Is Essex County, VA 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 Neutral Market.
Key Takeaway
Essex County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Essex County, VA
How much do homes in Essex County, VA cost?
Median Sold Price
$289,000
$179/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Essex County have sold for 13.3% more than they did a year ago.
Summary: The median home sold price in Essex County was $289,000 in May 2024, up 13.3% from last year, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220.5K | $115.8K | -47.5% |
| 2 Bedrooms | $175K | $190K | +8.5% |
| 3 Bedrooms | $252K | $273K | +8.3% |
| 4 Bedrooms | $350K | $330K | -5.7% |
| 5+ Bedrooms | $800K | $649.9K | -18.8% |
Summary: Essex County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 47.5%, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 8.3%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes decreased by 18.8%.
Median Sold Price Compared To Nearby Counties
| King and Queen County | $252K | $288K | +14.3% |
| Essex County | $255K | $289K | +13.3% |
| Westmoreland County | $290K | $312K | +7.6% |
| Caroline County | $325.6K | $338K | +3.8% |
| King George County | $425K | $439.9K | +3.5% |
Housing Supply in Essex County, VA
How many homes are available in Essex County, VA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 56 | 62 | +10.7% |
Summary: The Essex County real estate market had 62 homes for sale in May 2024, a 10.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 34 | 37 | +8.8% |
| 4 Bedrooms | 12 | 14 | +16.7% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Essex County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 10 | -9.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Essex County, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Essex County in May 2024, down by 9.1% month-over-month. Of the 10 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Essex County, VA
How long does it take to sell a home in Essex County, VA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 18 Days | 75 Days | +313.9% |
Summary: Homes in Essex County had an average of 75 days on market in May 2024, up by 313.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Essex County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Essex County; 50% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
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Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS or Unlock MLS®). All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS, Unlock MLS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data maintained by the Board, ACTRIS or Unlock MLS may not reflect all real estate activity in the market. Prices displayed on all Sold listings are the Last Known Listing Price and may not be the actual selling price. 
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