry McKinney, Hogge Real Estate Inc., 6800 Main St., Gloucester, VA 23061.