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 seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Essex County has remained a Seller's Market.

Key Takeaway

Essex County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Essex County, VA

How much do homes in Essex County, VA cost?

Median Sold Price

$308,000

$189/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$32,125(+11.6%)

Key Takeaway

Homes in Essex County have sold for 11.6% more than they did a year ago.

Summary: The median home sold price in Essex County was $308,000 in October 2024, up 11.6% from last year, and the median price per square foot was $189.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $132.9K-
N/A
2 $182.6K$194.4K
+6.5%
3 $257.3K$270K
+4.9%
4 $350K$389.9K
+11.4%
5+ $609.9K$562.5K
-7.8%

Summary: Essex County 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 6.5%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes decreased by 7.8%.

Median Sold Price Compared To Nearby Counties

Essex County
+11.6%
Westmoreland County
+7.6%
King George County
+7.0%
Caroline County
+4.8%
King and Queen County
+1.8%

Housing Supply in Essex County, VA

How many homes are available in Essex County, VA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7083+18.6%

Summary: The Essex County real estate market had 83 homes for sale in October 2024, a 18.6% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 47
+75.0%
3 4554
+20.0%
4 1212
0.0%
5+ 910
+11.1%

Summary: The Essex County 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 increased by 75%, 3 bedroom homes increased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
814+75.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

3 Homes Were 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 14 homes were sold or pending in Essex County in October 2024, up by 75.0% month-over-month. Of the 14 sold homes, 50% were sold under asking, 29% were sold at asking, and 21% 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

Oct 2023Oct 2024CHANGE
36 Days32 Days-9.7%

Summary: Homes in Essex County had an average of 32 days on market in Oct 2024, down by 9.7% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 October 2024, 14 homes were sold in Essex County; 71% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 7% 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

Nearby Markets to Essex County, VA

What housing markets are near Essex County, VA?