$4,631 Closing Credit*
$390,000
1,006 SqFt
2 Beds
•1 Full Bath
Susan Woods, Listing Office: William Pitt Sotheby's Int'l
Is Essex, CT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Essex was a Neutral Market.
Key Takeaway
Essex is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Essex, CT
How much do homes in Essex, CT cost?
Median Sold Price
$620,000
$311/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$65,706(+11.9%)
Key Takeaway
Homes in Essex have sold for 11.9% more than they did a year ago.
Summary: The median home sold price in Essex was $620,000 in October 2024, up 11.9% from last year, and the median price per square foot was $311.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $355K | $338K | -4.8% |
| 2 Bedrooms | $391K | $345K | -11.8% |
| 3 Bedrooms | $615K | $580K | -5.7% |
| 4 Bedrooms | $648.7K | $870K | +34.1% |
| 5+ Bedrooms | $1.3M | $2.0M | +45.9% |
Summary: Essex housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.8%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes decreased by 5.7%, 4 bedroom homes increased by 34.1%, and 5+ bedroom homes increased by 45.9%.
Median Sold Price Compared To Nearby Cities
| Deep River | $310K | $417K | +34.5% |
| Ivoryton | $392K | $500.5K | +27.7% |
| Old Saybrook | $570K | $667.5K | +17.1% |
| Essex | $554.2K | $620K | +11.9% |
Housing Supply in Essex, CT
How many homes are available in Essex, CT?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 35 | 37 | +5.7% |
Summary: The Essex real estate market had 37 homes for sale in October 2024, a 5.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 14 | 15 | +7.1% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Essex housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 10 | +66.7% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Essex, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Essex in October 2024, up by 66.7% month-over-month. Of the 10 sold homes, 70% were sold under asking, 10% were sold at asking, and 20% were sold over asking.
Days on Market for Essex, CT
We’re sorry, we don't have information for this market at the moment
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