Is Essex County, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Essex County has remained a Seller's Market.
Housing Prices in Essex County, MA
How much do homes in Essex County, MA cost?
Median Sold Price
$633,744
$358/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Essex County was $633,744 in May 2024, up 5.6% from last year, and the median price per square foot was $358.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $285K | $326K | +14.4% |
2 Bedrooms | $446.3K | $468.9K | +5.1% |
3 Bedrooms | $587K | $627.3K | +6.9% |
4 Bedrooms | $760K | $815K | +7.2% |
5+ Bedrooms | $760K | $839.8K | +10.5% |
Summary: Essex County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.4%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 10.5%.
Median Sold Price Compared To Nearby Counties
Middlesex County | $713.1K | $775.2K | +8.7% |
Essex County | $599.9K | $633.7K | +5.6% |
Suffolk County | $749.8K | $777.2K | +3.7% |
Housing Supply in Essex County, MA
How many homes are available in Essex County, MA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,780 | 2,128 | +19.6% |
Summary: The Essex County real estate market had 2,128 homes for sale in May 2024, a 19.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 104 | 108 | +3.8% |
2 Bedrooms | 407 | 449 | +10.3% |
3 Bedrooms | 589 | 734 | +24.6% |
4 Bedrooms | 425 | 544 | +28.0% |
5+ Bedrooms | 255 | 293 | +14.9% |
Summary: The Essex County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.8%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 24.6%, 4 bedroom homes increased by 28%, and 5+ bedroom homes increased by 14.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
458 | 592 | +29.3% |
Asking Price vs. Sold Price
136 Homes Were Sold
Under Asking
58 Homes Were Sold
At Asking
398 Homes Were Sold
Over Asking
Summary: A total of 592 homes were sold or pending in Essex County in May 2024, up by 29.3% month-over-month. Of the 592 sold homes, 23% were sold under asking, 10% were sold at asking, and 67% were sold over asking.
Days on Market for Essex County, MA
How long does it take to sell a home in Essex County, MA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
26 Days | 24 Days | -8.1% |
Summary: Homes in Essex County had an average of 24 days on market in May 2024, down by 8.1% compared to last year.
Breakdown of Home Sale Times
486 Homes Were Sold
Under 30 Days
90 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Summary: During May 2024, 592 homes were sold in Essex County; 82% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.