$7,113 Closing Credit*
$599,000
1,188 SqFt
3 Beds
•1 Full Bath, 1 Partial
#73310198, Debra Lovelace, Listing Office: Churchill Properties
Is Essex, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Essex has remained a Seller's Market.
Key Takeaway
Essex is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Essex, MA
How much do homes in Essex, MA cost?
Median Sold Price
$800,000
$403/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since October 2023.
Key Takeaway
The sold price of homes in Essex has remained the same since last year.
Summary: The median home sold price in Essex was $800,000 in October 2024, the same as last year, and the median price per square foot was $403.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $925K | - | N/A |
| 2 Bedrooms | $692.5K | $735K | +6.1% |
| 3 Bedrooms | $775K | $713.1K | -8.0% |
| 4 Bedrooms | $1.2M | $869.5K | -28.9% |
| 5+ Bedrooms | $2.4M | $1.1M | -54.3% |
Summary: Essex housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.1%, 3 bedroom homes decreased by 8%, 4 bedroom homes decreased by 28.9%, and 5+ bedroom homes decreased by 54.3%.
Median Sold Price Compared To Nearby Cities
| South Hamilton | $719K | $900K | +25.2% |
| Hamilton | $727.2K | $905K | +24.4% |
| Ipswich | $739.8K | $750K | +1.4% |
| Essex | $800K | $800K | 0.0% |
| Manchester-by-the-Sea | $1.2M | $1.0M | -13.5% |
Housing Supply in Essex, MA
How many homes are available in Essex, MA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 7 | -30.0% |
Summary: The Essex real estate market had 7 homes for sale in October 2024, a 30.0% decrease 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 | 1 | 0 | -100.0% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
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 100%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Essex, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Essex in October 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Essex, MA
How long does it take to sell a home in Essex, MA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 43 Days | 29 Days | -33.6% |
Summary: Homes in Essex had an average of 29 days on market in Oct 2024, down by 33.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Essex are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in Essex; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
