$2,553 Closing Credit*
$215,000
1,404 SqFt
3 Beds
•1 Full Bath, 1 Partial
Michele L McFadden, Listing Office: RE/MAX Advantage Realty
Is Essex, MD 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, MD
How much do homes in Essex, MD cost?
Median Sold Price
$290,000
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$27,375(+10.4%)
Key Takeaway
Homes in Essex have sold for 10.4% more than they did a year ago.
Summary: The median home sold price in Essex was $290,000 in October 2024, up 10.4% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120K | $213.3K | +77.8% |
| 2 Bedrooms | $199.9K | $225K | +12.5% |
| 3 Bedrooms | $245K | $274.9K | +12.2% |
| 4 Bedrooms | $330K | $360.7K | +9.3% |
| 5+ Bedrooms | $366K | $472.5K | +29.1% |
Summary: Essex housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 77.8%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 12.2%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 29.1%.
Median Sold Price Compared To Nearby Cities
| Essex | $262.6K | $290K | +10.4% |
| Sparrows Point | $349.9K | $370K | +5.7% |
| Middle River | $305.7K | $318K | +4.0% |
Housing Supply in Essex, MD
How many homes are available in Essex, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 120 | 127 | +5.8% |
Summary: The Essex real estate market had 127 homes for sale in October 2024, a 5.8% 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 | 20 | 17 | -15.0% |
| 3 Bedrooms | 59 | 63 | +6.8% |
| 4 Bedrooms | 31 | 38 | +22.6% |
| 5+ Bedrooms | 10 | 9 | -10.0% |
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 15%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 22.6%, and 5+ bedroom homes decreased by 10%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 36 | +9.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Essex, you could pay more than the asking price. 36.1% of homes here sold above asking price last month.
Summary: A total of 36 homes were sold or pending in Essex in October 2024, up by 9.1% month-over-month. Of the 36 sold homes, 31% were sold under asking, 33% were sold at asking, and 36% were sold over asking.
Days on Market for Essex, MD
How long does it take to sell a home in Essex, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 27 Days | +19.4% |
Summary: Homes in Essex had an average of 27 days on market in Oct 2024, up by 19.4% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
2 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, 36 homes were sold in Essex; 61% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
