Is Essex County, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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, MA
How much do homes in Essex County, MA cost?
Median Sold Price
$629,695
$356/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Essex County have sold for 5% more than they did a year ago.
Summary: The median home sold price in Essex County was $629,695 in April 2024, up 5% from last year, and the median price per square foot was $356.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $285K | $325K | +14.0% |
| 2 Bedrooms | $441.3K | $465K | +5.4% |
| 3 Bedrooms | $584.9K | $623.6K | +6.6% |
| 4 Bedrooms | $764.7K | $804.4K | +5.2% |
| 5+ Bedrooms | $765K | $840.6K | +9.9% |
Summary: Essex County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 9.9%.
Median Sold Price Compared To Nearby Counties
| Middlesex County | $713.1K | $773.8K | +8.5% |
| Essex County | $599.9K | $629.6K | +5.0% |
| Suffolk County | $749.6K | $776K | +3.5% |
Housing Supply in Essex County, MA
How many homes are available in Essex County, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,398 | 1,670 | +19.5% |
Summary: The Essex County real estate market had 1,670 homes for sale in April 2024, a 19.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 81 | 102 | +25.9% |
| 2 Bedrooms | 338 | 382 | +13.0% |
| 3 Bedrooms | 460 | 550 | +19.6% |
| 4 Bedrooms | 305 | 393 | +28.9% |
| 5+ Bedrooms | 214 | 243 | +13.6% |
Summary: The Essex County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25.9%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 19.6%, 4 bedroom homes increased by 28.9%, and 5+ bedroom homes increased by 13.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 381 | 434 | +13.9% |
Asking Price vs. Sold Price
111 Homes Were Sold
Under Asking
35 Homes Were Sold
At Asking
288 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Essex County, you could pay more than the asking price. 66.4% of homes here sold above asking price last month.
Summary: A total of 434 homes were sold or pending in Essex County in April 2024, up by 13.9% month-over-month. Of the 434 sold homes, 26% were sold under asking, 8% were sold at asking, and 66% were sold over asking.
Days on Market for Essex County, MA
How long does it take to sell a home in Essex County, MA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 29 Days | 25 Days | -13.0% |
Summary: Homes in Essex County had an average of 25 days on market in Apr 2024, down by 13% compared to last year.
Breakdown of Home Sale Times
346 Homes Were Sold
Under 30 Days
66 Homes Were Sold
In 30 - 90 Days
22 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Essex County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 434 homes were sold in Essex County; 80% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
© Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.