Is Essex County, VA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Essex County is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Essex County was a Seller's Market.

Key Takeaway

Essex County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Essex County, VA

How much do homes in Essex County, VA cost?

Median Sold Price

$308,500

$187/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$31,700(+11.5%)

Key Takeaway

Homes in Essex County have sold for 11.5% more than they did a year ago.

Summary: The median home sold price in Essex County was $308,500 in November 2024, up 11.5% from last year, and the median price per square foot was $187.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $132.9K-
N/A
2 $186.3K$194.4K
+4.4%
3 $259.6K$273K
+5.2%
4 $350K$400K
+14.3%
5+ $570K$675K
+18.4%

Summary: Essex County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 18.4%.

Median Sold Price Compared To Nearby Counties

Essex County
+11.5%
Westmoreland County
+8.7%
King George County
+7.2%
King and Queen County
+5.3%
Caroline County
+4.5%

Housing Supply in Essex County, VA

How many homes are available in Essex County, VA?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
7275+4.2%

Summary: The Essex County real estate market had 75 homes for sale in November 2024, a 4.2% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 77
0.0%
3 4247
+11.9%
4 1313
0.0%
5+ 108
-20.0%

Summary: The Essex County 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 remained the same, 3 bedroom homes increased by 11.9%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
148-42.9%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

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 8 homes were sold or pending in Essex County in November 2024, down by 42.9% month-over-month. Of the 8 sold homes, 50% were sold under asking, 38% were sold at asking, and 13% 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

Nov 2023Nov 2024CHANGE
25 Days24 Days-4.6%

Summary: Homes in Essex County had an average of 24 days on market in Nov 2024, down by 4.6% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Essex County are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 8 homes were sold in Essex County; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Essex County, VA

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