$2,968 Closing Credit*
$249,900
2,688 SqFt
6 Beds
•4 Full Baths
Kathy A Banaszewski, Listing Office: Real Estate Professionals, Inc.
Is Essex, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$293,200
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$31,450(+12.0%)
Key Takeaway
Homes in Essex have sold for 12% more than they did a year ago.
Summary: The median home sold price in Essex was $293,200 in November 2024, up 12% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $120K | $213.3K | +77.8% |
| 2 Bedrooms | $199.9K | $225.5K | +12.8% |
| 3 Bedrooms | $245.5K | $280K | +14.1% |
| 4 Bedrooms | $334.5K | $360K | +7.6% |
| 5+ Bedrooms | $369.9K | $510K | +37.9% |
Summary: Essex housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 77.8%, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 14.1%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 37.9%.
Median Sold Price Compared To Nearby Cities
| Essex | $261.7K | $293.2K | +12.0% |
| Sparrows Point | $357.5K | $369.9K | +3.5% |
| Middle River | $310K | $317K | +2.3% |
Housing Supply in Essex, MD
How many homes are available in Essex, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 123 | 116 | -5.7% |
Summary: The Essex real estate market had 116 homes for sale in November 2024, a 5.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 16 | 18 | +12.5% |
| 3 Bedrooms | 64 | 59 | -7.8% |
| 4 Bedrooms | 34 | 32 | -5.9% |
| 5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The Essex housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 7.8%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 41 | 27 | -34.1% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Essex, you may be able to get a good deal. 51.9% of homes here sold below asking price last month.
Summary: A total of 27 homes were sold or pending in Essex in November 2024, down by 34.1% month-over-month. Of the 27 sold homes, 52% were sold under asking, 33% were sold at asking, and 15% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 15 Days | 39 Days | +157.4% |
Summary: Homes in Essex had an average of 39 days on market in Nov 2024, up by 157.4% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
8 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 November 2024, 27 homes were sold in Essex; 63% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
