Where’s the affordable housing?

Cape Ann Home

Six.  That’s the amount of single family homes for sale in Gloucester under $500k as I write this post.  There are 61 single family homes for sale in Gloucester in total.  So that means 55 of the remaining homes for sale in Gloucester are listed at over a half a million dollars.  MLS shows the average list price of homes for sale in Gloucester currently at $1.389mil…that’s not very affordable.

The good news is that you don’t have to spend close to $1.5mil to buy a home in Gloucester.  It just means there is a shortage of homes for sale that are considered affordable.  The majority of the current homes for sale are on the water, marshes and beaches of Gloucester….some absolutely beautiful homes.   This is common with the spring market, as buyers would want to be in Gloucester for the summer.  This is prime second home buying season.  We…

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